Last checked at 7 Jul 2016 07:00
Cyan Holdings plc
("CyanConnode" or the "Group")
Issue of Options
CyanConnode (AIM:CYAN.L), the world leader in narrowband RF mesh networks for Omni Internet of Things communications, announces that it has awarded options to acquire ordinary shares of 0.01 pence per share in the Group ("Options") to John Cronin, Executive Chairman, to Simon Smith, Chief Financial Officer, and to Harry Berry, Non-Executive Director and to certain other employees of the Group, including Connode employees following the completion of the acquisition of Connode as announced on 1 July 2016, as follows:
Name | Position | Current number of Options held | Exercise Price of current Options (in pence per share) | Number of new Options granted | Exercise price (in pence per share) | Total number of Options now held | Per cent. of current issued share capital |
John Cronin | Executive Chairman | 76,560,756 101,689,440 | 0.3 0.42 | 387,580,509 | 0.25 | 565,764,961 | 4.00% |
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| 178,250,196 |
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Simon Smith | Chief Financial Officer | 42,006,335 26,149,218 | 0.3 0.42 | 148,249,545 | 0.25 | 216,405,098 | 1.53% |
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| 68,155,553 |
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Harry Berry | Non-Executive Director | 5,000,000 7,000,000 22,320,884 | 0.38 0.29 0.28 | 74,588,871 | 0.25 | 108,909,755 | 0.77% |
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| 34,320,884 |
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The Options for all three directors are exercisable as to 33 per cent. of the issued amount from 1 July 2017 and 33 per cent. of the issued amount on 1 July for each of the following two years.
The Options will lapse if unexercised after 10 years from the date of grant. The Options have been issued at an exercise price of 0.25 pence per share, which represents a 39 per cent. premium to the Placing price of 0.18 pence approved by shareholders at the General Meeting held on 30 June 2016 and a premium of 40.8 per cent. to the closing market price on 6 July 2016, being the day before the options were issued. The Options already held by all three directors are at significant premiums to the current share price and can be seen in the table above.
The Options listed above are the only share options currently held by each of John Cronin, Simon Smith and Harry Berry, and represent a total of 6.3 per cent. of the issued share capital following admission to AIM on 1 July 2016 of the 7,026,259,138 new ordinary shares issued pursuant to the Placing announced on 14 June 2016 (the "current issued share capital").
In addition to the Options, the directors above have the following interests in ordinary shares in the company:
Name | Amount invested to date (£) | Amount to be invested via salary sacrifice from July 2016 to June 2017 (£) | Total invested/to be invested through to July 2017 (£) | No of ordinary shares in July 2017 | Percentage of current issued share capital |
John Cronin | 417,290 | 374,009 | 791,299 | 386,135,926 | 2.73% |
Simon Smith | 352,677 | 152,920 | 505,597 | 210,833,244 | 1.49% |
Harry Berry | 113,600 | 89,009 | 202,609 | 95,330,380 | 0.67% |
TOTAL | 883,567 | 615,938 | 1,499,505 | 692,299,550 | 4.89% |
Following the above grants, the total number of ordinary shares under option represents 13.5 per cent. of the current issued share capital of the Group.
Enquiries:
Cyan Holdings plc | www.cyantechnology.com |
John Cronin, Executive Chairman
| Tel: +44 (0) 1954 234 400 |
Cantor Fitzgerald Europe NOMAD and Joint Broker |
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Andrew Craig / Richard Salmond
Beaufort Securities Limited Joint Broker Jon Belliss
| Tel: +44 (0) 20 7894 7000
Tel: +44 (0) 20 7382 8300 |
Walbrook PR (Investor Relations) |
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Paul Cornelius / Nick Rome | Tel: +44(0) 20 7933 8780 cyanconnode@walbrookpr.com |