Member Info for Inthetin

Hi tonyj

I think so but I'm sure Cronin and the rest of the ***** will do their utmost to avoid one if they can.

Hi Mel

The Annual Report probably won't see the light of day. Private by then.

ITT

Hi tonyj

The only thing that you can do is to write to the Chairman to express your feelings.

Without 5%, we're stuffed and will have to wait.

I tend to agree with harleygreen. The boyos are no help to us - DJP, Tyler (+ nephews), Faulkner and Trezise are probably all in the same club - literally, (Cottrell Park Golf Resort) and will do very well out of a 10.44p sale.

I'm sure I've read somewhere that Tyler and Faulkner are linked to the same rugby team too (and I don't mean Wales).

Just having a quick look around and found this posted on Instagram yesterday:

"Power Minister Sudin Dhavalikar says nearly one lakh smart electricity meters have already been installed in Goa and the statewide rollout will be completed within the stipulated timeframe."

"completed within the stipulated timeframe." - good work ES.

i did think (and say) at the outset that cronin and pea**** were using this bid/non-bid to screen terrible results to 31/12/25 but they can't possibly be using/abusing the system to this extent.

imo, we have to accept the facts as they are. es might/might not offer 10.44p and our bod will accept it if they do.

Hi tonyj

I don't think that they are during this DD process, as they are 'inside'.

I'm putting it down to AJ Bell wrongly assuming.

Hi tonyj

I received an email from AJ Bell this morning alerting me to a secure message on my account. The message says:-

"Cyanconnode Holdings Plc has received a revised proposal from Esyasoft Holding Ltd. Under the terms of the revised offer, Esyasoft Holding Ltd is offering to buy all of the shares that THEY DO NOT CURRENTLY OWN for approximately GBP0.1044 in cash in exchange for each Cyanconnode Holdings Plc share held."

As far as we are aware, ES don't hold any shares. Do you think that is simply sloppy wording by AJ Bell?

Hi tonyj

"ITT, what do you know of Unfair Prejudice Petitions." - a little, but it's not about what I know, it's about what my solicitor knows.

Wait to see what happens is the advice I have received for now.

Is there a bit of cakeism going on?

"I don't think we have received information in good time." - I think I/we have a good case to argue.

Hi tonyj

I find this interesting:-

When Does the (directors') Duty Shift?

The duty to creditors is not a simple on/off switch, but rather a 'sliding scale':

* Solvent/Healthy: Primary duty to shareholders.

* Risk of Insolvency: Directors should be mindful of creditors, but the duty is not yet fully triggered.

* Bordering on Insolvency: Duty to creditors is engaged; directors must balance creditors' interests against shareholders'.

* INSOLVENCY IMMINENT/UNAVOIDABLE: CREDITORS' INTERESTS BECOME PARAMOUNT AND OVERRIDE THOSE OF SHAREHOLDERS.

Have we (shareholders) been told the truth 'WITHOUT DELAY'? My understanding is that it's Strand Hanson's (as Nomad) job to ensure that is the case.

I don't think we have received information in good time.

Why did 'MTUAC' want to hold such a big percentage for such a short time? I do smell something fishy.

The timing and mechanics of this sell-off certainly raise questions for retail investors. Here is why this looks suspicious:-

The Timeline of the Exit

Initial Stake: ~9.5%

Mid-April 2026: Slashed to 4.75% (a massive sell-off in just days).

Late April 2026: Fell below 3% (the point at which they no longer have to report further sales).

Today (May 5, 2026): According to CyanConnode’s latest register, they are essentially gone.

Why it Looks 'Fishy'

Selling into a 'Recommended' Offer: The Board has stated they will recommend Esyasoft’s 10.44p offer. Usually, shareholders wait for the 10.44p cash-out. By selling now at the market price of ~8p, Premier Miton is leaving roughly 23% of the value on the table.

Price Suppression: Large institutional sales create 'overhead resistance.' Every time the price tries to climb toward the 10.44p bid, these massive sell orders keep it pinned down at 8p. This makes the company look 'weaker' and helps the buyer (Esyasoft) argue that their 10.44p offer is generous.

The Debt Link: Remember that Esyasoft is already a major creditor ($20M+ loan). If a major shareholder and a major creditor were aligned, they could effectively 'trap' the company into a low-valuation takeover.

Any chance that 'Mr Tremendously Upbeat About Cyan' has been working in sync with ES to undermine CC's share price? If so, is that allowed?

You would hope that the boyos haven't received more financial information than the rest of us to push this deal over the line (and pocket a nice guaranteed 35% profit in the process), but who is policing it? Nobody.

hi tonyj

agreed, but imo it all goes back much further than that. i'm not going to say another word because i refuse to give cronin, pea**** (& other board members) or strand hanson a heads-up.

Hi tonyj

Don't worry, I am staying with this. Just been told to wait and see before next step.

ITT

Has anyone got a clue what those 7 x 1,887,700 trades are all about?

Maybe Mr Tremendously Upbeat/Down About Cyan again.

There's nowhere near enough financial transparency here.

The only people (other than the BoD) who can see what is going on and what potentially lies ahead are the people who don't own a single share in our company.

The last figures that are of any use to us relate to the 6-month period ended 30/09/2025 (that's 7 months ago).

If a bid is eventually made, shareholders should insist on seeing audited accounts for the Y/E 31/03/2026 and a detailed Trading Update for Q/E 30/06/2026 before being asked to vote.

Why should we be rushed/bumped into making a decision on whether to hold or sell when detailed financial information is being withheld? Why should we be forced into playing 'blind'?

If a bid is made, after years and years of share ownership, will we get 2, 3 or 4 months to work our way through the figures to decide if we want to sell or not.

If ES acquire 1% of the company, they have until 12:00pm the following business day to report it and the same goes for any subsequent purchases they make above the 1% level.

Spot on SG. No more, no less.