Cyan Holdings Plc Board Changes (5010K)
December 31 2015 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 5010K
Cyan Holdings Plc
31 December 2015
Cyan Holdings plc
("Cyan" or the "Company")
Board Changes
Cyan (AIM:CYAN.L), the integrated system and software design
company delivering mesh based flexible wireless solutions for
utility metering and lighting control, announces that Paul Ratcliff
has been appointed to the Board as a non-executive director to the
Company with effect from 01 January 2016.
Paul is a multi-disciplined, entrepreneur with a wealth of
practical experience in growing companies' values. He is well
versed in creating shareholder value and growing businesses and has
been involved in a number of corporate transactions resulting in
premium returns for investors. At present, Paul holds non-executive
positions for a number of companies operating in a range of sectors
including IT, managed services and software. With strong analytical
skills, Paul started his career working in various marketing and
product development roles in large corporates before becoming a
senior consultant for Coopers & Lybrand, within its
London-based business information management practice.
The Board also announces that on 01 January 2016 Peter Mainz
will be appointed to Itron's Board which requires him to stand down
from his non-executive director role at Cyan, effective 31 December
2015, due to his fiduciary responsibilities and the US Securities
and Exchange Commission rules. Peter will remain a senior advisor
and shareholder and continues to be highly supportive of the
Company.
John Cronin, Executive Chairman of Cyan, commented: "We are
delighted to welcome Paul to the Board. Paul's wealth of
experience, across a number of disciplines, will provide additional
complementary skills to the Cyan Board as the business continues to
build momentum.
"We are pleased that Peter will remain part of Cyan and help the
Company to build on a growing number of opportunities. Peter's
industry knowledge and experience will remain invaluable as we
continue to grow the business."
Paul Ratcliff commented: "Cyan has made significant progress in
2015 with substantial orders, including recurring revenue derived
from Cyan's software and managed services. I am delighted to be
joining the Board at this time and look forward to using my
experience to continue the evolution of Cyan's IP/software-based
business model to deliver substantial recurring revenue streams and
build significant shareholder value."
Pursuant to Schedule 2 (g) of the AIM Rules for Companies the
following is disclosed in relation to Paul Graham Ratcliff (age
60):
Current Directorships and Partnerships:
Eledecks Limited
Red Unida Limited
Armchair Answercall Limited
HFAA Limited
Healthfund Limited
Past Directorships and Partnerships held in the previous five
years:
QLagoon Limited
Lagoon Financial Services Limited
Icon Payments Services Limited
Paul does not currently hold any shares in, or options over
shares in, the capital of the Company.
Enquiries:
Cyan Holdings plc Tel: +44 (0) 1954
234 400
John Cronin, Executive Chairman www.cyantechnology.com
Cantor Fitzgerald Europe - Tel: +44 (0)207
Nomad and Broker 894 7719
Andrew Craig/Chris Viggor
Beaufort Securities Limited Tel: +44 (0) 20
- Joint Broker 73828300
Jon Belliss
Walbrook PR - Financial PR Tel: +44(0) 20 7933
8780
Paul Cornelius/Nick Rome cyan@walbrookpr.com
About Cyan
Cyan provides a communication platform for energy, lighting and
emerging applications in the wider 'Internet of Things' network.
Its integrated platform and partner collaborations deliver
end-to-end solutions that connect millions of devices and support
bidirectional communication with the end customer. Cyan's smart
metering and lighting solutions enhance quality of service in
emerging regions, through power savings, lower operating costs and
increased cost efficiency. Our vision to create improved value
through Smart City solutions has provided our customers with the
foundation upon which to build incremental services as these
markets evolve.
For more information, please visit www.cyantechnology.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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