CyanConnode Holdings PLC Director/PDMR Shareholding (1234D)

TIDMCYAN

RNS Number : 1234D

CyanConnode Holdings PLC

29 January 2018

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Director Share Purchases

CyanConnode (AIM:CYAN.L), the world leader in narrowband radio mesh networks, announces that John Cronin, Executive Chairman, has purchased 200,000 ordinary shares of 2.0p in the Company ("Ordinary Shares"), at a price of 14.8 pence per share.

This brings John Cronin's interest in the Company's current issued share capital to 2,413,467 Ordinary Shares, being approximately 1.89% of the current issued share capital. The total amount invested to date in the Company by Mr Cronin is GBP886k.

John Cronin commented: "Over recent weeks we've seen the share price decline and believe this has been largely down to the sale of shares by CapMan following the end of the lock-in period imposed on these shares which was agreed as part of the purchase of Connode in July 2016. CapMan had always advised it was their intention to sell their shares due to their funds being in the wind-down phase for final distribution to their investors and now this sale is complete, with all the shares successfully placed with CyanConnode shareholders. I decided to purchase further shares in the market to further demonstrate my commitment to the Company and its shareholders."

Furthermore, pursuant to the CyanConnode Matching Share Plan (the "Plan"), details of which were set out most recently in the Company's RNS dated 27 June 2017, and following the above purchases, the Company will now grant options over 200,000 Ordinary Shares to John Cronin. Under the terms of this Plan the options would have been granted at the same price at which the shares were purchased, however Mr Cronin has agreed to having these options issued at a price twice that of the purchase price of the shares. The exercise price will therefore be 29.6 pence per Ordinary Share. The higher strike price means that the options will have no value whatsoever until the share price doubles and will only have significant value if the share price increases by a large multiple from that today.

Following this grant, John Cronin will hold options over 758,101 Ordinary Shares. In addition, he holds interests over 4,601,625 Ordinary Shares under the Company's Joint Share Ownership Plan.

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                             John Cronin 
---  -------------------------------  --------------------------------------------------- 
 2.   Reason for the Notification 
---  ------------------------------------------------------------------------------------ 
 a)   Position/status                  Executive Chairman 
---  -------------------------------  --------------------------------------------------- 
 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                              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                     Ordinary shares 
       the Financial                       of 2.0p 
       instrument, type 
       of instrument                       And options over 
                                           ordinary shares 
                                           of 2.0p 
--- 
      Identification                   GB00B0P66Q02 
       code 
---  -------------------------------  --------------------------------------------------- 
 b)   Nature of the                      Purchase of ordinary shares 
       transaction                         Grant of share options 
---  -------------------------------  --------------------------------------------------- 
 c)   Price(s) and 
       volume(s)                         Purchase of Ordinary Shares Price(s)   Volume(s) 
                                         ---------  ---------- 
                                          14.80p     200,000 
                                         ---------  ---------- 
 
 
                                         Grant of Options Exercise Price(s)   Volume(s) 
                                         ------------------  ---------- 
                                          29.6p               200,000 
                                         ------------------  ---------- 
---  -------------------------------  --------------------------------------------------- 
 d)   Aggregated information: 
        *    Aggregated volume           See above 
 
 
        *    Price 
---  -------------------------------  --------------------------------------------------- 
 e)   Date of the transaction          25 January 2018 
---  -------------------------------  --------------------------------------------------- 
 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

END

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January 29, 2018 02:00 ET (07:00 GMT)