Exercise of warrants

RNS Number : 9994V

Cyan Holdings Plc

21 January 2013

 



21 January 2013

Cyan Holdings plc

("Cyan" or the "Company")

Exercise of warrants

Cyan Holdings plc (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and  lighting control announces that Warrant Holders have exercised a further 2,326,368 warrants.

These warrants formed part of the placing approved by shareholders in August 2012, and the full particulars of the warrants can be found in the Company's Circular dated 13 July 2012. As a reminder, these warrants were given to all Placees who participated in the Placing in July, in the ratio of one warrant for every two shares subscribed for in the Placing. The warrants have an exercise price of 0.5 pence per share, and can be exercised at any time, at the discretion of the Warrant Holder between 2 August 2012 and 2 August 2013. Upon exercise of warrant, the Company will issue shares equal to the number of warrants exercised. Full instructions on how to exercise the warrants can be found on the Company's website at the following web address:-

http://www.cyantechnology-ir.com/html/investors/agm.asp

The proceeds from this exercise of warrants will be used, along with proceeds of all other warrant exercises, to provide the Company with additional working capital funds to finance an expansion of the business in 2013.

Applications have been made for these Ordinary Shares to be admitted to trading on AIM, which is expected to occur by 24 January 2013.

 Following the issue of these Ordinary Shares, the Company's issued share capital will be 2,329,131,871 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.

Cyan Holdings plc John Cronin, Executive Chairman www.cyantechnology.com	Tel: [phone]
Cenkos Securities plc NOMAD and Joint Broker Stephen Keys / Adrian Hargrave	Tel: [phone]
XCAP Securities plc Joint Broker Jon Belliss / Adrian Kirk	Tel: [phone]
Walbrook PR Financial PR Bob Huxford Paul Cornelius	Tel: [phone] [e-mail] [e-mail]

About Cyan

Cyan is an integrated system design company delivering mesh based flexible wireless solutions for utility metering, lighting control & industrial telemetry. For more information, please visit www.cyantechnology.com.

 

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