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Are there strict rules around finances? I doubt it.

If Cyan are genuinely in a position to compete with GIC & Genus's $2 billion platform, something has changed dramatically financially. If so, that leads us back to the AIM rules, which say:-

An AIM company must issue notification without delay of any new developments which are not public knowledge which, if made public, would be likely to lead to a significant movement in the price of its AIM securities. By way of example, this may include matters concerning a change in:

— its financial condition;

— its sphere of activity;

— the performance of its business; or

— its expectation of its performance.

Vas, what do you make of Cyan India's CEO leaving without shareholders being informed?

Friday's RNS is meaningless drivel.

GIC and Genus have set up a USD 2 billion smart meter platform. GIC hold a 74% stake while Genus hold a 26% stake in the joint venture.

Are they seriously attempting to convince the market that a £23m tiddler can compete with set ups like that? Dream on.

Hi tonyj

Do you believe that the company should have told shareholders that the CEO of Cyan India left in March'24?

Hi CB

How come the CEO (Ratna Garapati) of Cyan India leaves the company in March'24 and yet the shareholders are not notified?

What is going on here?

Cheers

ITT

The market has weighed up every single piece of news out there (including Friday's 7:00am RNS) and values a Cyan share at 7.9p.

As before, regardless of the company's set up, qualification or number of 'partners', the only thing that matters are sales and the jury is still out on that one as far as Cyan is concerned.

Are the 'partnerships' still in place? The concerns about Genus and Cyan's 'partnership' have been hanging around for ages.

That 'We're hiring' stuff was last May, not a couple of years ago.

Which announcement are you referring to?

Silly me, I couldn't help but think that this BBC article had to be about Cyan:-

https://www.bbc.co.uk/news/articles/c254ggrry45o

Or, a bog-standard fundraise.

Not sure why Panmure Gordon 'big guns' would be required for this.

Or, the IPO of some of CyanConnode India's shares.

Looking at the skill set of the Panmure Gordon team, my guess is that they've been brought in to deal with a secondary offering. For those that don't know, a secondary offering is described as follows:

'A secondary offering is not dilutive to existing shareholders since no new shares are created. The proceeds from the sale of the securities do not benefit the issuing company in any way. The offered shares are privately held by shareholders of the issuing company, who may be directors or other insiders (such as venture capitalists) who may be looking to diversify their holdings. Usually, however, the increase in available shares allows more institutions to take non-trivial positions in the issuing company which may benefit the trading liquidity of the issuing company's shares.'

Time will tell.

GL

ITT

Hi tonyj

Thanks for your thoughts.

What's with the disconnect between the SP and the story then? Do you think that CB is correct and that the market is not giving JC the benefit of doubt, thinking that Cyan's gross margin has been further eroded to achieve the claimed revenue growth or is it something else?

I am concerned that the SP is so low but I'm still hoping for a decent outcome. To be honest, I wish I'd got out a while ago and let you lot get on with it.

Heigh-ho.

GL

ITT

Hi tonyj

When you say "something big afoot", what do you think that might that look like?

GL

ITT

Hi jakeandelwood

I think that there's a chance that market is going to be caught out with this one. A fundraise seems too obvious and dull at this moment in time to me.

I'm expecting what's coming to be more complicated than that. Not sure what 'that' is though.

GL

ITT

What might revenue materially exceeding market expectations look like?

Current expectation = £16.3m

Exceed by 3% = £16.8m

Exceed by 10% = £17.9m

What is going on here? Why is the SP still less than 9p?

Yesterday's RNS should definitely have been a trigger for a rise but others appear to know something that JC has not yet told the market. How is that right?

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

Well, if it costs $30K to sponsor the nice conference cotton bag (to cart around the endless bumph), I wonder how much it has cost Cyan for the attendees' ears?

I have thought it for a while but now I'm sure that he's just taking the pi55.

Surely it's time for Mr Tremendously Upbeat to be wheeled out again. Tomorrow morning?

Hi jakeandelwood

They can do what they like and we'll all have to suck it up. Heigh-ho.

ITT

Hi jakeandelwood

Number 2 in their own statement of Compliance with the QCA Corporate Governance Code:-

"The Group seeks regular dialogue with both existing and potential new shareholders, ensuring our strategy, business model and performance are clearly understood as well as to understand the needs and expectations of shareholders."

These aren't just things put in to fill the various pages of the company's website - or am I being naive?

GL

ITT

The SP hasn't finished the day this low for 3 years.

How bad are JC & HP going to let this get before commenting?

Giving shareholders the silent treatment is no way to behave. They are directors 'running' a public company and have an obligation to keep shareholders up to date with what is going on (good or bad). As they know that they can't hide behind the parapet forever, they might as well come out and comment, sooner rather later.