Member Info for Inthetin

"It is intended that the Possible Offer would be effected by way of a Scheme of Arrangement under Part 26 of the Companies Act 2006 (the "Scheme"), however Esyasoft reserves the right to implement the Possible Offer by way of a CONTRACTUAL offer (i.e. 50% + 1 to get control)."

I think that the BoD and major shareholders have enough to push this through at 10.44p.

If you decide not to sell and become one of the 49%, you will get caught in the minority trap.

IMO, the major shareholders have been brought in recently to finish off the PIs.

Hi jakeandelwood

Well said and well done on committing to writing to The Takeover Panel.

Hi emptyend

Can't you read?

"Having considered the Revised Proposal carefully with its Financial Adviser, the board of directors of CyanConnode (the "Board") has confirmed to Esyasoft that the Revised Proposal is at a level that the Board would be willing to RECOMMEND unanimously to CyanConnode shareholders."

That categorically says that the BoD would recommend the 10.44p bid, should it be made, unless they are misleading ES.

Hi tonyj

You and anyone else with something to say about the ES deal should speak up now. Have your say with the various organisations ASAP - it could well be your last chance. Make a noise.

Don't take any notice of gizmo555 and his faux confidence in Cyan surviving as an independent company - IMO, he simply wants the deal across the line with the minimum of fuss.

How can we request an EGM when we don't know who to trust on these BBs? There must be a tried and tested mechanism for situations like this.

Can we appoint an independent 'agent' who we can divulge our holdings to and establish if we can make up the required 5%. That way, it keeps everyone's information confidential.

Have a think about it, but we need to do something quickly.

if strand hanson (cyan's nomad) suspect that anything has been handled dishonestly by the bod, they wouldn't just be able to stop advising on the es deal, they would be forced to resign as nomad, which would kill the deal and suspend the company's shares.

there's plenty for sh to consider over the next few days. do they they really want to risk losing their nomad license entirely by turning a blind eye to what has gone on over the last 16 or so months at cyan? i don't think so. their exchange 'policing' license is far more valuable to them than any single advisory fee.

imo, it seems blatantly clear that cronin & pea**** have broken at least two aim rules and you don't need to be einstein to work out which ones, so sh should be able to manage it.

sh know what they should be doing (i.e. resigning) and should do it asap.

I'm sure The Guardian would find our situation interesting. There's an interesting article about Brewdog's early investors getting screwed too.

https://www.theguardian.com/business/2026/mar/04/small-investors-turn-on-james-watt-after-brewdog-founder-admits-many-mistakes

Another job for Friday - they're building up.

Sorry, we need our group to hold 5% of Cyan's shares (combined) to call an EGM.

We need a group of 5% of shareholders to call EGM.

Of course, there is a more straightforward way of resolving this. ES could put forward a fair binding offer by say 5:00pm tomorrow.

Failing that, we call an EGM and attempt to remove the BoD.

What would a fair offer look like? As I have said previously, I would sell my shares for 87p each (2 x order book (very fair) plus a bit of a penalty for ES & BoD attempting to screw PIs).

What would others be happy with?

After 5:00pm tomorrow, I will be contacting the Serious Fraud Office.

Hi CB

I don't agree. I think that it can be done, but advisers will be pulled in too - either negligent or complicit.

A qualified accountant has no excuse for being so far out with a forecast.

Hi jakeandelwood

IMO, they have shot themselves in the foot. I wouldn't be surprised if one of them isn't wondering what the hell they've got themselves involved in.

We'll see.

As per 03/03/2026 RNS:

"In addition, approximately a quarter of CyanConnode's group revenue has come from the Esyasoft Group in FY24 and FY25 combined."

Oh eff off. That means that 75% of our business comes from elsewhere. How about focusing on the other 75% you tw*t and trying to do your job properly.

Don't just dismiss the FCA. You've got to use all the options open to you (FCA, The AIM Regulation Team and The Takeover Panel) for starters.

Https://sforeporting.egressforms.com/

Bang on the money tonyj.

Hi tonyj

IMO, this plan is a couple of years old.

The crux of it is the £34.5M revenue forecast for the FY25.

It was never achievable and he knew it. He also knew what the effect would be after they had consistently told the market that expectations would be meet i.e. a complete crash of the SP.

The excuses for not hitting the revenue figure do not hold water.

He has made the fatal mistake of confusing his own deviousness with intelligence.

He hasn't done this alone. There are people in place who should have been policing his 'activity' and they need to take notice before this gets seriously messy for them too.

Shareholders who are not happy should raise their concerns with the various organisations that I have previously mentioned.

This is my last post until I see what happens by the end of March.

Surround yourself with halfwits www.cyanconnode.com/about/team/ and you can do what you like.

There's a lot of UK taxpayers money going up in smoke here.

All those R&D Tax Credits that have been claimed and gone straight out as BoD payments. It's as if that was the business model.

Then there's all the 30% EIS tax reducers that the larger shareholders have benefited from.

And he has the nerve to pose outside number 10. It's a disgrace.

Little wonder this country is up the creek. Those with the most seem to want to contribute the least. If they can find an angle, they'd prefer to contribute nothing. They're pathetic.

Hi tonyj

7 months is 7 months.

Customers are obviously not simply beating a path to their door.

More BS isn't what we need right now.

Yesterday, I mentioned potential negligence by those with responsibility. I hope for their sakes that this doesn't go beyond that.

Have you raised your concerns with anyone?

"I know one of the former directors, who has been involved in a large number of early stage tech companies. He told me that CC was the only company he’d been involved with where you didn’t really need to sell the product - customers simply beat a path to your door."

That's obviously not correct - the company hasn't made a new sale in 7 months.