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Good morning all, The L&T ( Electrical and Automation ) division, is in the process of being purchased by Schneider Electric. An interesting development I feel. LTI.

.......... are two utilities in India, that are looking to implement smart meter programs, possibly towards the end of 2018. It is also mentioned in two of the reports, that BESCOM, has been " ..... gathering details from Chamundeshwari Electricity Supply Corporation Ltd ( CESC Mysuru,) which is conducting a pilot study, by installing 30,000 smart meters in Mysuru city." It is good to get confirmation that other utilities, have been getting feedback from the Mysuru ( Mysore ) project, installed by a consortium, that included CyanConnode. From June 2017:- https://www.deccanherald.com/content/619611/bescom-forms-panel-smart-meters.html From July 2017:- https://powerline.net.in/2017/07/16/bescom-to-launch-smart-meter-project-by-end-of-2017-18/ From March 2018:- http://www.newindianexpress.com/cities/bengaluru/2018/mar/28/smart-electricity-meters-to-come-up-in-hsr-surrounding-areas-1793517.html LTI.

Good morning Chianti. Thank you for the information regarding the Rajasthan tenders. It was appreciated and very interesting indeed. Anil and the Team in India, seem to be keeping themselves fairly busy. Good luck. LTI.

Good morning Multi, Sustainable and reportable revenue recognition, is the point at which we as share-holders, will recognize the ground-works will have been completed. Good luck, Multi. LTI.

Good morning 2cv, It is a practice often used when meter manufactures report orders. They never want to give to much information away to their competition, but enough, in the case of share-holders and the market in general. At least, that is the way I view it. Good luck, LTI.

Good morning all, Progress is beginning to show through, from the foundations that have been built, over the last few years. Well done to all concerned, at CyanConnode.. Good luck. LTI.

Good morning Vas, You are welcome. It will be interesting to follow future RNS's, concerning orders and to see the different terminology used. And if the term " devices " is used on a more frequent basis. But the SilverSpring comparison is interesting, as I had not come across that deployment before. But getting back to your original point and my Ukraine v MPWZ reply, I do not think you can compare the two orders, because of the way the orders seem to be structured differently. Good luck. LTI.

Hello Vas, As I read it and understand it, the latest $3.2 million order from L&T, for MPWZ, is not for the integration of 250,000 smart meters. From the RNS, dated 21st May, 2018:- " CyanConnodes IPv6-based solution, will enable a secure, IoT network canopy, covering 15 zones of the Indore circle, with a capacity to connect up to 250,000 devices. The standards-based narrow-band mesh technology, supports build-as-you-go networks, which will allow MPWZ to rapidly scale its smart metering implementation across its consumer base." The RNS, for the Larsen&Toubro order, does not cover a specific number of meters. Or how many smart meters are being installed by L&T initially. It only mentions " ....... a secure IoT network canopy, covering 15 zones of the Indore circle, with capacity to connect up to 250,000 devices." Also notice that the RNS stipulates " devices " and not smart meters. I do not think you can compare the orders for the Ukraine and MPWZ, on a like for like basis. They seem to have different complexities and the orders seem to be structured differently. So, I view the latest order from L&T, as an IPv6 " canopy only " order, with the rest to follow. Putting the " Horse before the cart," so to speak. LTI.

Good morning Vas and all, It would seem, from the Full Year Results presentation, that CyanConnode are charging for any additional services, that the Company provides. From the video:- " We have seen an increase in opportunities through our ecosystem of partners, whether it is meter manufacturers, system integrator's, or mobile operators and they have opened up new opportunities for us, in new territories, around the world. Included in that, is where they have paid us for integration work, which we have not experienced before, so that is good news for us from a cash-flow point of view." Good luck. LTI.

Hello Vas, Which FinnCap research note are you referring too? Can you provide a link? LTI.

Ooooops, Try this:- https://eesl.eproc.in/ProductEESL/publicDashReplica?viewFlag=NewTenders LTI.

Hello Chianti/CB, You may be both interested in this. If the link works. https://www.eesl.eproc.in/ProductEESL/publicDashReplica?viewFlag=NewTenders If it doesn't, this is what is on the document - Item 1 - EESL/06/ICB-AMI-System Integrator-Pan India/181905004 Whether the reference to " Pan India " is to AMI or System Integrator individually, or whether it refers to them collectively. But it does mention it. LTI.

Hello Vas, As far as I know, it was/is an Iranian government funded project. I do not know how much private money is available in Iran. You have touched on the other point I was going to mention, that is being funded by another country, as part of a trade initiative. The Iranians need to sell their oil somewhere. Good luck. LTI.

Hello Vas, Thank you for the FinnCap analysis. It is appreciated. Good luck. LTI.

Hello CB/jake, From the Final Results:- " As a Board, we continue to closely monitor the cash resources available to the business, in order to ensure adequate funding is in place to meet the requirements of the business. During 2017, we received �11.3m ( before expenses ) of equity funding. We continue to work on securing additional funding, that will be required during 2018, especially as we start to deliver on orders, which are expected to require upfront working capital investment. This funding could include one, or a mix of working capital facilities, strategic corporate investments, additional equity funding and licensing deals, for our new Omni IoT platform. We remain grateful to our supportive shareholder base, which has funded the Company to date, including two fundraises, from last year." I think we are all clear, on the cash situation. LTI.

Hello tonyj, The first reference, as I understand it, was for Genus and UGVCL - July 2017. " The IPv6-based solution will enable CyanConnode's first IoT communications network, supporting the connectivity of smart city and IoT applications, through one network in the future." The previous order from June 2017, from Tata Power Mumbai and L&T, has no reference to IoT, that I can see. But both L&T and Genus, both comply with the IS 6444 Indian Standards for meters, which I believe is a requirement by EESL, for their tenders. LTI.

......... but it is still good to see recognition of the CyanConnode order from Larsen&Toubro, for MPWZ, in the industry press. https://www.metering.com/news/cyanconnode-lt-mpwcz-india-ami/ LTI.

Good morning all. A passage from yesterdays presentation:- " The scale is immense actually. There's something like 250 million static meters to go at and the Government of India has set a target, that they want 35 million devices ordered by 2019. So not far off that date. In fact we are seeing a large amount of tenders coming out now and we are really busy in India answering those tenders, influencing them and actually winning, as we indicated today, with this order." Could/should be a busy summer. But time will tell. Good luck. LTI.

......... has apparently not been hampered, by the ongoing acquisition of L&T, by Schneider Electric, which is good to see. And could justify Schneider's interest in L&T and more broadly the smart meter/smart grid/IoT market in India. And the overall opportunity for this new client, is encouraging for the validity of the recently launched Omnimesh solution. While the Finals Results were disappointing, financially, and to some extent expected, because of the delay with one of the CyanConnode contracts, acknowledged by the Company in the January 2018 Trading Statement, the L&T order highlights what the delivery team are achieving, in this case, in India. LTI.

........ from John Cronin, about Finals Results and recent order from L&T. http://cyanconnode.com/presentations-and-videos/ LTI.