Cyanconnode Regulatory News (CYAN)

Cyan Holdings plc

("Cyan" or the "Company")

Executive Chairman role and grant of options

Cyan Holdings plc (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, is pleased to announce that John Cronin, Executive Chairman, has agreed to expand his part-time appointment and take a more substantive role with Cyan. This involves Mr. Cronin spending more of his time on developing Cyan's business, including travel to meet with key customers and strategic partners. Mr Cronin has agreed to be compensated for this additional commitment through more share options rather than the equivalent in cash.

Accordingly, Cyan has today awarded options to acquire ordinary shares of 0.01p each in the Company ("Options") to Mr Cronin, as well as to Simon Smith, Chief Financial Officer, as follows:

The new Options for John Cronin and Simon Smith are exercisable as to 25 per cent. of the issued amount from 30 September 2015 and in three further tranches of 25 per cent. of the issued amount on 30 September in each of the following three years.

All of the new Options have an exercise price of 0.42 pence per share, being a 31% premium over the closing mid-market price of 0.32 pence per share on 29 September 2014, the day before the Options were issued, and will lapse if unexercised after 10 years from the date of grant.

Following the grant of the Options, the total number of options outstanding over ordinary shares is 485,226,835 representing 10.9% of the Company's issued share capital.

John Cronin, Executive Chairman commented: "I'm delighted to be taking a more substantive role at Cyan. Cyan has a broad pipeline of opportunities for smart metering and lighting in India, China and Brazil and as we announced recently, we have agreed to offer our metering solutions in South Africa through Dinsmore & Associates. Cyan's technology provides a cost effective platform for metering, lighting, water, gas, smart home and Internet of Things solutions in emerging markets across the world."

Not only has Mr Cronin introduced Dinsmore & Associates to Cyan but also through his network of contacts introduced the Vodafone M2M team, Peter Mainz and Harry Berry. Next priorities are to continue to build a world class management team and further differentiate through an eco-system of products, services and applications.

In addition to the Options, having invested £254,218, John Cronin has an interest in 90,242,048 ordinary shares in the Company, being 2.03 per cent. of the current issued share capital. Simon Smith has also invested £237,202 and has an interest in 64,766,588 ordinary shares, being 1.45 per cent of the current issued share capital.

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