Director Shareholding and Issue of Options

RNS Number : 7342B

CyanConnode Holdings PLC

06 April 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, was notified yesterday that Peter Hutton, Non-Executive Director, purchased 26,308,972 ordinary shares of 0.01p in the Company ("Ordinary Shares") yesterday, at a price of 0.19 pence per share.

Peter was appointed to the Board of CyanConnode as a Non-Executive Director three days ago and joined us from his most recent role as a member of the executive committee at Cambridge based ARM Limited, the UK trading company of ARM Holdings plc, which was recently acquired by Softbank Japan for £24 billion.

Following yesterday's purchase, Peter Hutton's interest in the Company's current issued share capital is 26,308,972 Ordinary Shares, being approximately 0.15% of the current issued share capital.

Furthermore, in accordance with the CyanConnode Non-Executive Share Plan, details of which are set out below, and following the above purchase yesterday, the Company has granted options over 26,308,972 Ordinary Shares with an exercise price of 0.19 pence per Ordinary Share to Peter Hutton. Following this grant, Peter Hutton will hold options over 26,308,972 Ordinary Shares.

CyanConnode Non-Executive Share Plan

The Board adopted a share subscription and option plan in July 2014 in order to retain and attract Non-Executive Directors.

Existing and future Non-Executive Directors are offered the opportunity to purchase up to a maximum of £200,000 of Ordinary Shares in the Company at the then current market value and receive an associated grant of options over an equal number of Ordinary shares at the same market value. The options are exercisable only after the fourth anniversary of the date of grant and must be exercised in prior to the tenth anniversary of the date of grant. The options may be exercised in full prior to the fourth anniversary of the date of grant in the event of a sale of the Company. 

Enquiries:

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

 

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