CyanConnode Holdings (LON:CYAN), a world leader in narrowband radio frequency (“RF“) mesh networks, has announced that, further to its announcement on 9 September 2024, it has successfully completed a Placing of 20,204,063 new Ordinary Shares by way of an accelerated bookbuild, which is now closed, and a Subscription of 39,611,109 New Ordinary Shares. Certain of the Company’s Directors (as detailed below) participated in the Fundraising. Capitalised terms used but not defined in this Announcement shall have the meanings given to such terms in the Launch Announcement unless indicated otherwise.
The Fundraising, which was oversubscribed, raised, in aggregate, approximately £5.4 million (before expenses), at an Issue Price of 9 pence per new Ordinary Share, reflecting a 17.6 per cent premium to the closing price on 6 September 2024, being the last business day prior to the Launch Announcement.
Related Party Transactions and Directors’ Dealings
Pursuant to the Fundraising and further to the Launch Announcement, John Cronin and David Johns-Powell (via the Subscription) and Heather Peacock (via the Placing), each being a Director of the Company, have subscribed for New Ordinary Shares for a total amount of £295,000 as follows:
| Director | Role | Number of new Ordinary Shares subscribed for in the Fundraising | No. of Ordinary Shares held post-Admission | % of enlarged share capital |
| John Cronin | Executive Chairman | 555,555 | 7,074,403 | 1.97% |
| Heather Peacock | CFO and Company Secretary | 222,222 | 1,491,468 | 0.42% |
| David Johns-Powell | Non-Executive Director | 2,500,000 | 19,621,561 | 5.47% |
