Member Info for Bordersman

I suspect cyan hasnt got to break even yet but given the orders it should not be far off.

Unhappy to be proved wrong.

Nevertheless smoke is smoke and there has to be a reason for it.

Mel

If I am correct the AJ Bell email is serioudly misleading. ........nless an actual offer has been received - if so why no RNS

Mel

My understanding is that EY have noted that they will "POSSIBLY " offer at 10.44 and that Cyan board has recommended acceptance at that level if EY firms up on an actual offer.

Someone correct me if I have missed something but no actual offer yet and so the possible offer is just a smokescreen befor the annual report end june /July.

The SP suggests something we dont know but Cyan is at the advent of material increase in turnover and a high likelihood of having reached the crossover from losses to profits ( sheltered by huge B/F tax losses so no CT Tax) ..........with bumper increases in T/O and PAT to flow soon.

aj bELL NOTE looks as if junior staff wrote it.

Mel ( still in mist)

Doing very well ? and a derisory offer ?

Are we being encouraged to get our heads stuck in a fence?

Mel

The annual report when it comes could be interesting/entertaining.

Mel

Tony

I have never been involved in a "possible offer " like this . Given the fact that the possible can be varied s recommendstion to accept is meaningless ( Isnt it) Could be wrong, but it could be Cronin just paying fro time and the more time passes then I assume the ability to calculate future income becomes possible . SP should be based on discounted future income .

Methinks we could have a coiled spring. ??

Mel

EY offer premature. Cyan's income seems set to grow by geometric progression but hasnt got bthere yet.

Only those with small brain wont see that left to grow independantly Cyan's research and product development can comtinue and that the outcome over the next couple of years should put a rocket under the MC and SP.

Odd then for a recomended acceptance of a possible offer way below the potential

There is somethng I am not seeing .

Mel

Morning LTI

It seems "Festina Lente"

Mel

How about Riki Sunak as new chairman

Maybe his wife could pitch in some rupees.

Ho ho

Mel

So the possible offer has a possible extension with no extension date mentioned .

Mirabile Dictu Mist !

Mel

Is it not true that EY cannot make an offer while the Indian Govt decides which company can own control and profit from the biggest smart meter installations on the planet. So whether JC recommends a "possible" offer or not may be just stalling until the mist clears .

Until the mist does clear there is just mist .

We do know that Cairn energy found and developed indain oil fields prospered but was hit by monster diffuculties in exiting until the International Court of arbitration ruled in Cairn's favour and allowed Cairn to exit.

We do know that India can be nationalistic . JC nor EY can see through that mist

mel

As a former accountant and investment banker & lecturer, I know how easy it is to transfer profits /losses from one period to another.

Looks to me as if FY 2025 taking advance profits was OTT/ sailing close to wind.. Looks to me as if something is jamming progress and that the Annual Report in July wont look great. although cash receipts FY 2026 do offer hope.

That is fine if Cyan can allow investors to get a handle on future projections but shareholders are too much in the dark.

I am not very encouraged by todays RNS

Mel

You might also note my astonishment that we needed an onioninvestigater.

Mel

Tony

I missed the offerof a chicken

Mel

I'M iN

MEL

In the tin.........Good that some see something. Bafflement is my ongoing position.

Mel

As india decides who can own manage and profit from the massive smart mater oll out.......chips are in the

air and few can tell how they will land. Clearly the issues are beyond Cyan's ability to control. Just maybe . our board isnt at fault.

Mel

Tonyj

Agree but maybe there is a move for india to exclude too much "foreign" control of infrastructure vital to india.

.....much in the way the UK has become less keen on chinese investment in the UK.

Maybe that is why the sp languishes. Just guessing .

My grandfather was the accountant general for Amritza at the end of the Raj. I used to hear a lot about india as a boy.

There is obviously a big round of financing going on as the indian self interest review goes on ....and none of us can control where the chips land.

That said my Nov 25 revised interest in Cyan had the sp rising in 26 to match the profits expected.

Could be foolish but there again ?

Mel

Yet still an SP of 7.625. What was that about perfect markets?

£300m market cap (MC). Assuming a questionable PE ratio ( profits multiple) of 15..... that MC only likely to arrive if

£20 m PAT hoved into view. You never know but that is way way down the line.

MC of £80 m just possible on back of my envelope