Business
Completion of Fundraise
Completion of Fundraise.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9096Q CyanConnode Holdings PLC 15 September 2017 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN CYANCONNODE HOLDINGS PLC OR ANY OTHER ENTITY IN ANY JURISDICTION.\nCyanConnode Holdings plc\n(\"CyanConnode\", the \"Company\" or together with its subsidiaries the \"Group\")\nResult of Placing and Subscription to raise £8.6 million \nNotice of General Meeting\nResult of Fundraising\nCyanConnode (AIM:CYAN.L), the world leader in narrowband radio mesh networks, is pleased to announce that, following the announcement made earlier today, the Company has raised a total of approximately £8.6 million (before expenses) by way of the conditional Placing of 16,995,349 Consolidated Shares and the Subscription for 13,857,139 Consolidated Shares, at a price of 28 pence per share (the \"Issue Price\").\nDirectors' Participation and Related Party Transaction\n \nCertain Directors have subscribed for Consolidated Shares at the Issue Price as per the table below (the \"Directors' Participation\"): \n\n\n\n\nDirector\n\n\nAs at the date of this document\n\n\nImmediately following Placing Admission\n\n\n\n\n\n\n\nFundraising Shares Acquired\n\n\nNumber of Consolidated Shares\n\n\nPercentage of Enlarged Share Capital\n\n\n\n\nPeter Hutton\n\n\n35,714\n\n\n167,258\n\n\n0.14%\n\n\n\n\nPaul Ratcliff\n\n\n17,857\n\n\n91,100\n\n\n0.08%\n\n\n\n\n \n \nThe subscription by the Directors constitute related party transactions for the purposes of AIM Rule 13.\n \nSimon Smith, John Cronin and Harry Berry are considered to be independent directors for purposes of AIM Rule 13 (\"Independent Directors\"). As such, the Independent Directors, having consulted with the Company's nominated adviser, consider the Directors' Participation to be fair an...