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17 Nov 2017 16:08
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Director / PDMR Shareholdings
CyanConnode (AIM:CYAN.L), the world leader in narrowband radio mesh networks, announces the cancellation and issue of replacement options to certain directors and employees following a review of executive and employee incentives conducted by the board and the Company's Remuneration Committee.
All EMI share options held by John Cronin, Harry Berry and Simon Smith were cancelled on 17 November 2017 (the "Cancelled Options") and replaced with the same number of new share options, as detailed below, on the same date (the "New Options"). The New Options are being issued with a 20% hurdle to the September 2017 placing price. The Remuneration Committee has taken these steps in order to retain key people and to incentivise individuals across the group (directors and employees) to drive increased shareholder value.
Cancelled Options
Name | Position | Current number of Options held | Exercise Price of current Options (in pence per share) | Per cent. of issued share capital |
John Cronin |
Executive Chairman |
382,804 175,297 |
60.0 84.0 |
|
558,101 | 0.44% | |||
Simon Smith | NED | 210,032 130,746 255,526 | 60.0 84.0 50.0 | |
596,304 | 0.47% | |||
Harry Berry | Chief Operating Officer | 372,944 142,566 70,000 149,664 | 50.0 43.4 28.0 37.2 | |
735,174 | 0.58% | |||
New Options
Name | Position | Current number of Options held | Exercise Price of current Options (in pence per share) | Per cent. of issued share capital |
John Cronin |
Executive Chairman |
558,101 |
33.6 | |
558,101 | 0.44% | |||
Simon Smith |
NED |
596,304 |
33.6 | |
596,304 | 0.47% | |||
Harry Berry |
COO |
735,174 |
33.6 | |
735,174 | 0.58% | |||
The New Options shall vest as follows:-
1,415,270 shall vest on 2 October 2018
306,900 shall vest on 2 October 2019
197,083 shall vest on 2 October 2020
All EMI Options will lapse if unexercised after 10 years from the date of grant.
Following the above transaction the John Cronin, Harry Berry and Simon Smith interests' in ordinary shares in the Company remains unchanged.
Enquiries:
CyanConnode Holdings plc | www.cyanconnode.com |
John Cronin, Executive Chairman
| Tel: +44 (0) 1223 225 060 |
finnCap Ltd (NOMAD and Broker) | |
Adrian Hargrave / Giles Rolls (Corporate Finance) Alice Lane (Corporate Broking) | Tel: +44 (0) 20 7220 0500
|
Walbrook PR (Investor Relations) |
cyanconnode@walbrookpr.com |
Paul Cornelius / Nick Rome | Tel: +44(0) 20 7933 8780
|
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 | Simon Smith | ||||||||||||
2. | Reason for the Notification | |||||||||||||
a) | Position/status | PDMR | ||||||||||||
b) | Initial notification/Amendment |
| ||||||||||||
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 |
| ||||||||||||
Identification code | GB00B0P66Q02 | |||||||||||||
b) | Nature of the transaction |
| ||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||
d) | Aggregated information: · Aggregated volume · Price |
As above | ||||||||||||
e) | Date of the transaction | 17 November 2017 | ||||||||||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||||||||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
a) | Name | John Cronin | ||||||||||||
2. | Reason for the Notification | |||||||||||||
a) | Position/status | PDMR | ||||||||||||
b) | Initial notification/Amendment |
| ||||||||||||
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 |
| ||||||||||||
Identification code | GB00B0P66Q02 | |||||||||||||
b) | Nature of the transaction |
| ||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||
d) | Aggregated information: · Aggregated volume · Price |
As above | ||||||||||||
e) | Date of the transaction | 17 November 2017 | ||||||||||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||||||||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
a) | Name | Harry Berry | ||||||||||||
2. | Reason for the Notification | |||||||||||||
a) | Position/status | PDMR | ||||||||||||
b) | Initial notification/Amendment |
| ||||||||||||
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 |
| ||||||||||||
Identification code | GB00B0P66Q02 | |||||||||||||
b) | Nature of the transaction |
| ||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||
d) | Aggregated information: · Aggregated volume · Price |
As above | ||||||||||||
e) | Date of the transaction | 17 November 2017 | ||||||||||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||||||||||
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
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