CYANCONNODE HOLDINGS PLC — Remuneration Information 2017

Nov 17, 2017

National Storage Mechanism | Additional information

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RNS Number : 8824W

CyanConnode Holdings PLC

17 November 2017

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Director / PDMR Shareholdings

CyanConnode (AIM:CYAN.L), the world leader in narrowband radio mesh networks, announces the cancellation and issue of replacement options to certain directors and employees following a review of executive and employee incentives conducted by the board and the Company's Remuneration Committee.

All EMI share options held by John Cronin, Harry Berry and Simon Smith were cancelled on 17 November 2017 (the "Cancelled Options") and replaced with the same number of new share options, as detailed below, on the same date (the "New Options"). The New Options are being issued with a 20% hurdle to the September 2017 placing price. The Remuneration Committee has taken these steps in order to retain key people and to incentivise individuals across the group (directors and employees) to drive increased shareholder value.

Cancelled Options

Name	Position	Current number of Options held	Exercise Price of current Options (in pence per share)	Per cent. of issued share capital
John Cronin	Executive Chairman	382,804 175,297	60.0 84.0
		558,101		0.44%
Simon Smith	NED	210,032 130,746 255,526	60.0 84.0 50.0
		596,304		0.47%
Harry Berry	Chief Operating Officer	372,944 142,566 70,000 149,664	50.0 43.4 28.0 37.2
		735,174		0.58%

New Options

Name	Position	Current number of Options held	Exercise Price of current Options (in pence per share)	Per cent. of issued share capital
John Cronin	Executive Chairman	558,101	33.6
		558,101		0.44%
Simon Smith	NED	596,304	33.6
		596,304		0.47%
Harry Berry	COO	735,174	33.6
		735,174		0.58%

The New Options shall vest as follows:-

1,415,270 shall vest on 2 October 2018

306,900 shall vest on 2 October 2019

197,083 shall vest on 2 October 2020

All EMI Options will lapse if unexercised after 10 years from the date of grant. 

Following the above transaction the John Cronin, Harry Berry and Simon Smith interests' in ordinary shares in the Company remains unchanged.

Enquiries:

CyanConnode Holdings plc	www.cyanconnode.com
John Cronin, Executive Chairman	Tel: +44 (0) 1223 225 060
finnCap Ltd (NOMAD and Broker)
Adrian Hargrave / Giles Rolls (Corporate Finance) Alice Lane (Corporate Broking)	Tel: +44 (0) 20 7220 0500
Walbrook PR (Investor Relations)	cyanconnode@walbrookpr.com
Paul Cornelius / Nick Rome	Tel: +44(0) 20 7933 8780

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

PDMR

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 2p

Identification code

GB00B0P66Q02

b)

Nature of the transaction

Cancellation of Options &

Grant of Options

c)

Price(s) and volume(s)

Cancellation of Options
Exercise price(s) (pence)	Volume(s)
60.00                84.00                50.00	210,032 130,746 255,526

Grant of Options
Exercise price(s) (pence)	Volume(s)
33.6	596,304

d)

Aggregated information:

·     Aggregated volume

·     Price

As above

e)

Date of the transaction

17 November 2017

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

1.   

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

John Cronin

2.               

Reason for the Notification

a)

Position/status

PDMR

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 2p

Identification code

GB00B0P66Q02

b)

Nature of the transaction

Cancellation of Options &

Grant of Options

c)

Price(s) and volume(s)

Cancellation of Options
Exercise price(s) (pence)	Volume(s)
60.00                84.00	382,804 175,297

Grant of Options
Exercise price(s) (pence)	Volume(s)
33.6	558,101

d)

Aggregated information:

·     Aggregated volume

·     Price

As above

e)

Date of the transaction

17 November 2017

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

1.   

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Harry Berry

2.               

Reason for the Notification

a)

Position/status

PDMR

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 2p

Identification code

GB00B0P66Q02

b)

Nature of the transaction

Cancellation of Options &

Grant of Options

c)

Price(s) and volume(s)

Cancellation of Options
Exercise price(s) (pence)	Volume(s)
50.00 43.40 28.00 37.20	372,944 142,566 70,000 149,664

Grant of Options
Exercise price(s) (pence)	Volume(s)
33.6	735,174

d)

Aggregated information:

·     Aggregated volume

·     Price

As above

e)

Date of the transaction

17 November 2017

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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