REG - CyanConnode Holdings - Contract in the Middle East and North Africa

Cyanconnode HoldingsAnnouncement

31/10/2023 07:15

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RNS Number : 8388R  CyanConnode Holdings PLC  31 October 2023

 

31 October 2023

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

Contract in the Middle East and North Africa (MENA)

 

CyanConnode Holdings plc (AIM: CYAN) is pleased to announce that it has
received a Letter of Award (LOA) for a follow-on smart metering deployment in
the Middle East and North Africa (MENA) region.  This follow-on contract
builds upon the first MENA order announced by the Company in April 2022 and is
for CyanConnode's cellular communications product, which will be deployed to
connect smart electricity and smart water meters.

Under the LOA, CyanConnode will supply cellular hubs, with a capacity to
connect 1.41 million devices. Delivery of the first 7,000 hubs is expected to
complete by early November 2023, with the full contract expected to be
delivered over the next 12 months.

 

John Cronin, Executive Chairman, commented:

"We are delighted to have secured this LOA, building upon our previous success
in 2022, where the delivery of cellular hubs to connect up to 1 million
Omnimesh cellular communications modules in the MENA region has been
accomplished successfully. This contract significantly enhances our
relationship with this important customer, which continues to strengthen as we
further develop our business in the MENA region, and enhances our visibility
over revenue."

 

 

- Ends -

 

Enquiries:

CyanConnode Holdings plc
                                   Tel: +44 (0) 1223 865 750

John Cronin, Executive
Chairman
   www.cyanconnode.com

Strand Hanson Limited (Nominated and Financial Adviser)
   Tel: +44 (0) 20 7409 3494

James Harris, Richard Johnson, David
Asquith

 

Zeus Capital Limited
(Broker)
                Tel: +44 (0) 20 3829 5000

Simon Johnson, Alexandra Campbell-Harris

 

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.

For more information, please visit www.cyanconnode.com
(http://www.cyanconnode.com)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

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