CYANCONNODE HOLDINGS PLC — Remuneration Information 2017

Jun 27, 2017

National Storage Mechanism | Additional information

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RNS Number : 2036J

CyanConnode Holdings PLC

27 June 2017

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Director Shareholding and Issue of Options

CyanConnode (AIM:CYAN.L), the world leader in narrowband radio mesh networks, announces that Simon Smith, Chief Financial Officer, has purchased 13,333,333 ordinary shares of 0.01p in the Company ("Ordinary Shares"), at a price of 0.15 pence per share.

This brings Simon Smith's interest in the Company's current issued share capital to 223,967,014 Ordinary Shares, being approximately 1.25 % of the current issued share capital. The total amount invested to date in the Company by Mr Smith has increased from £0.5 million to £0.52 million.

This purchase is following the share purchases last week by John Cronin of £50,000 and Harry Berry of £20,000 and the investment made by all Directors and certain senior managers in the Company over the past 12 months whereby Directors have used 100% of their remuneration to purchase shares in the Company at the July 2016 placing price of 0.18 pence per share. The amount invested by Directors and certain senior managers under this arrangement was £0.7 million, and was in addition to £0.3 million invested by Directors and senior managers in the Placing in July 2016, bringing the amount already invested in CyanConnode shares by the Directors and relevant senior managers over the last twelve months to £1 million.

Simon Smith commented: "As CFO, I would also like to echo the comments that John Cronin and Harry Berry made in the announcements of their £50,000 and £20,000 respective share purchases at the end of last week. Following the $9.3 million contract award extension received for the customer in Bangladesh on June 15th, CyanConnode has won customer orders valued at £19 million, which is on top of the expected £25M revenue from the rollout of the UK smart metering program. Considering the 2016 reported revenue was £1.8 million, these orders provides significant revenue backlog for future periods. We are now becoming a well-established business, with highly competitive solutions which industry leading customers like Tata Power are buying and then re-ordering on a repeat basis. I also viewed the recent share price weakness as an opportunity and have therefore demonstrated my continued commitment and support through this additional share purchase."

Furthermore, pursuant to the CyanConnode Matching Share Plan and following the above purchase, the Company will now grant options over 13,333,333 Ordinary Shares with an exercise price of 0.15 pence per Ordinary Share to Simon Smith. Following this grant, Simon Smith will hold options over 286,764,802 Ordinary Shares.

The announcement on 22 June 2017 stated the incorrect number of options held by John Cronin. The correct figure should be 755,460,781.

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
FinnCap Limited (Nomad and Broker) Adrian Hargrave/Giles Rolls (Corporate Finance) Alice Lane (Corporate Broking)	Tel: +44 (0) 20 7220 0500
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

Simon Smith

2.               

Reason for the Notification

a)

Position/status

Chief Financial 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 the Financial instrument, type of instrument

Ordinary shares of 0.01p

Identification code

GB00B0P66Q02

b)

Nature of the transaction

Purchase of ordinary shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
0.15p	13,333,333

d)

Aggregated information:

·      Aggregated volume

·      Price

Purchase of 13,333,333 ordinary shares of 0.01p pence at 0.15 pence per ordinary share

e)

Date of the transaction

26 June 2017

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

This information is provided by RNS

The company news service from the London Stock Exchange

END

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