TIDMCYAN

RNS Number : 0494U

CyanConnode Holdings PLC

20 November 2023

The following corrects the Director Option Grants announcement released on 17 November 2023 at 15:45 under RNS No. 8802T, in which the number of options granted and resultant option holding for Heather Peacock, and total options granted to John Cronin, were incorrectly stated. The full amended text is set out below.

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Issue of Share Options - Correction

CyanConnode (AIM:CYAN.L), the world leader in narrowband radio mesh networks, announces that, on 17 November 2023, it awarded options to acquire ordinary shares of 2 pence per share in the Company ("Options") to John Cronin, Executive Chairman and to Heather Peacock, Chief Financial Officer, as follows:

 
 Director               No of   Exercise   Vesting 
                      options     price 
                                   (p) 
                                           one third at grant and one third 
                                            on each of 31 March 2024 and 31 
 John Cronin          600,000    15.75      March 2025 
                                           one third at grant and one third 
                                            on each of 31 March 2024 and 31 
                      506,082    14.00      March 2025 
                                           one third on each of 31 January 
                                            2024, 31 January 2025 and 31 January 
                      442,857    17.00      2026 
                    1,548,939 
 
                                           one third at grant and one third 
                                            on each of 31 March 2024 and 31 
 Heather Peacock      300,000    15.75      March 2025 
                                           one third at grant and one third 
                                            on each of 31 March 2024 and 31 
                      204,065    14.00      March 2025 
                                           one third on each of 31 January 
                                            2024, 31 January 2025 and 31 January 
                      178,577    17.00      2026 
                      682,642

These are the first share options awarded to the directors in over two years. This brings the total options held by John Cronin to 3,256,420 being 1.09% of issued share capital and options held by Heather Peacock to 2,216,850 being 0.74% of issued share capital. The above options have been awarded as part of the Company's Unapproved Share Option Scheme. It is anticipated that the options granted today will be converted into shares to be held in the Company's Joint Share ownership Plan ("JSOP") as soon as appropriate, with the same vesting prices and dates as set out above.

In addition to the above share options John Cronin and Heather Peacock currently hold the following shares in the Company's JSOP.

 
                                                 Participation Price GBP  Shares in JSOP  % of share capital 
 
  Director          Grant Date     Expiry Date 
John Cronin         10/11/21        10/11/26                       0.145       5,672,359 
----------------  -------------  --------------  -----------------------  --------------  ------------------ 
                                                                               5,672,359               1.90% 
  ---------------------------------------------  -----------------------  --------------  ------------------ 
Heather Peacock     10/11/21        10/11/26                       0.145       1,331,498 
----------------  -------------  --------------  -----------------------  --------------  ------------------ 
                                                                               1,331,498               0.45% 
  ---------------------------------------------  -----------------------  --------------  ------------------

Enquiries:

 
 CyanConnode Holdings plc                 www.cyanconnode.com 
 John Cronin, Executive Chairman          Tel: +44 (0) 1223 865 750 
 Strand Hanson Limited (Nominated and 
  Financial Adviser) 
 James Harris / Richard Johnson / David   Tel: +44 (0) 20 7409 3494 
  Asquith 
                                           Tel:+44 (0)20 3829 5000 
  Zeus Capital Limited (Sole Bookrunner 
  and Broker) 
  Simon Johnson / Louisa Waddell

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END

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November 20, 2023 13:14 ET (18:14 GMT)

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