TIDMCYAN
RNS Number : 7085A
CyanConnode Holdings PLC
03 June 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN,
THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO
SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF
SUCH JURISDICTION .
This Announcement does not constitute a prospectus or offering
memorandum or an offer in respect of any securities and is not
intended to provide the basis for any investment decision in
respect of CyanConnode Holdings plc or other evaluation of any
securities of CyanConnode Holdings plc or any other entity and
should not be considered as a recommendation that any investor
should subscribe for or purchase any such securities .
This Announcement contains inside information for the purposes
of the UK version of the market abuse regulation (EU No . 596/2014)
as it forms part of United Kingdom domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR"). In addition,
market soundings (as defined in UK MAR) were taken in respect of
certain of the matters contained in this Announcement, with the
result that certain persons became aware of such inside
information, as permitted by UK MAR. Upon the publication of this
Announcement, this inside information is now considered to be in
the public domain and such persons shall therefore cease to be in
possession of inside information .
3 June 2021
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Result of heavily oversubscribed Placing and Subscription
CyanConnode (AIM:CYAN.L), a world leader in narrowband radio
frequency (RF) smart mesh networks, is pleased to announce that,
further to its announcement at 7.00 a.m. today, it has successfully
completed a heavily oversubscribed placing of new Ordinary Shares,
at a premium to last night's closing market price, by way of an
accelerated bookbuild, which is now closed (the "Placing"), and a
subscription of new Ordinary Shares (the "Subscription").
The Placing and Subscription raised, in aggregate, GBP3.15
million (before expenses) through the placing of 27,196,395 new
Ordinary Shares (the "Placing Shares") and a Subscription for
5,973,681 new Ordinary Shares (the "Subscription Shares") at an
Issue Price of 9.5 pence per new Ordinary Share. The Issue Price
represents a premium of approximately 2.2 per cent. to the closing
market price of 9.3 pence per existing Ordinary Share on 2 June
2021, being the last business day prior to the announcement of the
Placing and the Subscription.
Directors' Dealings
Pursuant to the Subscription, John Cronin, Heather Peacock and
David Johns-Powell, being certain of the Company's Directors, have
subscribed for new Ordinary Shares as follows:
Director R ole No. of % of Number of S No. of % of Enlarged
existing Existing ubscription Ordinary Share Capital
Ordinary Ordinary Shares subscribed Shares immediately
Shares Share for t o be following
Capital held immediately Admission
following
Admission
Executive
John Cronin Chairman 5,241,200 2.81% 105,264 5,346,464 2.43%
--------------- ----------- ---------- ------------------ ------------------ ---------------
CFO and
Heather Company
Peacock Secretary 683,771 0.37% 52,631 736,402 0.33%
--------------- ----------- ---------- ------------------ ------------------ ---------------
Non-Executive
David Johns-Powell Director 19,083,490 10.22% 210,526 19,294,016 8.77%
--------------- ----------- ---------- ------------------ ------------------ ---------------
John Cronin and Heather Peacock, as Directors of the Company,
and David Johns-Powell as a Director of the Company and a
Substantial Shareholder are accordingly classified as related
parties under the AIM Rules for Companies and their participation
in the Subscription therefore constitutes a related party
transaction pursuant to Rule 13 of the AIM Rules for Companies.
Accordingly, Chris Jones and Peter Tyler, being the independent
directors, consider, having consulted with Arden Partners plc, the
Company's Nominated Adviser, that the terms of the Director's
participation in the Subscription are fair and reasonable insofar
as Shareholders are concerned.
Admission to trading on AIM
Application will be made to the London Stock Exchange for the
admission of the Placing Shares and Subscription Shares to trading
on AIM ("Admission"). It is expected that Admission will become
effective and dealings in the Placing Shares and Subscription
Shares commence at 8.00 a.m. on or around 8 June 2021.
Total voting rights
Following the issue of the Placing Shares and Subscription
Shares the Company will have 219,983,799 Ordinary Shares in issue.
The Company has no Ordinary Shares in treasury.
Capitalised terms used but not otherwise defined in this
announcement shall have the same meanings ascribed to such terms in
the Company's announcement released earlier today unless the
context requires otherwise.
John Cronin, Executive Chairman, CyanConnode, commented:
I am delighted that as a result of high investor demand we have
placed 33,170,076 shares with both existing and new shareholders.
We are thankful for the strong support shown and it is particularly
pleasing to welcome new shareholders to the register at this
exciting time for CyanConnode.
The Board remains confident and focused in the future growth
prospects of the Company and looks forward to providing further
updates in due course. As a result of the Placing we have broadened
our investor base and are committed to delivering great value to
all shareholders.
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225 060
John Cronin, Executive Chairman www.CyanConnode.com
Arden Partners plc (Nomad and Broker) Tel: +44 (0) 20 7614
5900
Paul Shackleton / Akhil Shah (Corporate Finance)
Simon Johnson (Corporate Broking)
IMPORTANT INFORMATION
This Announcement has been issued by, and is the sole
responsibility of, the Company. No representation or warranty
express or implied, is or will be made as to, or in relation to,
and no responsibility or liability is or will be accepted by Arden
Partners or by any of its affiliates as to or in relation to, the
accuracy or completeness of this Announcement or any other written
or oral information made available to or publicly available to any
interested party or its advisers, and any liability therefore is
expressly disclaimed.
This Announcement does not constitute, or form part of, a
prospectus relating to the Company, nor does it constitute or
contain any invitation or offer to any person, or any public offer,
to subscribe for, purchase or otherwise acquire any shares in the
Company or advise persons to do so in any jurisdiction, nor shall
it, or any part of it (other than the Appendix in relation to
Placees) form the basis of or be relied on in connection with any
contract or as an inducement to enter into any contract or
commitment with the Company. In particular, the new Ordinary Shares
have not been, and will not be, registered under the Securities Act
or qualified for sale under the laws of any state of the United
States or under the applicable laws of any of Canada, Australia,
the Republic of South Africa, or Japan and, subject to certain
exceptions, may not be offered or sold in the United States or to,
or for the account or benefit of, US persons (as such term is
defined in Regulation S under the Securities Act) or to any
national, resident or citizen of Canada, Australia, the Republic of
South Africa or Japan.
The distribution or transmission of this Announcement and the
offering of the new Ordinary Shares in certain jurisdictions may be
restricted or prohibited by law or regulation. Persons distributing
this Announcement must satisfy themselves that it is lawful to do
so. Any failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction. No
action has been taken by the Company or the Broker that would
permit an offering of such shares or possession or distribution of
this Announcement or any other offering or publicity material
relating to such shares in any jurisdiction where action for that
purpose is required. Persons into whose possession this
Announcement comes are required by the Company and the Broker to
inform themselves about, and to observe, such restrictions. In
particular, this Announcement may not be distributed, directly or
indirectly, in or into the United States, Canada, the Republic of
South Africa, Australia or Japan. Overseas Shareholders and any
person (including, without limitation, nominees and trustees), who
have a contractual or other legal obligation to forward this
document to a jurisdiction outside the UK should seek appropriate
advice before taking any action.
This Announcement contains "forward-looking statements" which
includes all statements other than statements of historical fact,
including, without limitation, those regarding the Company's
financial position, business strategy, plans and objectives of
management for future operations, or any statements preceded by,
followed by or that include the words "targets", "believes",
"expects", "aims", "intends", "will", "may", "anticipates",
"would", "could", "indicative", "possible" or similar expressions
or negatives thereof. Such forward-looking statements involve known
and unknown risks, uncertainties and other important factors beyond
the Company's control that could cause the actual results,
performance or achievements of the Group to be materially different
from future results, performance or achievements expressed or
implied by such forward-looking statements. Such forward-looking
statements are based on numerous assumptions regarding the
Company's present and future business strategies and the
environment in which the Company will operate in the future. These
forward-looking statements speak only as at the date of this
Announcement. The Company expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements
are based unless required to do so by applicable law or the AIM
Rules for Companies.
No statement in this Announcement is intended to be a profit
forecast and no statement in this Announcement should be
interpreted to mean that earnings or losses per share of the
Company for the current or future financial years would necessarily
match or exceed the historical published earnings or losses per
share of the Company.
Arden Partners plc, which is authorised and regulated by the FCA
in the United Kingdom, is acting as Nominated Adviser and Broker to
the Company in connection with the Placing. Arden Partners plc will
not be responsible to any person other than the Company for
providing the protections afforded to clients of Arden Partners plc
or for providing advice to any other person in connection with the
Placing or any acquisition of shares in the Company. Arden Partners
plc is not making any representation or warranty, express or
implied, as to the contents of this Announcement. Arden Partners
plc has not authorised the contents of, or any part of, this
Announcement, and no liability whatsoever is accepted by Arden
Partners plc for the accuracy of any information or opinions
contained in this Announcement or for the omission of any material
information.
The new Ordinary Shares will not be admitted to trading on any
stock exchange other than the AIM market of the London Stock
Exchange.
PDMR Notification Form
The notification below is made in accordance with the
requirements of MAR.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name a) J ohn Cronin
b) H eather Peacock
c) David Johns-Powell
-------------------------------- -------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status a) E xecutive Chairman
b) C FO and Company Secretary
c) Non-Executive Director
-------------------------------- -------------------------------------
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 Ordinary shares of 2 pence each
the financial instrument,
type of instrument GB00BF93WP34
Identification
code
-------------------------------- -------------------------------------
b) Nature of the transaction Participation in subscription
-------------------------------- -------------------------------------
c) Price(s) and volume(s) Price - 9 .5 pence
Volumes:
a) 1 05,264
b) 5 2,631
c) 2 10,526
-------------------------------- -------------------------------------
d) Aggregated information See 4c) above
-------------------------------- -------------------------------------
e) Date of the transaction 8 June 2021
-------------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------------- -------------------------------------
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END
ROIEAKKDESLFEEA
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June 03, 2021 02:55 ET (06:55 GMT)
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