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CyanConnode Holdings - Director Share Purchases

RNS Number : 3943Y
CyanConnode Holdings PLC
09 September 2020
 

                                                                                                                                                               9 September 2020

 

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

Director Share Purchases

 

CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, announces that Executive Chairman, John Cronin, has purchased ordinary shares of 2.0p in the Company ("Ordinary Shares"), as follows.

 

 

Director

Shares purchased

Price paid per share (p)

Amount invested (£)

Previous shareholding

New shareholding

% in Company

Total  investment in Company (£)

 

John Cronin

360,342

5.55

20,000

3,413,467

3,773,809

2.06%

1,005,829

 

 

Furthermore, pursuant to the CyanConnode Matching Share Plan (the "Plan"), the Company will now grant 360,342 options over Ordinary Shares to Mr Cronin. Under the terms of this Plan the options would have been granted at the same price at which the shares were purchased, however as with other directors who purchased shares on 7 September 2020, Mr Cronin has agreed to having these options issued with an exercise price of 10.0 pence per Ordinary Share. The higher strike price means that the options will have no value whatsoever until the share price increases significantly and will only have any value if the share price increases above 10p.

 

Following this grant, Mr Cronin will hold options over 1,118,443 Ordinary Shares. In addition, he holds interests over 4,601,625 Ordinary Shares under the Company's Joint Share Ownership Plan. In total, 914,678 options have been issued to Mr Cronin under the Plan.

 

John Cronin, Executive Chairman, CyanConnode, commented: "Together with my latest investment, the Board has invested over £5.5 million in CyanConnode, which demonstrates our commitment and confidence in the business going forward. I look forward to giving further updates to the market as appropriate."

 

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 Chairman

 

www.cyanconnode.com

Arden Partners plc (Nomad and Broker)

Paul Shackleton/Dan Gee-Summons (Corporate Finance)

Simon Johnson (Corporate Broking)

Tel: +44 (0) 20 7614 5900

 

 

Yellow Jersey PR (Financial PR)

 

Tel: +44(0) 20 3004 9512

Sarah Hollins / Annabel Atkins

[email protected]

 

 

 

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 the Financial instrument, type of instrument

 

Ordinary shares of 2.0p

 

And options over ordinary shares of 2.0p

 

 

Identification code

GB00B0P66Q02

b)

Nature of the transaction

 

Purchase of ordinary shares

Grant of share options

 

c)

Price(s) and volume(s)

 

Purchase of Ordinary Shares

Price(s)

Volume(s)

5.55

360,342

 

Grant of Options

Exercise Price(s)

Volume(s)

10p

360,342

 

d)

Aggregated information:

·    Aggregated volume

·    Price

 

See above

e)

Date of the transaction

7 September 2020

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

 

 

 

 

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Quick facts: CyanConnode Holdings PLC

Price: -

Market: AIM
Market Cap: -
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