Cyan : Issue of options

Issue of options

19 December 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, announces that it has granted Unapproved Options over a total of 22,320,884 new ordinary shares to Harry Berry, Non-Executive Director, at an exercise price of 0.305 pence per share, being the closing market price on 18 December 2014.

These Unapproved Options are being issued in lieu of payment for work to be performed by Harry Berry outside of his duties as a Non-Executive Director, including assistance with business development, strategic partnerships, financing and M&A, over a four year period commencing in December 2014.

The Options are exercisable as to 6.25 per cent. of the issued amount per quarter from 9 March 2015 over a four year period. The Options will lapse if unexercised after 10 years from the date of grant. Any unvested Options will also lapse should the work being done by Mr Berry cease during the four year period.

The Unapproved Options represent a total of 0.5 per cent. of the current issued share capital of the Company of 4,464,176,890 ordinary shares of 0.01p each (the "current issued share capital").

Harry Berry currently holds 17,714,286 shares in the company, being 0.40 per cent. of the current issued share capital and 12,000,000 Unapproved Options in the Cyan Non-Executive Share Plan. This issue of Unapproved Options will bring his total options in issue to 34,320,884, being 0.77 per cent. of the current issued share capital.

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