CyanConnode Holdings PLC Director Shareholding and Issue of Options (2036J)

TIDMCYAN

RNS Number : 2036J

CyanConnode Holdings PLC

27 June 2017

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Director Shareholding and Issue of Options

CyanConnode (AIM:CYAN.L), the world leader in narrowband radio mesh networks, announces that Simon Smith, Chief Financial Officer, has purchased 13,333,333 ordinary shares of 0.01p in the Company ("Ordinary Shares"), at a price of 0.15 pence per share.

This brings Simon Smith's interest in the Company's current issued share capital to 223,967,014 Ordinary Shares, being approximately 1.25 % of the current issued share capital. The total amount invested to date in the Company by Mr Smith has increased from GBP0.5 million to GBP0.52 million.

This purchase is following the share purchases last week by John Cronin of GBP50,000 and Harry Berry of GBP20,000 and the investment made by all Directors and certain senior managers in the Company over the past 12 months whereby Directors have used 100% of their remuneration to purchase shares in the Company at the July 2016 placing price of 0.18 pence per share. The amount invested by Directors and certain senior managers under this arrangement was GBP0.7 million, and was in addition to GBP0.3 million invested by Directors and senior managers in the Placing in July 2016, bringing the amount already invested in CyanConnode shares by the Directors and relevant senior managers over the last twelve months to GBP1 million.

Simon Smith commented: "As CFO, I would also like to echo the comments that John Cronin and Harry Berry made in the announcements of their GBP50,000 and GBP20,000 respective share purchases at the end of last week. Following the $9.3 million contract award extension received for the customer in Bangladesh on June 15(th) , CyanConnode has won customer orders valued at GBP19 million, which is on top of the expected GBP25M revenue from the rollout of the UK smart metering program. Considering the 2016 reported revenue was GBP1.8 million, these orders provides significant revenue backlog for future periods. We are now becoming a well-established business, with highly competitive solutions which industry leading customers like Tata Power are buying and then re-ordering on a repeat basis. I also viewed the recent share price weakness as an opportunity and have therefore demonstrated my continued commitment and support through this additional share purchase."

Furthermore, pursuant to the CyanConnode Matching Share Plan and following the above purchase, the Company will now grant options over 13,333,333 Ordinary Shares with an exercise price of 0.15 pence per Ordinary Share to Simon Smith. Following this grant, Simon Smith will hold options over 286,764,802 Ordinary Shares.

The announcement on 22 June 2017 stated the incorrect number of options held by John Cronin. The correct figure should be 755,460,781.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

 
 CyanConnode Holdings plc             Tel: [phone] 
                                       060 
 John Cronin, Executive               www.cyanconnode.com 
  Chairman 
 FinnCap Limited (Nomad               Tel: [phone] 
  and Broker)                          0500 
  Adrian Hargrave/Giles Rolls 
  (Corporate Finance) 
  Alice Lane (Corporate Broking) 
 
   Walbrook PR (Investor Relations)     Tel: [phone] 
 Paul Cornelius / Nick Rome           [e-mail] 
 

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                  Chief Financial Officer 
---  -------------------------------  ---------------------------------- 
 b)   Initial notification/Amendment    Initial notification 
---  -------------------------------  ---------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------------------- 
 a)   Name                             CyanConnode Holdings plc 
---  -------------------------------  ---------------------------------- 
 b)   LEI                              n/a 
---  -------------------------------  ---------------------------------- 
 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                     Ordinary shares 
       the Financial                       of 0.01p 
       instrument, type 
       of instrument 
--- 
      Identification                   GB00B0P66Q02 
       code 
---  -------------------------------  ---------------------------------- 
 b)   Nature of the                      Purchase of ordinary shares 
       transaction 
---  -------------------------------  ---------------------------------- 
 c)   Price(s) and                      Price(s)   Volume(s) 
       volume(s)                        ---------  ----------- 
                                         0.15p      13,333,333 
                                        ---------  ----------- 
---  -------------------------------  ---------------------------------- 
 d)   Aggregated information: 
        *    Aggregated volume           Purchase of 13,333,333 ordinary 
                                         shares of 0.01p pence at 0.15 
                                         pence per ordinary share 
        *    Price 
---  -------------------------------  ---------------------------------- 
 e)   Date of the transaction          26 June 2017 
---  -------------------------------  ---------------------------------- 
 f)   Place of the                     London Stock Exchange, AIM 
       transaction                      Market (XLON) 
---  -------------------------------  ---------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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June 27, 2017 02:01 ET (06:01 GMT)