CyanConnode Holdings PLC Statement re media speculation

RNS Number : 8507Y

CyanConnode Holdings PLC

01 August 2024

 

 

01 August 2024

CyanConnode Holdings plc 

("CyanConnode" or the "Company") 

 

Statement re media speculation

  

CyanConnode Holdings plc (LSE: CYAN), a global leader in narrowband radio frequency (RF) smart mesh networks, notes the recent newspaper article in India speculating that IntelliSmart Infrastructure Private Limited (IntelliSmart), a key partner and customer of the Company in India, is considering acquiring a significant stake in CyanConnode's Indian operations.

 

CyanConnode confirms that it is actively exploring various funding opportunities to further enhance its growth and operational capabilities. Among these options is the potential for a strategic investment into its subsidiary, CyanConnode Pvt Ltd. While discussions have been held with various parties, which as a matter of course include its key partners, these remain at an early stage and there is no certainty that definitive terms will be agreed or as to timing of any such discussions being concluded.

 

CyanConnode remains committed to pursuing avenues that will strengthen its market position in India and drive long-term value for its stakeholders.

 

Further announcements will be made in due course, as appropriate.

 

-Ends-

 

Enquiries:

 

CyanConnode Holdings plc                                                                         Tel: [phone]

John Cronin, Executive Chairman                                                              www.cyanconnode.com

Strand Hanson Limited (Nominated and Financial Adviser)         Tel: [phone]

James Harris / Richard Johnson / David Asquith

 

Zeus Capital Limited (Joint Broker)                                                         Tel: [phone]

Simon Johnson / Louisa Waddell

 

Panmure Liberum (Joint Broker)                                                              Tel: [phone]

Rupert Dearden / Freddy Crossley

 

 

 

 

 

 

 

 

 

 

About CyanConnode

CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, which are used for machine to machine (M2M) communication. As well as being self-forming and self-healing, CyanConnode's RF Smart Mesh Networks are designed for rapid deployment, whilst giving exceptional performance and competitive total cost of ownership.

 

In June 2018, CyanConnode launched its award-winning Omnimesh Advanced Metering Infrastructure (AMI) platform, which has already gained considerable commercial traction, especially in India which is a key market for the Company.

 

Through a Global partner eco-system, which is vendor agnostic, CyanConnode has several routes to market, therefore it is well positioned to capitalise upon increasing Global demand for smart metering solutions.

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END

 

 

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