Cyan Holdings Plc Issue of Options (2474A)
December 19 2014 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 2474A
Cyan Holdings Plc
19 December 2014
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 Unapproved Options over a total of 22,320,884 new
ordinary shares to Harry Berry, Non-Executive Director, at an
exercise price of 0.305 pence per share, being the closing market
price on 18 December 2014.
These Unapproved Options are being issued in lieu of payment for
work to be performed by Harry Berry outside of his duties as a
Non-Executive Director, including assistance with business
development, strategic partnerships, financing and M&A, over a
four year period commencing in December 2014.
The Options are exercisable as to 6.25 per cent. of the issued
amount per quarter from 9 March 2015 over a four year period. The
Options will lapse if unexercised after 10 years from the date of
grant. Any unvested Options will also lapse should the work being
done by Mr Berry cease during the four year period.
The Unapproved Options represent a total of 0.5 per cent. of the
current issued share capital of the Company of 4,464,176,890
ordinary shares of 0.01p each (the "current issued share
capital").
Harry Berry currently holds 17,714,286 shares in the company,
being 0.40 per cent. of the current issued share capital and
12,000,000 Unapproved Options in the Cyan Non-Executive Share Plan.
This issue of Unapproved Options will bring his total options in
issue to 34,320,884, being 0.77 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 Tel: +44 (0) 20 3328
Nominated Adviser and 5656
Joint Broker Jeremy Porter
/ Chris Crawford
Hume Capital Securities Tel: +44 (0) 20 7101
plc 7070
Joint Broker
Jon Belliss
Walbrook PR Cyan@walbrookpr.com
Financial PR Tel: +44(0) 20 7933 8780
Paul Cornelius / Nick
Rome
This information is provided by RNS
The company news service from the London Stock Exchange
END
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