CyanConnode Holdings plc, the world leader in narrowband radio mesh networks, has corrected its announcement regarding the grant of share options to its directors. On 17 November 2023, the company awarded options to acquire ordinary shares to John Cronin, Executive Chairman, and Heather Peacock, Chief Financial Officer. The corrected details of the options granted are as follows:
- John Cronin: 600,000 options with an exercise price of 15.75p, 506,082 options with an exercise price of 14.00p, and 442,857 options with an exercise price of 17.00p. The options will vest in one third at grant and one third on each of 31 March 2024 and 31 March 2025, totaling 1,548,939 options.
- Heather Peacock: 300,000 options with an exercise price of 15.75p, 204,065 options with an exercise price of 14.00p, and 178,577 options with an exercise price of 17.00p. The options will vest in one third at grant and one third on each of 31 March 2024 and 31 March 2025, totaling 682,642 options.
These options are the first awarded to the directors in over two years. John Cronin now holds a total of 3,256,420 options, representing 1.09% of the issued share capital, while Heather Peacock holds a total of 2,216,850 options, representing 0.74% of the issued share capital. The options have been awarded under the Company's Unapproved Share Option Scheme and are expected to be converted into shares to be held in the Company's Joint Share Ownership Plan (JSOP) with the same vesting prices and dates.
In addition to the share options, John Cronin currently holds 5,672,359 shares in the Company's JSOP, representing 1.90% of the share capital, and Heather Peacock holds 1,331,498 shares in the Company's JSOP, representing 0.45% of the share capital.
The corrected announcement provides the accurate details of the share options granted to the directors and their current holdings in the Company's JSOP.