REG - CyanConnode Holdings - Statement re media speculation

Cyanconnode HoldingsAnnouncement

01/08/2024 14:00

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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: +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 (Joint
Broker)
Tel: +44 (0) 20 3829 5900

Simon Johnson / Louisa Waddell

 

Panmure Liberum (Joint
Broker)
                Tel: +44 (0) 20 3100 2000

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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