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Director/PDMR Shareholding

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By LSE RNS

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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