Last checked at 9 Sep 2020 07:00
9 September 2020
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Director Share Purchases
CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, announces that Executive Chairman, John Cronin, has purchased ordinary shares of 2.0p in the Company ("Ordinary Shares"), as follows.
Director | Shares purchased | Price paid per share (p) | Amount invested (£) | Previous shareholding | New shareholding | % in Company | Total investment in Company (£)
|
John Cronin | 360,342 | 5.55 | 20,000 | 3,413,467 | 3,773,809 | 2.06% | 1,005,829 |
Furthermore, pursuant to the CyanConnode Matching Share Plan (the "Plan"), the Company will now grant 360,342 options over Ordinary Shares to Mr Cronin. Under the terms of this Plan the options would have been granted at the same price at which the shares were purchased, however as with other directors who purchased shares on 7 September 2020, Mr Cronin has agreed to having these options issued with an exercise price of 10.0 pence per Ordinary Share. The higher strike price means that the options will have no value whatsoever until the share price increases significantly and will only have any value if the share price increases above 10p.
Following this grant, Mr Cronin will hold options over 1,118,443 Ordinary Shares. In addition, he holds interests over 4,601,625 Ordinary Shares under the Company's Joint Share Ownership Plan. In total, 914,678 options have been issued to Mr Cronin under the Plan.
John Cronin, Executive Chairman, CyanConnode, commented: "Together with my latest investment, the Board has invested over £5.5 million in CyanConnode, which demonstrates our commitment and confidence in the business going forward. I look forward to giving further updates to the market as appropriate."
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
Enquiries:
CyanConnode Holdings plc | Tel: +44 (0) 1223 225 060 |
John Cronin, Executive Chairman
| www.cyanconnode.com |
Arden Partners plc (Nomad and Broker) Paul Shackleton/Dan Gee-Summons (Corporate Finance) Simon Johnson (Corporate Broking) | Tel: +44 (0) 20 7614 5900
|
Yellow Jersey PR (Financial PR) |
Tel: +44(0) 20 3004 9512 |
Sarah Hollins / Annabel Atkins | cyanconnode@yellowjerseypr.com |
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||
a) | Name | John Cronin | ||||||||
2. | Reason for the Notification | |||||||||
a) | Position/status | Executive Chairman | ||||||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a) | Name | CyanConnode Holdings plc | ||||||||
b) | LEI | 213800MDLW3GKKW5TT58 | ||||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||
a) | Description of the Financial instrument, type of instrument |
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Identification code | GB00B0P66Q02 | |||||||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
Purchase of Ordinary Shares
Grant of Options
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d) | Aggregated information: · Aggregated volume · Price |
See above | ||||||||
e) | Date of the transaction | 7 September 2020 | ||||||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||||||