REG - CyanConnode Holdings - Share Subscription

Cyanconnode HoldingsAnnouncement

18/10/2022 07:00

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RNS Number : 1768D  CyanConnode Holdings PLC  18 October 2022

18 October 2022

 

CyanConnode Holdings plc

("CyanConnode" or "the Company")

 

Share Subscription

 

CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio
Frequency (RF) Smart Mesh Networks, is pleased to announce that £500,000 has
been raised by a share subscription for 4,081,632 ordinary shares of 2p each
("Subscription Shares") at a price of 12.25 pence per share (the "Issue
Price") (the "Subscription"), being the closing mid-market share price on 17
October 2022, the latest dealing day prior to announcement of the
Subscription, with no discount.

 

Highlights

 

·   Issue of 4,081,632 Subscription Shares subscribed by an existing
shareholder to raise proceeds of £500,000 before expenses

·   The Issue Price represents the closing mid-market price of 12.25 pence
on 17 October 2022, being the latest dealing day prior to the announcement of
the Subscription

·     The net proceeds of the Subscription will be used for working
capital purposes

·     The Subscription is not underwritten.

·     The Subscription is conditional only upon admission of the
Subscription Shares to trading on AIM

 

The Subscription has been undertaken pursuant to the general authorities
granted to the board of directors at the annual general meeting of the Company
held on 21 September 2022 and therefore no further shareholder approval is
required.

 

Following the admission of the new Ordinary Shares, the Company's total issued
share capital will be 240,652,071 ordinary shares of 2 pence each.  This
figure of 240,652,071 may be used by shareholders as the denominator by which
they will determine if they are required to notify their interest in, or a
change to their interest in, the Company under the Disclosure and Transparency
Rules.

 

Application will be made for the admission of the Subscription Shares to
trading on AIM and it is expected that the Subscription Shares will be
admitted to trading on AIM at 8.00 a.m. on 21 October 2022. The Subscription
Shares will rank pari passu in all respects with the Company's existing
ordinary shares of 2 pence each.

 

John Cronin, Executive Chairman of CyanConnode, commented:

"I was delighted to be approached by an existing shareholder who wanted to
make a further investment into CyanConnode.  Considering these uncertain
times, your Board felt it prudent to accept the offer, the proceeds of which
will be used to bolster working capital."

 

 

Enquiries:

 

 

 CyanConnode Holdings plc                  Tel: +44 (0) 1223 865 750
 John Cronin, Executive Chairman

 Cenkos Securities plc (Nomad and Broker)  Tel: +44 (0) 20 7397 8900

 Stephen Keys / Charlie Combe

 Arden Partners plc (Joint Broker)

 Simon Johnson (Corporate Broking)         Tel: +44 (0) 20 7614 5900

About CyanConnode

CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio Frequency (RF)
Smart Mesh Networks, which are used for machine to machine (M2M)
communication.  As well as being self-forming and self-healing, CyanConnode's
RF Smart Mesh Networks are designed for rapid deployment, whilst giving
exceptional performance and competitive total cost of ownership.

 

In June 2018, CyanConnode launched its award-winning Omnimesh Advanced
Metering Infrastructure (AMI) platform, which has already gained considerable
commercial traction, especially in India which is a key market for the
Company.

 

Through a Global partner eco-system, which is vendor agnostic, CyanConnode has
several routes to market, therefore it is well positioned to capitalise upon
increasing Global demand for smart metering solutions.

 

For more information, please visit www.cyanconnode.com
(http://www.cyanconnode.com)

 

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