Business
Cyan Joins AIM
Cyan Joins AIM.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n Cyan Holdings Plc\n07 December 2005\n\n\nPress Release 7 December 2005\n\n\n\n Cyan Holdings plc\n\n ('Cyan' or 'the Company')\n\n Cyan joins AIM\n\n First day of dealings on AIM\n\n\nCyan Holdings plc, the fabless semiconductor company specialising in the\ndevelopment of low powered, configurable microcontroller chips, today announces\nAdmission and commencement of dealings of its Ordinary shares on AIM. Collins\nStewart is acting as Nominated Adviser and Broker to Cyan. The stock market EPIC\nis CYAN.L\n\n\n\nPlacing Statistics\nPlacing Price 22p\nNumber of Ordinary Shares in issue immediately prior to the Placing 62,458,476\nNumber of Placing Shares being issued* 21,852,273\nEstimated net proceeds of the Placing receivable by the Company** 3.25 million\nNumber of Ordinary Shares in issue following the Placing 84,310,749\nPercentage of the enlarged ordinary issued share capital available in the Placing 26 per cent.\nMarket capitalisation at the Placing Price 18.5 million\nISIN Code GB00B0P66Q02\nEPIC CYAN.L\n\n\n\n* Includes 3,701,990 new Ordinary Shares issued pursuant to the exercise of\nWarrants and placed by the Company on behalf of Warrant holders to satisfy the\nwarrant exercise price.\n\n** Excludes the proceeds of the placing of those Placing Shares placed by the\nCompany on behalf of the Warrant holders to satisfy the warrant exercise price.\n\n\n\nDetails of the Placing\n\nCyan is intending to use the monies raised to support the development and launch\nof new products, the funding of the expanding sales and product support teams,\nand the working capital requirements of the subsequent sales growth. In\naddition the AIM admission will raise the corporate profile of Cyan and as such\nfurther increase customer confidence.\n\n\n\nPaul Johnson, Chief Executive Officer of Cyan, commented: 'We are delighted to\nsee the successful start of dealings in Cyan shares on AIM. The listing\nprovides us with a firm launching pad to take the Company on to its next stage.\nHaving achieved a number of design wins for the first product, AIM should\nprovide Cyan with the opportunity to expand its product range and exploit the\nhigh-growth semiconductor market in which it operates. We believe the\ncombination of our ultra low power flexible microcontrollers and our software\ndevelopment toolkit sets Cyan apart.\n\n\n\n'Cyan has pionee...