CyanConnode Holdings PLC Director/PDMR Shareholding (0203Z)
December 12 2017 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 0203Z
CyanConnode Holdings PLC
12 December 2017
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Director Share Purchases
CyanConnode (AIM:CYAN.L), the world leader in narrowband radio
mesh networks, announces that Harry Berry, Chief Operating Officer,
has purchased 71,423 ordinary shares of 2.0p in the Company
("Ordinary Shares"), at a price of 21.0 pence per share and Paul
Ratcliff (Non-Executive Director) has purchased 71,633 Ordinary
Shares at a price of 20.94 pence per share.
This brings Harry Berry's interest in the Company's current
issued share capital to 624,219 Ordinary Shares, being
approximately 0.49 % of the current issued share capital. The total
amount invested to date in the Company by Mr Berry is GBP238k. This
brings Paul Ratcliff's interest in the Company's current issued
share capital to 162,734 Ordinary Shares, being approximately 0.13
% of the current issued share capital.
Harry Berry commented: "When I moved from Non-Executive Director
into an Executive role as COO in July, we recognised the importance
of converting the order book into successful customer deployment
projects and this has been my primary focus. The order book has now
grown very substantially since then and shareholders should take
comfort that this will provide CyanConnode with significant revenue
growth over the coming years together with a corresponding creation
of shareholder value."
Paul Ratcliff commented: "The Board, including the Non-Executive
Directors, have seen the recent fall in the share price and as per
the RNS statement released yesterday, we are not aware of any
corporate developments that justify such a movement. I've seen the
hard work and determination of the management team and wanted to
show my support by buying shares in the market today to demonstrate
my confidence that we will be successful in creating significant
shareholder value over time."
Additionally, David Bland (Finance Director, non-Board) has
purchased GBP5k of shares in the market. David joined CyanConnode
as FD in August and this is his first share purchase. Heather
Peacock (Company Secretary, non-Board) has also purchased GBP5k of
shares in the market taking the total amount invested by Heather to
date to GBP65k.
Furthermore, pursuant to the CyanConnode Matching Share Plan
(the "Plan"), details of which were set out most recently in the
Company's RNS dated 27 June 2017, and following the above
purchases, the Company will now grant options over 71,423 Ordinary
Shares to Harry Berry and 71,633 options to Paul Ratcliff. Under
the terms of this Plan the options would have been granted at the
same price at which the shares were purchased, however both Mr
Berry and Mr Ratcliff have agreed to having these options issued at
a price twice that of the purchase price of the shares. The
exercise price will therefore be 42.0 pence per Ordinary Share. The
higher strike price means that the options will have no value
whatsoever until the share price doubles and will only have
significant value if the share price increases by a large multiple
from that today. Additionally both Mr Bland and Ms Peacock will be
issued matching share options at a price twice that of the purchase
price of the shares they bought.
Following this grant, Harry Berry will hold options over 806,597
Ordinary Shares, of which 201,423 options have been issued under
the Plan. In addition, he holds interests over 3,001,388 Ordinary
Shares under the Company's Joint Share Ownership Plan. Following
this grant, Paul Ratcliff will hold options over 71,633 Ordinary
Shares, all of which are options issued under the Plan.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225
060
John Cronin, Executive www.cyanconnode.com
Chairman
FinnCap Limited (Nomad Tel: +44 (0) 20 7220
and Broker) 0500
Adrian Hargrave/Giles Rolls
(Corporate Finance)
Alice Lane (Corporate Broking)
Walbrook PR (Investor Relations) Tel: +44(0) 20 7933 8780
Paul Cornelius / Nick Rome cyanconnode@walbrookpr.com
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 Harry Berry
--- ------------------------------- ---------------------------------------------------
2. Reason for the Notification
--- ------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
--- ------------------------------- ---------------------------------------------------
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 n/a
--- ------------------------------- ---------------------------------------------------
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 Ordinary shares
the Financial of 2.0p
instrument, type And options over
of instrument ordinary shares
of 2.0p
---
Identification GB00B0P66Q02
code
--- ------------------------------- ---------------------------------------------------
b) Nature of the Purchase of ordinary shares
transaction Grant of share options
--- ------------------------------- ---------------------------------------------------
c) Price(s) and
volume(s) Purchase of Ordinary Shares Price(s) Volume(s)
--------- ----------
21.0p 71,423
--------- ----------
Grant of options Exercise Price(s) Volume(s)
------------------ ----------
42.0p 71,423
------------------ ----------
--- ------------------------------- ---------------------------------------------------
d) Aggregated information:
* Aggregated volume See above
* Price
--- ------------------------------- ---------------------------------------------------
e) Date of the transaction 11 December 2017
--- ------------------------------- ---------------------------------------------------
f) Place of the London Stock Exchange, AIM
transaction Market (XLON)
--- ------------------------------- ---------------------------------------------------
5. Details of the person discharging managerial
responsibilities / person closely associated
--- ------------------------------------------------------------------------------------
a) Name Paul Ratcliff
--- ------------------------------- ---------------------------------------------------
6. Reason for the Notification
--- ------------------------------------------------------------------------------------
a) Position/status Non-Executive Director
--- ------------------------------- ---------------------------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- ---------------------------------------------------
7. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ------------------------------------------------------------------------------------
a) Name CyanConnode Holdings plc
--- ------------------------------- ---------------------------------------------------
b) LEI n/a
--- ------------------------------- ---------------------------------------------------
8. 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 Ordinary shares
the Financial of 2.0p
instrument, type
of instrument And options over
ordinary shares
of 2.0p
---
Identification GB00B0P66Q02
code
--- ------------------------------- ---------------------------------------------------
b) Nature of the Purchase of ordinary shares
transaction Grant of share options
--- ------------------------------- ---------------------------------------------------
c) Price(s) and
volume(s) Purchase of Ordinary Shares Price(s) Volume(s)
--------- ----------
20.94p 71,633
--------- ----------
Grant of Options Price(s) Volume(s)
--------- ----------
42.0p 71,633
--------- ----------
--- ------------------------------- ---------------------------------------------------
d) Aggregated information:
* Aggregated volume See above
* Price
--- ------------------------------- ---------------------------------------------------
e) Date of the transaction 11 December 2017
--- ------------------------------- ---------------------------------------------------
f) Place of the London Stock Exchange, AIM
transaction Market (XLON)
--- ------------------------------- ---------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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