CyanConnode Holdings PLC Director/PDMR Shareholding (1234D)
January 29 2018 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 1234D
CyanConnode Holdings PLC
29 January 2018
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 200,000 ordinary shares of 2.0p in the Company ("Ordinary
Shares"), at a price of 14.8 pence per share.
This brings John Cronin's interest in the Company's current
issued share capital to 2,413,467 Ordinary Shares, being
approximately 1.89% of the current issued share capital. The total
amount invested to date in the Company by Mr Cronin is GBP886k.
John Cronin commented: "Over recent weeks we've seen the share
price decline and believe this has been largely down to the sale of
shares by CapMan following the end of the lock-in period imposed on
these shares which was agreed as part of the purchase of Connode in
July 2016. CapMan had always advised it was their intention to sell
their shares due to their funds being in the wind-down phase for
final distribution to their investors and now this sale is
complete, with all the shares successfully placed with CyanConnode
shareholders. I decided to purchase further shares in the market to
further demonstrate my commitment to the Company and its
shareholders."
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 200,000 Ordinary
Shares to John Cronin. Under the terms of this Plan the options
would have been granted at the same price at which the shares were
purchased, however Mr Cronin 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 29.6 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.
Following this grant, John Cronin will hold options over 758,101
Ordinary Shares. In addition, he holds interests over 4,601,625
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 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)
--------- ----------
14.80p 200,000
--------- ----------
Grant of Options Exercise Price(s) Volume(s)
------------------ ----------
29.6p 200,000
------------------ ----------
--- ------------------------------- ---------------------------------------------------
d) Aggregated information:
* Aggregated volume See above
* Price
--- ------------------------------- ---------------------------------------------------
e) Date of the transaction 25 January 2018
--- ------------------------------- ---------------------------------------------------
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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