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And Esyasoft is based in the UAE !
I thought it interesting that Cyan are in the process of forming n entity in UAE.
Together with last Fridays news that Adanai and Esyasoft have shareholder approval for a joint venture where Adanai to take 49% and Esyasoft to take 51% in "Adani Esyasoft Smart Solutions".
ttps://www.business-standard.com/markets/capital-market-news/adani-ent-arm-to-acquire-49-stake-in-adani-esyasoft-smart-solutions-124041300386_1.html
Is it just coincidence that Cyan are partnering with both Adani and Esyasoft in India and possibly the MENA regions.
Weather issues ????
Today, we have made the incredibly difficult decision to cancel Middle East Energy 2024 in its entirety. Please check the website for a full statement later today. Visitors, exhibitors and contractors should not make their way to the venue at this time.
I'm guessing team CC have been there all week anyway.
Thanks LT,
I think this is one of the best days we have had on here for some time, and i do not mean the sp reaction - but just in confidence shown in meeting and exceeding forecasts going forward.
Makes me more confident that Cyan's major partners remain, and will play a big part of Cyans growth.
GL LT and thanks.
Good morning Vas,
I believe your interpretation is correct. Only 20% to go, to hopefully meet next years forecast. As long as the Omnimesh modules are installed and invoiced, of course.
But they seem pretty confident.
LTI.
We are informed today "FY24 marked another exceptional period for CyanConnode in terms of our strategic footprint and revenue, and I'm delighted to announce that we expect revenue to materially exceed market expectations."
So we are told that the forecast of FY24E of £16.3 million will be materially exceeded.
and
For FY25E with a forecast revenue of £34.5 million "will cover approximately 80% of FY25 revenue expectations, from FY24 backlog ".
Am I correct in thinking that CC just need another 20% of new business / revenue this year to meet the £34.5 FY25 forecast, and therefore with the awards we hope will come from India ( such as Yesterdays) alone this year, this number should be smashed.
Also from the Zeus report:-
" New office: Due to rising commercial prospects, CyanConnode announced that it is in the process of establishing an entity in the United Arab Emirates to promote business in the Middle East and North Africa region."
CyanConnnode could be looking at " Post India " planning, even at this stage.
Very interesting indeed.
LTI.
From the Zeus report:-
" New order: Yesterday CyanConnode announced it had received its fifth order of 265k Omnimesh Modules under its Framework Agreement with IntelliSmart. The minimum 3m unit framework agreement was signed in February 2023. We estimate 2.0m units have been ordered to date, leaving at least 1.0m orders, some of which may further support FY25 revenues."
I note " The minimum 3m unit framework agreement ....... ". Maybe it is possible that this particular Strategic Framework Agreement, can be extended at some time in the future.
Interesting.
LTI.
Maybe the best statement would be some decent Director buys, not at a discount in the midst of a fundraise, but at the same prices us lot have to pay
..... ahead report, is on the CyanConnode website:-
http://cyanconnode.com/investors/analyst-research/
LTI.
Morning all, very good update, perhaps JC will cover any questions raised here in his video. I expected a jump to say 15p, perhaps later today. The buy/sell gap earlier on got very tight, I think on info and backlog SP should be approaching 40p, is it that due to a lot of shares being long term holds that dealers are lacking enough Churn. We are not yet on Funds monthly order book, if that changed I feel we would be away. DYOR
Good morning Vas and l agree. There are some significant positives within the Trading Update, depending how they are interpreted.
But good news I feel.
Good Luck.
LTI.
The issue of the raise should be answered by one thing: Is the significant rise in revenue arriving in the form of cold, hard, cash……or not?
My impression has been that the squeeze on the company’s liquidity was at its greatest a year or so ago, when directors made loans.
Morning ITT, I think the market could be right.
I have always been of the opinion if CC were to win any very large orders they would struggle to finance them without a significant fundraiser of takeover.
Welcome update but for me short on financial info which worries me. Maybe the walkdown of the SP was to support a fundraise, it's happened before as we know, then, post raise, a lift in the SP. Just got to keep playing the game.
Hi jakeandelwood
It does appear that the market is anticipating another fundraise.
It will be interesting to see what happens to the SP if it becomes clear that a fundraise is definitely not on the cards anytime soon.
Perhaps a statement from the company?
GL
ITT
Good morning all,
The news that CyanConnode " ...... is in the process of establishing an entity in the UAE ...... " to promote business in the MENA regions, is very interesting and could be very significant in CyanConnode's global aspirations.
We will have to wait and see how this " entity " is structured and how it fits in with/in to, CyanConnode's global footprint.
Very interesting indeed.
LTI.
With the very positive trading update, the content that would have been known for some weeks, why the SP has recently dropped around 25%?
I recognise that’s it’s unfortunate to announce such an update on a Red day across the markets, but I sense potential is huge here.
Indeed, a very positive update indeed, I note the retrace in the Share Price doesn’t align with the growth of the Company.
I’ve watched Cyan for a number of years and felt I’d missed the boat when the SP shot off over the horizon to 24p plus.
Seems a bargain at 8.8p with a burgeoning order book and plenty of cash.
Looking in, what’s the issue here, from one of the LTH’s please?
....... John Cronin commented:-
" FY24 marked another exceptional period for CyanConnode in terms of our strategic footprint and revenue and I'm delighted to announce that we expect revenue to materially exceed market expectations.
" During the period, our order-books continued to grow; for India alone, cumulative orders stand at approximately 6.6 million Omnimesh modules. To date, we have successfully delivered around 2.8 million Omnimesh modules and we anticipate that deliveries of Omnimesh modules will significantly increase uring FY25. It is encouraging to see that expected deliveries on our backlog, as at the end of FY24, will cover approximately 80% of FY25 revenue expectations."
A significant achievement by CyanConnode, I feel. As the " Highlights for the period " confirm.
On an additional note, the Company would like to advise that John and Heather will be participating in a Q&A session for investors in the coming weeks. Further details will be provided in due course.
Good Luck all.
LTI.
Fantastic RNS !
Showing real confidence in the company moving forward into the near term Indian 250 m smart meter opportunity and more importantly for me demonstrating in real terms what effect the Indian rollout is having on Cyan's future revenues....
Along with the excellent news that Cyan "is in the process " of establishing an entity in the UAE (United Arab Emirates) to promote business in the MENA (Middle East and North Africa) region. Well Done All and GL. Vas
Someone call the Matron.
Good morning all,
Another little snippet from the rather " upbeat " Trading Update:-
" It is encouraging to see that expected deliveries on our backlog, as at the end of FY24, will cover approximately 80% of FY25 revenue expectations."
Very encouraging indeed.
Well done to all concerned.
Good Luck all.
LTI.
...... published today, with " Revenue expected to materially exceed market expectations."
http://polaris.brighterir.com/public/cyan/news/rns/story/rggo00r
From the Trading Update:-
" The post period has started on a positive note, with an additional order from IntelliSmart under a Stratigic Agreement signed in February 2023. Business in other regions remains buoyant and the Company is pleased to announce that it is in the process of establishing an entityin the UAE ( United Aran Emirates ) to promote business in the MENA ( Middle East and North Africa ) region."
Excellent news on many fronts, I feel.
Good Luck all.
LTI.