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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cyanconnode Holdings Plc | LSE:CYAN | London | Ordinary Share | GB00BF93WP34 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.25 | -2.89% | 8.40 | 8.20 | 8.60 | 8.65 | 8.40 | 8.65 | 677,322 | 09:42:43 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Electronic Components, Nec | 11.73M | -2.41M | -0.0074 | -11.35 | 27.19M |
TIDMCYAN
CyanConnode Holdings PLC
17 September 2018
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Consolidation of European Operations
CyanConnode, a world leader in narrowband radio frequency mesh networks, is pleased to announce the consolidation of its European operations.
Connode Holding AB, based in Sundbyberg Sweden, was acquired by CyanConnode in July 2016 and its operations, including software development and technical support, have been transferred to the Company's Cambridge Headquarters. The lease over office accommodation in Sundbyberg Sweden will terminate effective 31 December 2018.
CyanConnode will continue to support Nordic customers and develop Nordic opportunities using Swedish staff working as contractors to the Company, and from CyanConnode's Cambridge Headquarters.
Connode Holding AB has been dedicated to the development of CyanConnode's Omnimesh platform, which was launched in June 2018. In the Interim results, announced on 11 September 2018, CyanConnode provided an outlook that included the cost benefits relating to the closure of its Swedish Office. CyanConnode is forecasting a monthly cash cost base from 1 January 2019 onwards in the region of GBP560k. There is no change to the Company's previously notified full year expectations for the financial year to 31 December 2018, nor the outlook.
Harry Berry, CyanConnode COO, commented: "I would like to thank the staff of Connode Holding AB for the smooth transfer of operations, including software development and technical support, to our Cambridge Headquarters. Nordic customers can rest assured that CyanConnode will continue to fully support their requirements."
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225 060 John Cronin, Executive Chairman www.cyanconnode.com finnCap Ltd (Nomad and Broker) Tel: +44 (0) 20 7220 0500 Ed Frisby / Giles Rolls (Corporate Finance) Alice Lane (ECM) Walbrook PR (Financial PR) Tel: +44(0) 20 7933 8780 Paul Cornelius / Nick Rome cyanconnode@walbrookpr.com
About CyanConnode
CyanConnode is a world leader in narrowband radio frequency (RF) mesh networks that facilitate machine to machine (M2M) communication. CyanConnode's innovative technology uses the industrial, scientific, and medical radio band, (ISM), which is optimised to give exceptional performance and competitive total cost of ownership. Through global partnerships, CyanConnode provides customers with a solution for the rapid deployment of local or countrywide ISM RF mesh networks that provide reliable and secure M2M communication.
For more information, please visit www.cyanconnode.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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(END) Dow Jones Newswires
September 17, 2018 02:01 ET (06:01 GMT)
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