The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.

THIS 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.

THIS 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.

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CyanConnode Holdings plc

“(“CyanConnode”, the “Company” or together with its subsidiaries the “Group”)

Proposed Placing, Subscription and Open Offer to raise up to £5.6 million

Notice of General Meeting

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CyanConnode (AIM:CYAN.L), a world leader in narrowband radio frequency (RF) mesh networks, is pleased to announce that it is proposing to raise £5.1 million (before the deduction of fees and expenses) through the issue of 39,787,391 Placing Shares and 10,665,000 Subscription Shares at 10 pence per Ordinary Share. In addition, the Company is proposing to raise up to a further £0.5 million (before the deduction of fees and expenses) through an Open Offer and the issue of up to 5,142,961 Open Offer Shares at 10 pence per Ordinary Share. The Fundraising Shares will rank, pari passu, in all other respects with the Company’s Existing Ordinary Shares. John Cronin, Harry Berry, Heather Peacock and David Johns-Powell, directors of the Company, have participated in the Fundraising.

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Key Highlights

• Proposed Fundraising to raise up to £5.6 million through the issue of up to 55,595,352 Fundraising Shares to new and existing institutional and other investors at 10 pence per Share;
• The Issue Price represents a discount of 18.4 per cent. to the closing price on 18 October 2018, being the last trading date prior to announcement of the proposed Fundraising;
• The net proceeds of the Fundraising will be used to fund future growth to include investment in research and development and working capital to execute on the Company’s order book, pipeline and growth plan;
• The Fundraising is conditional, inter alia, upon Shareholder approval at the General Meeting of the Company which is expected to be held at Merlin Place, Milton Road, Cambridge, CB4 0DP at 2.00 p.m. on 5 November 2018;
• £1 million Board and senior management participation in the Fundraising; and
• Appointment of Arden Partners plc as joint broker.”

Continues…

Source and rest of announcement: https://polaris.brighterir.com/public/cyan/news/rns/story/r7yz3gr