Cyan Holdings Plc Issue of Options (1820W)

TIDMCYAN

RNS Number : 1820W

Cyan Holdings Plc

23 December 2013

Cyan Holdings plc

("Cyan" or the "Company")

Issue of options

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 it has granted options over a total of 76,560,756 new ordinary shares to John Cronin, Executive Chairman, at an exercise price of 0.30 pence per share, and options over a total of 42,006,335 new ordinary shares to Simon Smith, Chief Financial Officer, also at an exercise price of 0.30 pence per share (together the "EMI Options"). The EMI Options were granted under the Company's EMI Share Option Scheme.

The EMI Options for John Cronin are exercisable as to 25 per cent. of the issued amount from 1 August 2014 and 25 per cent. of the issued amount on 1 August for each of the following three years. The EMI Options for Simon Smith are exercisable as to 25 per cent. of the issued amount from 1 October 2014, and 25 per cent. of the issued amount on 1 October for each of the following three years. The EMI Options will lapse if unexercised after 10 years from the date of grant. The EMI Options have been issued at an exercise price of 0.30 pence per share, which represents a 100 per cent. premium to the Placing price of 0.15p approved by shareholders at the General Meeting held yesterday.

The EMI Options are the only share options currently held by either John Cronin or Simon Smith, and represent a total of 3.48 per cent. of the issued share capital following admission to AIM on 20 December 2013 of the 733,333,333 new ordinary shares issued pursuant to the Placing announced on 2 December 2013 (the "current issued share capital").

In addition to the EMI Options, John Cronin has an interest in 79,099,191 ordinary shares, being 2.32 per cent. of the current issued share capital. Simon Smith has an interest in 52,623,731 ordinary shares, being 1.54 per cent. of the current issued share capital.

A total of 173,329,478 EMI Options, also exercisable at 0.30 pence per share, were issued to other Cyan staff members, representing 5.09 per cent. of the current issued share capital. No EMI Options were issued to the Non-Executive Directors. Following the above grants, the total number of ordinary shares under option represents 9.67 per cent. of the current issued share capital.

Enquiries:

 
 Cyan Holdings plc               www.cyantechnology.com 
 John Cronin, Chairman           Tel: +44 (0) 1954 234 400 
 Allenby Capital Limited 
  NOMAD and Joint Broker 
 Jeremy Porter / Mark Connelly   Tel: +44 (0) 20 3328 5656 
 
  XCAP Securities plc 
  Joint Broker 
  Jon Belliss / Adrian Kirk       Tel: +44 (0) 20 7101 7070 
 Walbrook PR 
  Financial PR 
 Paul Cornelius                  Tel: +44(0) 20 7933 8780

This information is provided by RNS

The company news service from the London Stock Exchange

END

RDSFEDSSDFDSESE

Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Jun 2024 to Jul 2024