Member Info for Inthetin

Hi tonyj

15p is history.

Old 15p is new 10p.

15p x 128m/182m = 10p

Rise based on a bit of pre-placing hype. This SP will now go down (IMO).

When Cyan had about £2m in the bank, the market was happy to value the company at £9m (130m shares x 7p). Therefore, value excluding cash was £7m.

Now, company has £5m in cash. Add that to the £7m gives you £12m. Divide the £12m by 183m shares and you're back to 6p (roughly speaking).

There'd be more interest at 6p - 7p (maybe).

The Open Offer turned out to be a bit of a flop with just a 65% take-up. They won't be bothering to do that again next year.

Hi LTI

I'm sorry to hear that.

ITT

'Results of the General Meeting and Fundraising expected to be announced - 5 November 2018'

A bit tardy.

LTI's 8.04 post this morning doesn't make the Placing sound like a formality.

Hi tonyj

Sorry, what do you mean when you say Powers? Are you meaning Johns-Powell?

The only £100K I can see mentioned is Johns-Powell's £100K of Open Offer shares.

As far as I am aware, nobody is underwriting any shortfall.

Not long until we find out what's happened.

"Should the Fundraising (or any part of it) not proceed for any reason, the Company would need to find alternative funding and would face future uncertainty."

It's in bold at the end of Proposed Placing Subscription and Open Offer document.

Don't tell me, that just a standard statement that's put in and should be ignored.

JST, DJP and management could still be involved with Cyan going forward but as a private company instead of one that's on AIM. There are more ways than one way to skin a cat.

What happens if they have only been able to attract say £4m of cash by today, instead of the £5.1m?

Is the fundraise treated as failed and pulled i.e. the £4m repaid and an alternative funding option sought?

Hi CB

* General Meeting 2.00 p.m. on 5 November 2018

and

* Results of the General Meeting and 5 November 2018

https://cyanconnode.com/wp-content/uploads/2018/10/CC_Circular_October_2018.pdf

Hi tonyj

In your opinion, how risky is a punt on Cyan right now i.e. on a scale of 0 - 10 ( 0 = basket case / 10 = no risk or minimal risk)?

ITT

Hi CB

I didn't know which way it swung, just noticed the size.

That's a big one.

Hi LTI

No, just don't like scummy behaviour from anyone. If you think that something is worth 10p, pay 10p for it. Don't wheedle your way into paying 7p for it and then get those less fortunate than yourself to stump up the remainder.

As we're moving into the last quarter of the year (and the coldest), it's a good time to start thinking about things like this:-

https://www.crisis.org.uk/get-involved/reserve-a-place-at-crisis-at-christmas/

Watch the video and tell me you're happy with Johns-Powell getting the taxpayer to give him £200K, equivalent to 7,000 places at Crisis this Christmas. It's obscene.

Is that a question?

If I am correct, in what way is it fair that Johns-Powell gets himself appointed to the board, somehow gets out of paying 28p per share that he had agreed to pay and now helps to create the opportunity to buy more shares than he originally agreed buy but at a third of the price?

On top of that, why should taxpayers be subsidising a fairly wealthy guy's investment to the tune of £200K? They shouldn't be.

In effect, he'll be paying 7p per share, as taxpayers are footing the cost of the balance.

Hi LTI

Am I correct in thinking that Johns-Powell is subscribing for £650K worth of shares under EIS?

ITT

£500K of the £1m you refer to doesn't count, as that's just Taffy being let off the hook from what he already owed.

Now, instead of him getting 1.7m shares (@28p), he's getting 5m (@10p). Tidy.