CyanConnode Holdings PLC Issue of Options (7348B)

TIDMCYAN

RNS Number : 7348B

CyanConnode Holdings PLC

05 April 2017

CyanConnode Holdings plc

("CyanConnode" or the "Group")

Issue of Options

CyanConnode (AIM:CYAN.L), the world leader in narrowband radio mesh networks, announces that it has awarded options to acquire ordinary shares of 0.01 pence per share in the Company ("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, as follows:

 
 Name       Position         Current        Exercise      Number        Exercise   Total         Per 
                              number         Price         of new        price      number        cent. 
                              of Options     of current    Options       (in        of Options    of 
                              held           Options       granted       pence      now held      current 
                                             (in pence                   per                      issued 
                                             per share)                  share)                   share 
                                                                                                  capital 
---------  ---------------  -------------  ------------  ------------  ---------  ------------  --------- 
 John       Executive          76,560,756 
  Cronin     Chairman         101,689,440          0.30   146,130,076     0.2172   711,960,781      4.00% 
                              387,580,509          0.42 
                                                   0.25 
                              565,830,705 
                            ------------- 
 
            Chief 
 Simon       Financial         42,006,335 
  Smith      Officer           26,149,218          0.30    57,026,371     0.2172   273,431,469      1.53% 
                                                   0.42 
                              148,249,545          0.25 
                            ------------- 
                              216,405,098 
                            ------------- 
 
                                5,000,000 
 Harry      Non-Executive       7,000,000 
  Berry      Director          22,320,884          0.38    28,513,186     0.2172   137,422,941      0.77% 
                                                   0.29 
                                                   0.28 
                               74,588,871          0.25 
                            ------------- 
                              108,989,755 
                            ------------- 
 
 

The Options for all three directors are exercisable as to 33 per cent. of the issued amount from 3 April 2018 and 33 per cent. of the issued amount on 3 April 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 0.2172 pence per share, which represents a 28 per cent. premium to the Placing price of 0.17 pence approved by shareholders at the General Meeting held on 3 April 2017 and a premium of 20 per cent. to the closing market price on 5 April 2017, 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 7 April 2017 of the 1,906,912,392 new ordinary shares issued pursuant to the Placing announced on 17 March 2017.

In addition to the Options, the directors above have the following interests in ordinary shares in the company:

 
 Name           Amount invested   No of ordinary      Percentage 
                  to date (GBP)      shares held      of current 
                                                    issued share 
                                                         capital 
-------------  ----------------  ---------------  -------------- 
 John Cronin            791,217      386,090,663           2.17% 
-------------  ----------------  ---------------  -------------- 
 Simon Smith            505,238      210,633,681           1.18% 
-------------  ----------------  ---------------  -------------- 
 Harry Berry            203,021       96,559,292           0.54% 
-------------  ----------------  ---------------  -------------- 
 TOTAL                1,499,476      693,283,636           3.89% 
-------------  ----------------  ---------------  -------------- 
 

Following the above grants, the total number of ordinary shares under option represent 12.7 per cent. of the current issued share capital of the Group.

Enquiries:

 
 CyanConnode Holdings           www.cyanconnode.com 
  plc 
 John Cronin, Executive         Tel: [phone] 
  Chairman                       060 
 Cantor Fitzgerald Europe 
  NOMAD and Joint Broker 
 Andrew Craig / Richard         Tel: [phone] 
  Salmond                        7000 
 
  Beaufort Securities Limited 
  Joint Broker 
  Jon Belliss                    Tel: [phone] 
                                 8300 
 Walbrook PR 
  (Investor Relations)            [e-mail] 
 Paul Cornelius / Nick          Tel: [phone] 
  Rome 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 06, 2017 04:21 ET (08:21 GMT)