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Their new year end is 31/03/2020.
Are they talking about costs landing in the period from 01/04/2020? Who knows?
They report in the same way as Les Dawson used to play the piano.
Nothing changes here.
"The Board anticipate that these in year cost savings will provide further benefit into 2020, and anticipate the savings to increase by a further £1.2 million per annum for 2020."
Would that statement not suggest CC do not expect to have to invest any cash to deliver the contract until after YE 2020? Therefore do you assume no contract commencement until 2021? For me the RNS raises more questions than answers.
It makes it sound like they are celebrating the fact that there's another contract delay coming, 150% of the size of the delayed one just reported.
I've never come across a company that spins news in this way.
Neither (the £0.8m or £1.2m) are 'savings'. The costs will be matched against the relevant income as and when (if) it lands.
Deceiptful or thick as pig **** - take your pick.
tonyj will see it as a takeover bid of £1.40 has been received but JC is holding out for true value.
I think it means CC will not have to buy product to service orders they didn't win. They put is as cost saving, I see it as abject failure to run a business.
"As a result of the delays in the award of these contracts the Company anticipate that operating cost savings will be approximately £0.8 million per annum rather than £0.48 million previously reported on 13 May 2019. The Board anticipate that these in year cost savings will provide further benefit into 2020, and anticipate the savings to increase by a further £1.2 million per annum for 2020."
Could someone help me by explaining what Cyan are talking about, please?
Are these costs that they are referring to (£0.8m and £1.2m) just being delayed or are they vanishing? Sorry if I'm being a bit thick (again).
So, no proof of Omni pricing, no proof of BI income, nothing on UK, laughable knowledge in middle east, yet you still post absolute facts. Did I read somewhere you where involved in local government LOL?
Colour, you are a bore or should I say boar, you must be thick, sorry for the sake of grammar I missed out 'notification'.
No proof of Omni pricing, perhaps JC will help in this regard, but you have not decried Omni, I wonder why. Is it that is going to come to the fore with EESL and not be the rubbish you forecast.
I'm am not going to banter with you and waste another week just leave you looking into the bottom of your glass.
Think you might have to spell it out jake. Best to use big shapes and bright colours where possible.
Hi Tony. Can't be bothered to spell it out but........ installation to start within 15 months, revenue over two years, is there a non binding clause? Take the simplystic view. AIMO of course
'JC has probably been forced to give this LOI but it just awaits final details'.
Sorry, who has JC given a LOI to, am I missing something or do you really not know what is going on here?
Ok sunshine, another drum you keep banging, where is your proof that Omni is the cheapest option out there. You have stated this so many times, along with all the other drivel, so you must have information ready to hand..... over to you.
Hello jake.. As has been said JC is not giving a lot of detail. Did not quite see your logic but to my view the Canopy system has caught the eye of the policy makers, they have shown great interest in Indore, they had previously showcased Mysore, CC is probably still the cheapest (important) in this field and Omni works. That requires an OMG as somebody said it would never work. Next few months should bring results. JC has probably been forced to give this LOI but it just awaits final details.
When does the closed period end for directors?
You would expect them to pile in when they can.
Apologies for the typos walking and typing lol. But you get the gist!
Given CC are 'self proclaimed' world leaders in what is effectively communication, the irony in having to release another RNS to explain the last one is frankly appalling. This continued lack of accurate information is beyond amusing now. CC you should be bloody ashamed of your conduct, I wouldn't trust you with orders either.
Hi Tony again supposition. What makes you think CC are named innthe main contract? Look at the RNS Andrews the timings. 80% of the revenue over the next two years, contract installation within the next fifteen months.
So best case CC will get 80 % between Dec 2019 and Dec 2021 or if the contract ibstalkat commences at the far end fvthe scale ie Mar 2021 could be 80% between 2021 and 2023 worst case. That is assuming no Jon binding clause within the LOI.
Just my opinion and taking a balanced view based on what is in the RNS. VAS is spot on, lacking specific detail.
On another point can anyone confirm if any other LOI has come to fruition?
SP peaked at 2.5p and will probably be red by the end of the day.
Hello jake.. I think the main concern is, has Genus got the contract signed. If the main contract named CC in its submission then I cannot see it being changed.
The next denigration will be that it is a small contract but I believe it is not as it involves Head-end, I take it CC may well be the lead similar to Mysore.
CC went for leasing which is more long term if they can get these previous contracts signed off, new ones possibly from EESL, updates from SMETS2 and any more info re BI then it could be a good New Year.
As always lacking detail . Genus receive the order and CC recieve a LOI which in the past, have not been binding ...the time scales are also ambiguous ..is it fifteen months to completion of project or is it that project may start anytime within next fifteen months, and from what date does year one of the two year income protection begin.......all this dictates the timing of any income. Looks like that's it until after Christmas now as far as orders go...
"The installation of the project is expected within the next fifteen months," So it could commence anytime from today to March 2021?
The pertinent question would be "is there a non binding clause within the LOI" The company should be able to confirm this as for me it is relevant to the RNS.
If investors got in on Friday, on the back of this, it shows even leaked news isn't accurate. A new low CC, well played.
Then...
Cyan Holdings Plc
08 June 2015
8 June 2015
Cyan Holdings plc
("Cyan" or "the Company")
Proposed Fundraising,