Business
Result of EGM
Result of EGM.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n RNS Number : 8416S Cyan Holdings Plc 16 September 2010 \n \n\n \nCyan Holdings plc\n(\"Cyan\" or the \"Company\")\n \nResult of General Meeting\n \nThe Board of Cyan is pleased to announce that at the Company's General Meeting held earlier today all of the resolutions were duly passed, including the approval of the placing of 257,333,333 new ordinary shares of 0.2 pence each at 0.75 pence per share to raise approximately £1.8 million after expenses (the \"Placing\").\n \nFull details of the Placing were set out in a circular sent to shareholders on 1 September 2010 (the \"Circular\"). Application has been made for a total of 257,333,333 new ordinary shares issued pursuant to the Placing to be admitted to trading on AIM. Admission and dealing is expected to occur at 8.00 a.m. on 17 September 2010.\n \nIn addition, the Company announces that application has been made for admission to trading on AIM in respect of a block listing of 10,000,000 ordinary shares of 0.2p each (the \"Block Listing Shares\"). As referred to in the Circular, in the interests of retaining cash within the Company, certain Directors will use a determined portion of their income from the Company to purchase newly issued ordinary shares in the Company on a monthly basis on the first day of each month. The number of Block Listing Shares to be issued each month will be determined by the closing mid-market share price of ordinary shares in the Company on the trading day immediately prior to the issue of the Block Listing Shares. The Block Listing Shares may also be used to settle cash sums due by the Company for other purposes. On issue, the Block Listing Shares will be issued credited as fully paid and will rank pari passu with the existing ordinary shares in issue.\n \nFollowing the admission of the Placing Shares and the Block Listing Shares on 17 September 2010 the Company's total issued share capital will be 922,115,992 ordinary shares of 0.2p each. This figure (922,115,992 ordinary shares) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.\n \n \nEnquiries:\n\n\n\n\nCyan Holdings plc\n\n\nwww.cyantechnol...