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.