CyanConnode Holdings PLC Board Changes (2558B)
April 03 2017 - 2:01AM
UK Regulatory
TIDMCYAN
RNS Number : 2558B
CyanConnode Holdings PLC
03 April 2017
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Board Changes
Appointment of Non-Executive Director from ARM
CyanConnode, the world leader in narrowband radio mesh networks,
announces that Pete Hutton has been appointed to the Board of
CyanConnode Holdings plc as a non-executive director with immediate
effect.
Pete joins us from his most recent role as a member of the
executive committee at Cambridge based ARM Limited, the UK trading
company of ARM Holdings plc. During the period he spent with ARM
from 2008 to 2016, revenues grew from GBP259 million to GBP1,234
million, culminating in the acquisition by Softbank Japan for GBP24
billion in cash in September 2016. He brings with him a wealth of
practical experience in the Internet of Things ("IoT") market, as
well as strong relationships from C-Suite down with Asian,
European, and US technology companies.
During his time at ARM, he served on the board of a number of
worldwide subsidiaries and was extensively involved in running
product groups across the company. In total, Pete has over 30 years
of business experience and is well versed in building large
businesses using the technology licensing and royalty model, not
only from his nine years at ARM, but also from 2003 to 2007 when he
was Senior Vice President and General Manager at semiconductor IP
licensing company ARC International. He has been involved in a wide
range of investment and acquisitions, the largest being the Apical
acquisition by ARM for $350 million.
Pete will be at the General Meeting being held this morning at
our offices in Cambridge
(http://cyanconnode.com/investors/important-dates/) and there will
be an opportunity for shareholders to meet him there.
The Board also announces that as indicated at the time of the
Company's Annual General Meeting in 2016, Dr John Read, who has
served on the board of the Company since 2005, and served as
Chairman of CyanConnode from 2007 to 2012, will retire from the
Company and stand down from the Board following the Company's
Annual General Meeting in June 2017. We would like to thank John
for his contribution and support at CyanConnode and wish him well
in his retirement.
John Cronin, Executive Chairman of Cyan, commented: "We are
delighted to welcome Pete to the Board. Pete's wealth of experience
from ARM and within the IoT sector as well as in system and product
design, will provide additional complementary skills to the Cyan
Board as the business continues to build momentum. His strong
network of contacts will undoubtedly be of significant value as we
continue to build out the commercial opportunity at CyanConnode
through Tier 1 strategic partners.
I would also like to thank John Read for his contribution and
commitment to the Company, and wish him all the best in his
retirement."
Pete Hutton commented: "This is an ideal time for me to join the
Board of CyanConnode. The Company has now secured multiple
contracts in both developing and developed markets across the
world. Based on my experience at ARM, I look forward to adding
value in both migrating the business model from hardware/software
to technology license royalties/software as well as building out
the portfolio of strategic partnerships."
Pursuant to Schedule 2 (g) of the AIM Rules for Companies the
following is disclosed in relation to Peter Ronald Hutton (age
55):
Current Directorships and Partnerships:
Cambridge Management Systems Limited
Past Directorships and Partnerships held in the previous five
years:
ARM Electronic Technology (Shanghai) Co, Limited
ARM Korea Limited
ARM Sweden AB
ARM Norway AS
ARM Belgium Services BVBA
ARM Limited
ARM IP LIMITED
Enedence Limited
Marmalade Technologies Limited
Pete does not currently hold any shares in, or options over
shares in, the capital of the Company.
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:
CyanConnode Holdings plc Tel: +44 (0) 1223
225 060
John Cronin, Executive Chairman www.cyanconnode.com
Cantor Fitzgerald Europe - Tel: +44 20 7894
Nomad and Broker 7000
Andrew Craig / Richard Salmond
Beaufort Securities Limited Tel: +44 (0) 20
- Joint Broker 7382 8300
Jon Belliss
Walbrook PR - Financial PR Tel: +44(0) 20 7933
8780
Paul Cornelius / Nick Rome cyanconnode@walbrookpr.com
About CyanConnode
CyanConnode is a world leader in narrowband RF mesh networks
that enable Omni Internet of Things (IoT) communications. Its
innovative solutions use sub GHz frequencies and are optimised for
exceptional performance. Ultimesh solutions provide end-to-end
quality of service and total cost of ownership and Panmesh delivers
standards-based IPv6 solutions, enabling rapid innovation for the
implementation of 3(rd) party applications. Through its global
partner eco-system, CyanConnode provides customers with the
flexibility and choice required to converge networks for
applications in smart cities and IoT, delivering increased customer
value.
For more information, please visit www.cyanconnode.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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