Cyan Holdings Plc Director Shareholding and Issue of Options (4070N)
July 25 2014 - 11:27AM
UK Regulatory
TIDMCYAN
RNS Number : 4070N
Cyan Holdings Plc
25 July 2014
Cyan Holdings plc
("Cyan" or the "Company")
Director Shareholding and 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, is pleased to
announce that Harry Berry, Non-Executive Director, has today
purchased a total of 5,000,000 0.01p ordinary shares in the Company
("Ordinary Shares") at a price of 0.38 pence per share.
This brings Harry Berry's interest in the Company's current
issued share capital to 5,000,000 Ordinary Shares, being
approximately 0.14% of the current issued share capital.
Furthermore, Cyan has put in place the Cyan Non-Executive Share
Plan, which is detailed below, and following the above purchase
today, the Company will now grant options over 5,000,000 Ordinary
Shares with an exercise price of 0.38 pence per Ordinary Share to
Harry Berry pursuant to the Cyan Non-Executive Share Plan.
Following this grant, Harry Berry will hold options over 5,000,000
Ordinary Shares.
Cyan Non-Executive Share Plan
The Board has adopted a share subscription and option plan in
order to retain and attract Non-Executive Directors.
Existing and future Non-Executive Directors will be offered the
opportunity to purchase up to a maximum of GBP200,000 for 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 key terms of the subscription and options are as
follows:
-- The Non-Executive would decide the number of ordinary shares
that he or she wishes to purchase (up to the maximum subscription
of GBP200,000) at the then market price.
-- The Company will grant the Non-Executive options to subscribe
for an equal number of ordinary shares exercisable at the same
market price per share.
-- The options will ordinarily be exercisable only after the
fourth anniversary of the date of grant.
-- The options must be exercised in any event 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 successful
takeover of the Company.
Enquiries:
Cyan Holdings plc www.cyantechnology.com
John Cronin, Chairman Tel: +44 (0) 1954 234 400
Allenby Capital Limited
Nominated Adviser and Joint
Broker
Jeremy Porter / Michael McNeilly Tel: +44 (0) 20 3328 5656
Hume Capital Securities plc
Joint Broker
Jon Belliss 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
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