CyanConnode Holdings PLC Director/PDMR Shareholding (1498Z)
December 13 2017 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 1498Z
CyanConnode Holdings PLC
13 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 John Cronin, Executive Chairman, has
purchased 65,514 ordinary shares of 2.0p in the Company ("Ordinary
Shares"), at a price of 22.875 pence per share and Simon Smith
(Non-Executive Director) has purchased 65,245 Ordinary Shares at a
price of 22.99 pence per share.
This brings John Cronin's interest in the Company's current
issued share capital to 2,213,467 Ordinary Shares, being
approximately 1.73% of the current issued share capital. The total
amount invested to date in the Company by Mr Cronin is GBP856k.
This brings Simon Smith's interest in the Company's current issued
share capital to 1,185,080 Ordinary Shares, being approximately
0.93% of the current issued share capital. The total invested to
date in the Company by Mr Smith is GBP540k.
John Cronin commented: "The CyanConnode order book has grown
very significantly this year to $100 million through new contract
wins in multiple territories. With several of these contracts now
in, or about to enter, the delivery phase, we are in the strongest
position in the Company's history. I am pleased to further invest
again to add to the substantial share purchases I have made since
my appointment."
Simon Smith commented: "Having completed a GBP8.6M fund raise
only three months ago and with customer payments on existing
contracts now starting to flow, I was surprised to see the share
price fall last week. I decided to again demonstrate my support to
the Company, and our commitment to deliver a strong result for all
shareholders, by purchasing more CyanConnode shares in the
market."
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 65,245 Ordinary
Shares to Simon Smith. Under the terms of this Plan the options
would have been granted at the same price at which the shares were
purchased, however Mr Smith has agreed to having these options
issued at a price twice that of the purchase price of the shares.
The exercise price will therefore be 46.0 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. Mr Cronin will not receive any options under the
Plan as the Plan has an annual limit of GBP50,000 and Mr Cronin
reached this limit when he purchased GBP50,000 of shares in the
market in June 2017.
Following this grant, Simon Smith will hold options over 661,549
Ordinary Shares, of which 264,187 options have been issued under
the Plan. In addition, he holds interests over 969,795 Ordinary
Shares under the Company's Joint Share Ownership 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 John Cronin
--- ------------------------------- ---------------------------------------------------
2. Reason for the Notification
--- ------------------------------------------------------------------------------------
a) Position/status Executive Chairman
--- ------------------------------- ---------------------------------------------------
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
the Financial of 2.0p
instrument, type
of instrument
---
Identification GB00B0P66Q02
code
--- ------------------------------- ---------------------------------------------------
b) Nature of the Purchase of ordinary shares
transaction
--- ------------------------------- ---------------------------------------------------
c) Price(s) and
volume(s) Purchase of Ordinary Shares Price(s) Volume(s)
--------- ----------
22.90p 65,514
--------- ----------
--- ------------------------------- ---------------------------------------------------
d) Aggregated information:
* Aggregated volume See above
* Price
--- ------------------------------- ---------------------------------------------------
e) Date of the transaction 12 December 2017
--- ------------------------------- ---------------------------------------------------
f) Place of the London Stock Exchange, AIM
transaction Market (XLON)
--- ------------------------------- ---------------------------------------------------
1. Details of the person discharging managerial
responsibilities / person closely associated
--- ------------------------------------------------------------------------------------
a) Name Simon Smith
--- ------------------------------- ---------------------------------------------------
2. Reason for the Notification
--- ------------------------------------------------------------------------------------
a) Position/status 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
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)
--------- ----------
22.99p 65,245
--------- ----------
Grant of Options Exercise Price(s) Volume(s)
------------------ ----------
46.0p 65,245
------------------ ----------
--- ------------------------------- ---------------------------------------------------
d) Aggregated information:
* Aggregated volume See above
* Price
--- ------------------------------- ---------------------------------------------------
e) Date of the transaction 12 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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