Cyan : Director Shareholding and Issue of Options

Director Shareholding and Issue of Options

25 July 2014

Cyan Holdings plc (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, is pleased to announce that Harry Berry, Non-Executive Director, has today purchased a total of 5,000,000 0.01p ordinary shares in the Company ("Ordinary Shares") at a price of 0.38 pence per share.

This brings Harry Berry's interest in the Company's current issued share capital to 5,000,000 Ordinary Shares, being approximately 0.14% of the current issued share capital.

Furthermore, Cyan has put in place the Cyan Non-Executive Share Plan, which is detailed below, and following the above purchase today, the Company will now grant options over 5,000,000 Ordinary Shares with an exercise price of 0.38 pence per Ordinary Share to Harry Berry pursuant to the Cyan Non-Executive Share Plan. Following this grant, Harry Berry will hold options over 5,000,000 Ordinary Shares.

Cyan Non-Executive Share Plan

The Board has adopted a share subscription and option plan in order to retain and attract Non-Executive Directors.

Existing and future Non-Executive Directors will be offered the opportunity to purchase up to a maximum of £200,000 for ordinary shares in the Company at the then current market value and receive an associated grant of options over an equal number of ordinary shares  at the same market value.

The key terms of the subscription and options are as follows:

• The Non-Executive would decide the number of ordinary shares that he or she wishes to purchase (up to the maximum subscription of £200,000) at the then market price.
• The Company will grant the Non-Executive options to subscribe for an equal number of ordinary shares exercisable at the same market price per share.
• The options will ordinarily be exercisable only after the fourth anniversary of the date of grant.
• The options must be exercised in any event prior to the tenth anniversary of the date of grant.
• The options may be exercised in full prior to the fourth anniversary of the date of grant in the event of a successful takeover of the Company.

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