Cyan Holdings Plc Issue of Equity (2621E)

TIDMCYAN

RNS Number : 2621E

Cyan Holdings Plc

15 July 2016

Cyan Holdings plc

("CyanConnode" or the "Company")

Issue of Equity

CyanConnode (AIM:CYAN.L), the world leader in narrowband RF mesh networks for Omni Internet of Things communications, announces that following the Company's announcement in its circular dated 14 June 2016 (the "Circular") in which it was set out that all Directors had agreed to receive shares in the Company at the placing price of 0.18 pence per Ordinary Share rather than receive their salary or any bonuses that became due during the period 1 July 2016 to 30 June 2017 in cash, and certain employees had agreed to receive shares in the Company at the placing price of 0.18 pence per ordinary share rather than any bonuses that became due during the same period, it has today issued the following shares of 0.01 pence per share (the "Income Shares" as defined in the Circular) to the directors of the Company:

 
 Name         Position                 Shares        Previous   New shareholding     Per cent. 
                                       issued    shareholding                        of issued 
                                                                                         share 
                                                                                       capital 
                                                                                    post issue 
 John         Executive 
  Cronin       Chairman           103,891,389     178,353,148        282,244,537          1.97 
 
 Simon        Chief Financial 
  Smith        Officer             42,477,778     125,877,688        168,355,466          1.17 
 
 Harry        Non-Executive 
  Berry        Director            12,362,361      46,880,936         59,243,297          0.41 
 
 John         Non-Executive 
  Read         Director             2,694,166      44,040,365         46,734,531          0.33 
 
 Paul         Non-Executive 
  Ratcliff     Director             2,967,777       2,777,750          5,745,527          0.04

The share issues described above include shares relating to contractual bonuses due for H1 2016 for each of the Executive Directors (John Cronin and Simon Smith) and six months' salary payable over the 12 month period from 1 July 2016 to 30 June 2017 for each of these directors (equivalent to their contractual notice periods). The share issues also include three months' salary payable to the Non-Executive Directors (equivalent to their contractual notice periods) over the 12 month period from 1 July 2016 to 30 June 2017. It is further intended that following this initial issue, shares pursuant to this arrangement will then be issued on a fixed monthly basis on the first day of each month commencing on 1 August 2016 until such time that shares relating to a full 12 months' salary/bonus have been issued to each of the directors.

In addition 20,370,028 Ordinary Shares have been issued to other employees of the Company in respect of the their agreement to receive shares in the Company at the placing price of 0.18 pence per Ordinary Share rather than receive their bonuses that became due during the period 1 July 2016 to 30 June 2017 in cash. The shares issued relate to H1 2016 bonuses that have become payable

Following these issues made, the Company confirms it has 14,341,238,130 ordinary shares of 0.01 pence per share in issue.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). This inside information is now considered to be in the public domain.

Enquiries:

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 15, 2016 02:00 ET (06:00 GMT)

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