Member Info for Inthetin

Not only the Takeover Panel, these other government agencies would be interested depending on the angle you take:

National Crime Agency, FCA and HMRC for starters.

Hi gizmo555

The 'Incompetents' are happy and continue to take their £600K+ while losing shareholders tens of millions. If they don't have the skills to grow a business, they should have done the decent thing and f****d off years ago.

Don't talk to me about bought qualifications from a prestigious business school, with his 'skills' he should have tried getting into RADA instead.

Don't just sit on your hands. Do what you can before 03/03/2026.

You wouldn't just let someone steal your house or car. YOUR company is being stolen from you, after you have been paying a couple of individuals £600K+ pa to protect your asset.

The last thing you'd expect if for the same people to hand over the keys and deeds/log book to the thief without putting up any resistance. It's a disgrace.

I have written to the Takeover Panel.

All I'll say is that the BoD needs to tread very carefully.

If you are not happy with the direction of travel, I suggest you do the same. Don't just bury your head in the sand.

My guess is that FY26 is turning into a disaster and one or two have got wind of it. No sales in 6 months and how solid are the £150M of orders that are constantly being banged on about?

If major shareholders can get their money back, they'll do that and move on. There are plenty of other opportunities for them out there.

It wouldn't surprise me if JC & HP weren't given a bit of time after the April debacle to sort things out and this is the result of those instructions.

DOXA need about 7p to get their money back.

The rest of the major shareholders (individuals) are so rich it makes no odds how much they get back. They'll just move on.

I've come to the conclusion that the 9.75p (or thereabouts) will be accepted if offered.

JC drops the 9.75p RNS just as the SP was going to go sailing by it. Why?

Why did he give the offer / non-offer 'credibility' at 9.75p? Why not simply dismiss it. It would have evaporated itself if he had not intervened.

IMO, he wanted to keep the SP in single figures (i.e. sub 10p) so that he can bring/recommend a ridiculously low offer to shareholders e.g. 12p - 13p and claim that he's won us/'negotiated' an additional 20% - 30%.

If the £150M order book is real, esyasoft would be buying Cyan at a massive discount if they paid 30p per share.

Now, JC hasn't got a cat in hell's chance of getting shareholders 30p or more. Why would he have done that?

If the market thought the next stop was 15p-16p, there would be some interest. There isn't.

The rise was nothing. Certainly not enough to be rushing an RNS out.

The SP had dropped 50% from 13p to 6.5p.

Just to get back to where it was before the April'25 debacle, the rise needed to be 100%.

The recovery was just 30% before JC intervened.

Where's the Trading Update for the 9 months? When is the Investor Presentation?

£34.5M in FY25. Give me a break. They won't hit £34.5M in the 24 months to 31/03/26.

Well, at the moment, the market isn't at all interested in what's going on (or not) here.

IMO, the SP would be a lot higher now than 8.8p if JC had not rushed out his RNS on 03/02/2026. The RNS worked perfectly.

"So is JC either shafting us or playing a blinder"

I am extremely suspicious of last year's crashing of the SP. The ridiculous creation of 'market expectations' of £34.5M revenue and missing it by a country mile appears deliberate to me. A month later, Eysasoft declared as our partners.

If we are shafted by the BoD, I'd be tempted to take them on legally and find out what a judge thinks of it.

I anticipate there being quite a lot of fun/turbulence between now and 03/03/26 - tree shakes and whatever the opposite is.

Good luck with that.

i remember simon smith (previous cfo) being rather ****y when the exchange rate worked in cyan's favour - as if it was anything to do with him.

obviously, as we have now found out, it works both ways.

Are you sure that you didn't simply take mine and halve it?

Hi gizmo555

Thanks.

Are you going to share how you get to that figure?

hi gizmo555

like cronin & pea****, you are all over the numbers. rather than just pooh-poohing the esyasoft £35m valuation, how about you giving your idea of what cyan is worth? we can then compare that valuation with what cronin eventually recommends shareholders to accept.

same goes for lti.

you've seen mine.

Don't forget the losses (or shall we call them our deferred tax asset) - all £78M of them.

£78M x 25% (Corporation Tax) = £19.5M of future tax savings.

That means Esyasoft values everything else of Cyan's at £15.5M. They're cheeky ones.

I think that 87p per share is a fair price.

£150M (order book) x 2 = £300M + £15M (penalty for trying to steal the company) = £315M.

£315M ÷ 360M shares = 87p per share to shareholders

Seems reasonable to me.

If you want to buy my shares for 87p each, please email inthetin86@gmail.com. I look forward to hearing from you.

Faux fuming like Starmer you mean?

I was just about to say, he should be removed and our own 'Stuart Rose' put in his place.

Trust is at 0%.

Over the years, I have reported this lot several times to the AIM Regulation Team. One day, they'll push things too far. Maybe they have already.