TIDMCYAN
RNS Number : 5194U
CyanConnode Holdings PLC
25 October 2017
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Director / PDMR Shareholdings
CyanConnode (AIM:CYAN.L), the world leader in narrowband radio
mesh networks, announces that on 23 October 2017 interests were
granted to certain directors and employees over ordinary shares of
2 pence each ("Ordinary Shares") to be issued to the Company's
Employee Benefit Trust ("EBT") (the "Awards"). The Company's EBT
scheme, which was introduced by the Company in 2008, is a Joint
Share Ownership Plan ("JSOP") and its terms entitle the holders to
the value of such Ordinary Shares as set out in the table
below.
All of these interests over Ordinary Shares will vest on the
dates set out below. 6,400,201 of the Awards have replaced the same
number of unapproved share options held by these directors and
employees. These Awards have been made on terms that will entitle
the holders to the value of such Ordinary Share above a price
calculated as the weighted average exercise price of the unapproved
options being replaced. The remaining 2,736,571 Awards are new
awards, and entitle the holders to the value of such Ordinary
Shares above a price of 33.30 pence per Ordinary Share, which is a
premium of 24.5 per cent on the mid-market closing share price of
26.75p on 23 October 2017.
In order for the EBT to have sufficient Ordinary Shares to cover
the Awards, the EBT will be issued 9,136,772 Ordinary Shares.
Application will be made for these 9,136,772 new Ordinary Shares to
be admitted to trading on the Alternative Investment Market ("AIM")
of London Stock Exchange plc. Admission of the new Ordinary Shares
is expected to become effective on 1 November 2017
("Admission").
Following the issue of the new Ordinary Shares, the Company's
total issued share capital with voting rights and which is admitted
to trading on AIM will consist of 127,764,137 Ordinary Shares. The
Company does not hold any shares in treasury. This figure of
127,764,137 may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the Disclosure Guidance and Transparency Rules.
Following the above transfers of interests, the three directors
receiving the awards shall hold options and awards in interests as
follows:
Name Position Current number Exercise Price Per cent.
of Options of current of issued
held Options (in share capital*
pence per
share)
-------------- ------------ --------------- --------------- ----------------
EMI OPTIONS
John Cronin Executive 382,804 60.0
Chairman
175,297 84.0
558,101 0.44%
---------------
Simon Smith NED 210,032 60.0
130,746 84.0
255,526 50.0
---------------
596,304 0.47%
---------------
Harry Berry Chief 372,944 50.0
Operating
Officer
142,566 43.4
70,000 28.0
149,664 37.2
---------------
735,174 0.58%
---------------
* Post Admission
Name Position Interest Exercise New / replacement Per cent.
in Ordinary Price of of issued
Shares current share capital*
Awarded Options
(in pence
per share)
----------------- ------------- ------------- ------------- ------------------ ----------------
INTEREST IN
SHARES AWARDED
John Cronin
Executive Replacement
Chairman
3,219,200 49.64 33.30 New
1,382,425
4,601,625 3.60%
-------------
Simon Smith NED 837,520 45.02 33.30 Replacement
132,275 New
969,795 0.76%
-------------
Harry Berry COO 2,076,085 39.04 33.30 Replacement
925,303 New
3,001,388 2.35%
-------------
* Post Admission
The interests in Ordinary Shares awarded for all three directors
shall vest as follows:-
The interests replacing Unapproved Options
1,133,360 shall vest immediately
2,633,420 shall vest after 12 months
2,633,421 shall vest after 24 months
The new interests being awarded
All of these interests shall vest as to 33% per year over the
following 3 years.
The EMI Options will lapse if unexercised after 10 years from
the date of grant.
Following these awards, the directors above have the following
interests in ordinary shares in the company:
Name Amount invested No of ordinary Interests Interest Percentage
to date shares held in Ordinary in issued of issued
Shares through share capital share capital*
JSOP of the Company
------------- ----------------- --------------- ---------------- ---------------- ----------------
John Cronin GBP841,242 2,147,953 4,601,625 6,749,578 5.28%
Simon Smith GBP525,238 1,119,835 969,795 2,089,630 1.64%
Harry Berry GBP222,621 552,796 3,001,388 3,554,184 2.78%
------------- ----------------- --------------- ---------------- ---------------- ----------------
TOTAL GBP1,589,101 3,820,584 8,572,808 12,393,392 9.70%
------------- ----------------- --------------- ---------------- ---------------- ----------------
* Post Admission
Enquiries:
CyanConnode Holdings plc www.cyanconnode.com
John Cronin, Executive Chairman Tel: +44 (0) 1223 225
060
finnCap Ltd
(NOMAD and Broker)
Adrian Hargrave / Giles Rolls (Corporate Tel: +44 (0) 20 7220
Finance) 0500
Alice Lane (Corporate Broking)
Walbrook PR
(Investor Relations) cyanconnode@walbrookpr.com
Paul Cornelius / Nick Rome Tel: +44(0) 20 7933
8780
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of the person discharging managerial responsibilities
/ person closely associated
--- --------------------------------------------------------------------
a) Name Simon Smith
--- ------------------------------- -----------------------------------
2. Reason for the Notification
--- --------------------------------------------------------------------
a) Position/status PDMR
--- ------------------------------- -----------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- -----------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- --------------------------------------------------------------------
a) Name CyanConnode Holdings plc
--- ------------------------------- -----------------------------------
b) LEI 213800MDLW3GKKW5TT58
--- ------------------------------- -----------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--- --------------------------------------------------------------------
a) Description of the Ordinary shares of
Financial instrument, 2p
type of instrument
---
Identification code GB00B0P66Q02
--- ------------------------------- -----------------------------------
b) Nature of the transaction Cancellation of Options &
Grant of Options
--- ------------------------------- -----------------------------------
c) Price(s) and volume(s) Cancellation of Options
------------------------------
Exercise price(s) Volume(s)
(pence)
------------------ ----------
50.00 485,721
43.40 285,132
30.00 66,667
------------------ ----------
Grant of Options
------------------------------
Exercise price(s) Volume(s)
(pence)
------------------ ----------
45.02 837,520
33.30 132,275
------------------ ----------
--- ------------------------------- -----------------------------------
d) Aggregated information:
* Aggregated volume As above
* Price
--- ------------------------------- -----------------------------------
e) Date of the transaction 25 October 2017
--- ------------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
--- ------------------------------- -----------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
--- ----------------------------------------------------------------------
a) Name John Cronin
--- ------------------------------- -------------------------------------
2. Reason for the Notification
--- ----------------------------------------------------------------------
a) Position/status PDMR
--- ------------------------------- -------------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- ----------------------------------------------------------------------
a) Name CyanConnode Holdings plc
--- ------------------------------- -------------------------------------
b) LEI 213800MDLW3GKKW5TT58
--- ------------------------------- -------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------------------------
a) Description of the Ordinary shares of
Financial instrument, 2p
type of instrument
---
Identification code GB00B0P66Q02
--- ------------------------------- -------------------------------------
b) Nature of the transaction Cancellation of Options &
Grant of Options
--- ------------------------------- -------------------------------------
c) Price(s) and volume(s) Cancellation of Options
--------------------------------
Exercise price(s) Volume(s)
(pence)
------------------ ------------
84.00 333,148
50.00 1,937,902
43.40 730,650
23.00 217,500
------------------ ------------
Grant of Options
-------------------------------
Exercise price(s) Volume(s)
(pence)
------------------ -----------
49.64 3,219,200
33.30 1,382,425
------------------ -----------
--- ------------------------------- -------------------------------------
d) Aggregated information:
* Aggregated volume As above
* Price
--- ------------------------------- -------------------------------------
e) Date of the transaction 25 October 2017
--- ------------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
--- ------------------------------- -------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
--- ----------------------------------------------------------------------
a) Name Harry Berry
--- ------------------------------- -------------------------------------
2. Reason for the Notification
--- ----------------------------------------------------------------------
a) Position/status PDMR
--- ------------------------------- -------------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- ----------------------------------------------------------------------
a) Name CyanConnode Holdings plc
--- ------------------------------- -------------------------------------
b) LEI 213800MDLW3GKKW5TT58
--- ------------------------------- -------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------------------------
a) Description of the Ordinary shares of
Financial instrument, 2p
type of instrument
---
Identification code GB00B0P66Q02
--- ------------------------------- -------------------------------------
b) Nature of the transaction Cancellation of Options &
Grant of Options
--- ------------------------------- -------------------------------------
c) Price(s) and volume(s) Cancellation of Options
--------------------------------
Exercise price(s) Volume(s)
(pence)
------------------ ------------
76.00 25,000
58.75 35,000
56.00 111,604
37.20 1,904,481
------------------ ------------
Grant of Options
------------------------------
Exercise price(s) Volume(s)
(pence)
------------------ ----------
39.04 2,076,085
33.30 925,303
------------------ ----------
--- ------------------------------- -------------------------------------
d) Aggregated information:
* Aggregated volume As above
* Price
--- ------------------------------- -------------------------------------
e) Date of the transaction 25 October 2017
--- ------------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
--- ------------------------------- -------------------------------------
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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