Cyanconnode Share Discussion Threads

[cancun tango] 24/1/2018 06:50

On 23rd Aug, swedestart had 558m old shares roughly 2.8m new, so maybe not them. We'll find out soon enough.

[rocha16] 24/1/2018 06:45

Davep4 post 1921. Many thanks. The Swedish fund ManCap, how many shares did they have? I see that 8.5m were traded yesterday..... is that the overhang cleared?

[multibagger] 24/1/2018 06:04

Courtesy of dwall on the other thread....

As i understand it CapMan Oyj are closing down the fund that originally owned Connode and in which they held stock from Cyans purchase of Connode.

It has been reported elsewhere (advfn amongst others)) that CapMan are the likely sellers of the 5m which was finally printed today.

I believe CapMan had planned to close this fund even when Cyan purchased Connode, however they were locked in for the periods and terms as outlined below preventing them (until now) of selling their entire stock other than in an "orderly market period".

Thus IF it is confirmed that the seller today is CapMan Oyj then it could well ALSO account for much of the selling over the last year as the rest of their stock was sold in an "orderly market period" which over that time would drag the share price lower and lower.

Anyone shorting the stock with this knowledge (and coupled with persistent deramping on the boards) would know they were alongside a constant seller and would have confidence in their actions perhaps.

However if now CapMan have finished selling (quite abruptly as the fund is now needing to close) and the aforementioned shorts are still open then we could see a significant trend reversal happen.

Coupled with monetisation of orders news in time and the share price could re-rate.

Whatever happens it t will be interesting to see how things (and posters) unfold.

Lol!!

GL

"The total consideration payable by the Company to the Sellers under the Acquisition Agreement is GBP6,777,567, which shall be satisfied as follows:

-- GBP4,250,000 payable in cash on Completion;
-- GBP1,340,251 will be satisfied through the issue of the Consideration Shares to the Sellers on Completion; and

-- GBP1,187,316 will be satisfied through the issue of the Additional Consideration Shares to the Sellers on Completion.

The equity consideration payable to the Sellers will be split out as follows:

1. 744,583,888 New Ordinary Shares subject to a six month lock-in followed by a 12 month orderly market period; and

2. 659,620,000 New Ordinary Shares subject to a 12 month orderly market period."

[multibagger] 24/1/2018 05:58

Courtesy of dwall on the other thread...also on Twitter (to the extent that it can be relied upon)



"...As i understand it CapMan Oyj are closing down the fund that originally owned Connode and in which they held stock from Cyans purchase of Connode.

It has been reported elsewhere (advfn amongst others)) that CapMan are the likely sellers of the 5m which was finally printed today.

I believe CapMan had planned to close this fund even when Cyan purchased Connode, however they were locked in for the periods and terms as outlined below preventing them (until now) of selling their entire stock other than in an "orderly market period".

Thus IF it is confirmed that the seller today is CapMan Oyj then it could well ALSO account for much of the selling over the last year as the rest of their stock was sold in an "orderly market period" which over that time would drag the share price lower and lower.

Anyone shorting the stock with this knowledge (and coupled with persistent deramping on the boards) would know they were alongside a constant seller and would have confidence in their actions perhaps.

However if now CapMan have finished selling (quite abruptly as the fund is now needing to close) and the aforementioned shorts are still open then we could see a significant trend reversal happen.

Coupled with monetisation of orders news in time and the share price could re-rate.

Whatever happens it t will be interesting to see how things (and posters) unfold.

Lol!!

GL

"The total consideration payable by the Company to the Sellers under the Acquisition Agreement is GBP6,777,567, which shall be satisfied as follows:

-- GBP4,250,000 payable in cash on Completion;
-- GBP1,340,251 will be satisfied through the issue of the Consideration Shares to the Sellers on Completion; and

-- GBP1,187,316 will be satisfied through the issue of the Additional Consideration Shares to the Sellers on Completion.

The equity consideration payable to the Sellers will be split out as follows:

1. 744,583,888 New Ordinary Shares subject to a six month lock-in followed by a 12 month orderly market period; and

2. 659,620,000 New Ordinary Shares subject to a 12 month orderly market period..."

[davep4] 23/1/2018 23:20

I was referring to the share weakness, weaknesses weaknesses!

[ricardox] 23/1/2018 21:09

davep4
Share weakness is being caused by CYAN BOD not delivering.
I don't normally post on stocks I have sold but the salary and consultancy fees took the biscuit. Not to mention the "know of no reason" RNS. Sold out at a 50% loss from this shambles last week and would have done sooner but for that RNS.
gla lth hope it pans out for you.

[dreamtwister] 23/1/2018 20:00

recovery back to 0.20ps

[realist1950] 23/1/2018 17:15

davep4,

If you follow your link you'll come across a paragraph which reads:

"-- Directors and certain senior managers have also agreed that, in the interests of retaining cash within the Company, they will receive all of their net income and bonuses earned during the period from July 2016 to June 2017 as shares issued at the issue price, which will represent an incremental equity investment of GBP729,904"

What's shocking about that statement is that it implies the consultancy fees and bonus payments I've previously highlighted, have actually been derived from the period of 1st January 2016 - 30th June 2016 (ie for a mere half years service, not a full year) which makes them even more ludicrous.

If I'm interpreting things correctly, I think that's quite disgusting.

Does any CYAN shareholder actually want to address this issue?

[lwaxf13] 23/1/2018 15:35

World leading at self proclaimed world leadership. Very odd though, for a world leading company they perform so pathetically. I thought world leading companies performed like ... err .. World leading companies.

[dreamtwister] 23/1/2018 15:23

not whingeing or whining this is playing out to my expectations ac/dc,.

[dreamtwister] 23/1/2018 15:16

the uk contracts can not be rolled out,if the data communications unit has not gone live & if carillion got the contract there could be further delays whilst a new contractor is sought to complete the contract.

[davep4] 23/1/2018 15:16

Share weakness is being caused by the Nordic fund manager CapMan, who is winding up a fund and selling stock. The CapMan Swedestart Tech KB fund received Cyan ordinary shares when it sold Connode, see The shares were subject to lock-in period which has expired.

[owenski] 23/1/2018 15:14

World leading at what exactly?

[buoycat] 23/1/2018 15:13

I'm not sure what posters are implying here? That it's arrogant to market the company as world leader etc? What should they put in the marketing? Second rate technology company? Is it wrong to market a company in a positive way. This is a fiercely competitive market and Cyan is always going to be high risk as a tiddler trying to operate in countries like India and as such quite rightly makes up a tiny fraction of my portfolio. I don't doubt everyone at cyan is working hard to make it a success. No doubt some wrong decisions will be made along the way. But all this constant whingeing and whining on this board contributes nothing.

[lwaxf13] 23/1/2018 14:56

I shouldn't think there will be an RNS of any substance. No one is buying the we have big orders story anymore. They never deliver, so no one believes. Same old BS but the pay and bonuses continue.

[mtw] 23/1/2018 13:34

I would hope Cronin's job was to deliver shareholder value... but yes I agree he certainly strung along milking the same cow.

[escapetohome] 23/1/2018 12:36

Good product i think and company is innovative. However, expensive to develop the product and trick area in developing markets.

Tiny company up against global super giants , in developing countries where big names have all the status and allure.

Just think a little its not easy for poor old cyan.

Mr cronin will string it along thats his job.

“ Investors “ needed to have savy to read the story between the lines - many didnt.

[realist1950] 23/1/2018 12:25

Excellent post.

[mtw] 23/1/2018 12:14

It is perhaps understandable that endless declarations announcing world leadership became a belief bordering on religion for those wanting the reality to match the dream. It is never logical that a minnow will be left unchallenged to take rich pickings whilst larger more savvy sharks swim the same waters. It is a shame that PIs have paid over and over for shocking arrogance which has delivered nothing but a decimated share price as reward for their loyalty. Trying to make any kind of sense of those performance bonuses offers a glimpse into the strange alternative reality where Cyan has been operating. Unfortunately it is in the real world where the books are balanced.

[lwaxf13] 23/1/2018 11:53

IMO they have no clue and just flip flop from one bad idea to the next hoping to get a winner. Maybe they actually believe they are good at their jobs. Meanwhile they do very nicely out of it. I would say they are obscenely overpaid.

[realist1950] 23/1/2018 10:37

Personally I think John Cronin's style is to 'fake it until you make it'.

There are now five years worth of statements, interviews, recordings and films to look at.

He's a good talker.

My guess is that it's this 'energy' he uses to encourage both investors and potential customers. This in itself can generate business. Before you know it you've won a contract when before you had actually very little....and you can then go on to tell others you've won business from X.

But it might be he has met his match in that the market is a lot tougher to break into than he had originally thought (?) and in the meantime ( five years) his hot air has begun to run cold.

There is also a mismatch coming from Harry Berry in that in one film he proudly talks of why CYAN are aiming at the developing markets only (almost dismissing countries like the UK as being embroiled in "green" issues and of little interest). Soon after, CYAN joined Connode and with it, access the UK.....which suddenly become the companies flagship project.

Factors like the above conspire to kill confidence in a company and add weight to the idea that really the company is not fully in charge of it's destiny but instead ready to hop and jump in a kind of desperation.

In one film, John Cronin was asked WHY Connode was even offered for sale and personally, I found his answer to this rather inadequate and incomplete. But that's just my feeling.

That's just my speculation and thoughts as ever.

[realist1950] 23/1/2018 10:32

Owenski, I don't think anyone on this thread has accused him of that, but sought clarity on what has been said vs the actuality of a given situation. :O)

There is a difference.

The statement made at the investor meeting (as detailed in the video) vs the figures that appear in the Annual Report are a case in hand and warrants an explanation.

A bonus of over £100k is not small beer for a company making a loss of over seven million pounds.

[owenski] 23/1/2018 10:22

Surely Cronin isn't lying? That sort of thing just never happens.