Cyan Holdings Plc Result of General Meeting (5327P)

TIDMCYAN

RNS Number : 5327P

Cyan Holdings Plc

19 August 2014

Cyan Holdings plc

("Cyan" or the "Company")

Result of General Meeting

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 at the Company's General Meeting held earlier today, all of the resolutions were duly passed, including the approval of the placing of 1,000,000,000 ordinary shares (the "Placing Shares") at 0.35p each to raise GBP3.5 million before expenses and the issue of warrants to subscribe for up to a further 500,000,000 ordinary shares at 0.6p per ordinary share. Following such approvals and save only for Admission (as defined below), the placing of 1,000,000,000 Placing Shares at 0.35p each, as announced on 25 July 2014, is now complete.

Application has been made for the Placing Shares to be admitted to trading on AIM ("Admission") and Admission is expected to become effective at 8.00 a.m. on 20 August 2014.

Following Admission the Company's issued share capital will be 4,456,248,637 ordinary shares of 0.01p each. The Company does not hold any shares in treasury. This figure (4,456,248,637 ordinary shares) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

Following Admission, the Directors' shareholdings will be as follows:

 
                  No. of Placing       No. of ordinary     % of issued     No. of warrants 
               Shares subscribed   shares on Admission   share capital   held on Admission 
                                                          on Admission 
John Cronin            7,142,857            90,242,048           2.03%           3,571,429 
Simon Smith            7,142,857            64,766,588           1.45%           3,571,429 
John Read              4,285,714            33,484,815           0.75%           2,142,857 
Harry Berry            5,714,286            10,714,286           0.24%           2,857,142 
Peter Mainz            4,285,714             4,285,714           0.10%           2,142,857

Enquiries:

 
 Cyan Holdings plc                            www.cyantechnology.com 
  John Cronin, Chairman                        Tel: +44 (0) 1954 234 
                                               400 
 Allenby Capital Ltd - Nominated Adviser      Tel: +44 (0) 20 3228 
  and Joint Broker                             5656 
  Jeremy Porter/Michael McNeilly 
                                             ------------------------- 
 Hume Capital Securities plc - Joint Broker   Tel: +44 (0) 20 7101 
  Jon Belliss                                  7070 
                                             ------------------------- 
 Walbrook PR - Financial PR                   Tel: +44(0) 20 7933 8780 
  Paul Cornelius                               cyan@walbrookpr.com 
                                             -------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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