Cyan Holdings Plc Issue of Options (4807D)

TIDMCYAN

RNS Number : 4807D

Cyan Holdings Plc

07 July 2016

Cyan Holdings plc

("CyanConnode" or the "Group")

Issue of Options

CyanConnode (AIM:CYAN.L), the world leader in narrowband RF mesh networks for Omni Internet of Things communications, announces that it has awarded options to acquire ordinary shares of 0.01 pence per share in the Group ("Options") to John Cronin, Executive Chairman, to Simon Smith, Chief Financial Officer, and to Harry Berry, Non-Executive Director and to certain other employees of the Group, including Connode employees following the completion of the acquisition of Connode as announced on 1 July 2016, as follows:

 
 Name       Position           Current        Exercise      Number        Exercise      Total number   Per cent. 
                                number of      Price of      of new        price         of Options     of current 
                                Options        current       Options       (in pence     now held       issued 
                                held           Options       granted       per share)                   share 
                                               (in pence                                                capital 
                                               per share) 
---------  -----------------  -------------  ------------  ------------  ------------  -------------  ------------ 
 John       Executive          76,560,756 
  Cronin     Chairman           101,689,440     0.3 0.42    387,580,509   0.25          565,764,961    4.00% 
                               178,250,196 
                              ------------- 
 
 Simon      Chief Financial    42,006,335 
  Smith      Officer            26,149,218       0.3 0.42   148,249,545   0.25          216,405,098    1.53% 
                              ------------- 
                               68,155,553 
                              ------------- 
 
                               5,000,000 
 Harry      Non-Executive       7,000,000      0.38 0.29 
  Berry      Director           22,320,884        0.28      74,588,871    0.25          108,909,755    0.77% 
                              ------------- 
                               34,320,884 
                              -------------

The Options for all three directors are exercisable as to 33 per cent. of the issued amount from 1 July 2017 and 33 per cent. of the issued amount on 1 July for each of the following two years.

The Options will lapse if unexercised after 10 years from the date of grant. The Options have been issued at an exercise price of 0.25 pence per share, which represents a 39 per cent. premium to the Placing price of 0.18 pence approved by shareholders at the General Meeting held on 30 June 2016 and a premium of 40.8 per cent. to the closing market price on 6 July 2016, being the day before the options were issued. The Options already held by all three directors are at significant premiums to the current share price and can be seen in the table above.

The Options listed above are the only share options currently held by each of John Cronin, Simon Smith and Harry Berry, and represent a total of 6.3 per cent. of the issued share capital following admission to AIM on 1 July 2016 of the 7,026,259,138 new ordinary shares issued pursuant to the Placing announced on 14 June 2016 (the "current issued share capital").

In addition to the Options, the directors above have the following interests in ordinary shares in the company:

 
 Name            Amount       Amount to be      Total invested/to   No of ordinary     Percentage 
                 invested      invested via        be invested         shares in       of current 
                 to date     salary sacrifice       through to         July 2017         issued 
                  (GBP)       from July 2016        July 2017                         share capital 
                               to June 2017           (GBP) 
                                  (GBP) 
-------------  ----------  ------------------  ------------------  ---------------  --------------- 
 John Cronin     417,290         374,009             791,299         386,135,926         2.73% 
-------------  ----------  ------------------  ------------------  ---------------  --------------- 
 Simon Smith     352,677         152,920             505,597         210,833,244         1.49% 
-------------  ----------  ------------------  ------------------  ---------------  --------------- 
 Harry Berry     113,600         89,009              202,609          95,330,380         0.67% 
-------------  ----------  ------------------  ------------------  ---------------  --------------- 
 TOTAL           883,567         615,938            1,499,505        692,299,550         4.89% 
-------------  ----------  ------------------  ------------------  ---------------  ---------------

Following the above grants, the total number of ordinary shares under option represents 13.5 per cent. of the current issued share capital of the Group.

Enquiries:

 
 Cyan Holdings plc                 www.cyantechnology.com 
 John Cronin, Executive Chairman   Tel: +44 (0) 1954 234 400 
 Cantor Fitzgerald Europe 
  NOMAD and Joint Broker 
 Andrew Craig / Richard Salmond    Tel: +44 (0) 20 7894 7000 
 
  Beaufort Securities Limited 
  Joint Broker 
  Jon Belliss                       Tel: +44 (0) 20 7382 8300 
 Walbrook PR 
  (Investor Relations) 
 Paul Cornelius / Nick Rome        Tel: +44(0) 20 7933 8780 
                                    cyanconnode@walbrookpr.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 07, 2016 02:00 ET (06:00 GMT)

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