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...... has showed little or no respect for CyanConnode as a company, the Directors or the share-holders, in their pursuit of a deal. In my opinion.

The opening offer of 9.75p, as I have mentioned before, barley covers the development costs for CyanConnode, over the years, in my opinion and should have been rejected initially. With no consideration for the existing £157m order-book and the potential for future Indian and global contracts. The additional offer, as far as I am concerned, should also be rejected.

Whether this is part of John Cronins/the BoD's overall strategy, we have yet to find out, in due course.

Tonyj, we will have to see what the future holds, as far as the potential/possible future funding of smart meter contracts, is concerned, for the CyanConnode Group. But I did suggest earlier in the process, that CyanConnode could look for additional/alternative funding, for the projects.

But I might also suggest, that their could be a number of Companies/CyanConnode Partners, maybe even groups higher up the smart meter pyramid, that CyanConnode have developed over the years, who will not be very happy with this proposition.

Take care tonyj and all.

LTI.

Good morning tonyj and all,

I do not know tonyj, is the answer. But what I do know is this, post COVID, on November 18th, 2021, the share price was at 27.75p.

Since then CyanConnode have had:-

- Various orders from IntelliSmart within the Strategic Framework Agreement and outside it, for various utilities.

- 3 orders from MonteCarlo.

- An order from Genus for 1m Omnimesh Modules.

- Various orders from the MENA region.

- A 6.5 million Omnimesh order as a Systems Integrator ( Guestimated at £70m+ )

- A £70m AMISP order for Goa.

- Developed/Promoted UHES, EV charging, smart water and smart gas solutions.

- Culminating in an order-book of £157m, at the moment.

- Potential other contracts as a System Integrator and AMISP pending?

And on March 2026, an offer of 10.44p - and " ..... the Board would be willing to recommend unanimously to CyanConnode shareholders, should a firm intention to make an offer ....... " etc., etc.,.

I commented at the beginning of this process, that I thought the Esyasoft initial offer was opportunistic and still do. I also commented that CyanConnode should/could look for alternative ways to fund the ongoing smart meter projects, rather than considering the offer. I still view that as an option.

What has happened to the IntelliSmart negotiations and was it the sale of IntelliSmart by EESL and NIIF that formed the catalyst/opportunity for Esyasoft to make an offer?

Many questions to answer.

Take care all.

LTI.

...... has became the Predator - from the RNS this morning:-

" Having considered the Revised Proposal carefully with its Financial Advisors, the board of directors of CyanConnode ( the Board ) has confirmed to Easyasoft that the Revised Proposal is at a level that the board would be willing to recommend unanimously to CyanConnode shareholders, should a firm intention to make an offer, pursuant to Rule 2.7 of the Code be announced on the financial terms, subject to agreeing other key terms of Easyasoft's proposal and definaitive transaction documentation."

A very disappointing outcome, if this is the final offer.

Good Luck all.

LTI.

Good afternoon Safety1 and all,

Some additional Tamil Nadu election news, that may be of interest to you and thank you for the previous information that you have posted.

https://oneindia.com/tamil-nadu-election-dates-2026/

Another reason why Esyasoft would want to push through a deal at this particular time, before any decisions are made on the Tamil Nadu projects and any other potential near-term contracts, that may be in the pipeline for CyanConnode/DigiSmart?

Good Luck Safety1 and all.

LTI.

Good afternoon tonyj,

The CyanConnode contribution to the overall PVVLN smart meter project, for IntelliSmart, I feel can be found in the RNS released by CyanConnode, on 25th May, 2023, for 600,000 Omnimesh Modules, which I feel sure is the one that relates to the IntelliSmart post.

From the RNS:-

" The order will support a smart metering deployment in the utility, Pachimanchal Vidyut Vitran Nigam Ltd ( PVVNL ), located in Uttar Pradesh, India."

Of the 1.4m ( 14 lakh ) smart meters mentioned in the IntelliSmart post tonyj, the 600k Omnimesh Modules mentioned in the CyanConnode RNS, equates to approximately 43% of the total.

If the IntelliSmart/PVVNL project went to plan, linked with the potential installation start date within the CyanConnode RNS, CyanConnode should have entered/will be entering the Support & Maintenance part of the contract, at this stage - if they have entered " .... the go-live stage."

But as IntelliSmart have announced that they have " ....... successfully installed over 14 lakh smart meters ..... " for PVVNL, I would think that the smart meter project is coming close to the S&M part of the project, or indeed already reached it.

I hope this helps tonyj and it is just my " .... dot joining ..... ".

LTI.

...... on x.com, about how they have " ...... successfully installed over 14 lakh smart meters for Paschimanchal Vidyut Vitran Nigam Ltd ( PVVNL ) in Uttar Pradesh, a landmark achievement in the state's power sector transformation journey."

https://x.com/Intelli_Smart/status/2026253840107073920

" The journey continues: exciting milestones await!"

Well done to all involved.

Good Luck all.

LTI.

Good morning all,

From the report:-

" The meter will be installed by the department through an Advanced Metering Infrastructure Service Provider ( AMISP ), DigiSmart Networks Private Limited, at no cost to the consumer. The AMISP will also create the necessary infrastructure required for smart metering, across the state. On completion, the AMISP will continue to maintain the system for the next eight years. Any defects during the period will be attended by the AMISP."

It is encouraging to see progress being made for the Goa smart meter project, with good visibility now available for the over-all project.

Good Luck all.

LTI.

........ has posted on x.com, an article from The Navhind Times, about the DigiSmart smart meter project, in Goa, with installations for domestic consumers to start next month:-

https://x.com/CyanConnode_Ind/status/2026573005841903981

Good news, I feel.

Good Luck all.

LTI.

Good afternoon all,

IntelliSmart and Partners have installed approximately 212k+ smart meters so far during February, within 5 of there smart meter projects, while Genus and Partners have installed approximately 900k+ smart meters in 10 of their smart meter projects, during the same period.

Other Consortia/groups of Companies have contributed with a further 620k+ smart meter installations.

Good Luck all,

LTI.

Good morning gizmo,

I had seen your observations on the rule change that you posted on ADVFN and again this morning about " ....... on the 4th the rules changed to make entry to UK market harder ...... " - the Esyasoft " Possible Offer " was RNS'd on 3rd February, 2026 - so an addition to my post at 10:42 this morning, would read:-

" RDSS potential orders > DigiSmart potential orders > IntelliSmart ongoing discussions > UK Smart Meter Programme " brings about an interesting opportunity for Esyasoft. All for 9.75p.

And that's without any of the other global business opportunities, included.

Thank you for the reminder gizmo.

LTI.

Good morning gizmo and all,

I agree, gizmo. CyanConnode have spent years developing these Partnerships, with Utilities/Meter Manufacturers/Developers, etc., and the intervention by Esyasoft at this particular time - RDSS potential orders > DigiSmart potential orders > IntelliSmart ongoing discussions - is opportunistic, to say the least.

Good Luck gizmo and take care all.

LTI.

...... has also posted that " ..... DigiSmart Networks, along with @GoaElectricity hosted a day-long technical #SmartMetering workshop at @gec_goa, engaging industry, academia and engineering professionals."

https://x.com/CyanConnode_Ind/status/2025227675951137090

All included in the CyanConnode Group education initiative to further progress the Indian Smart Meter/Smart Grid progress, I feel.

Good Luck all.

LTI.

...... has posted news from Goa about how " ..... DigiSmart Networks is working with @GoaElectricity to drive awareness alongside installation. 100+schools engaged under #SmartMeterPakhwada&#IMSmart."

https://x.com/CyanConnode_Ind/status/2024796361833803973

Its good to see that CyanConnode India/DigiSmart and the CyanConnode Group are still getting on with the day job.

Good Luck all and glad to see that you had a good few days fishing, gizmo.

LTI.

Good morning tonyj, Safety1 and all,

An extension to the bid talks would be an excellent idea. Might I suggest a possible 2/3/4 year extension, to allow the Company to develop India fully and to progress in the other global regions that CyanConnode are active in. It will also give the UK smart meter contract time to develop fully and to pass on the full benefits to share-holders.

I might also suggest that CyanConnode look for additional/alternative funding options for the CyanConnode Group, to give the Company a choice, going forward.

The price per meter of the Goa contract, comes in at approximately £93 per meter, spread over the lifetime of the contract, which has to be distributed to the various companies involved in the contract.

So a number of opportunities may present themselves in the next few months, as CyanConnode develops further.

Take care both.

LTI.

Good evening all,

From the report highlighted by Safety1:-

Panaji: The electricity department is likely to start installing smart prepaid meters for private consumers after a month. It has already completed the replacement of conventional meters with smart meters, at all its substations and completed the installation of smart meters in 50% of its transformers.

" The department began the installation of smart meters for govt consumers. Next will be private consumers, beginning with the industrial consumers. Commercial and domestic consumers will follow," said Mayur Hede, superintending engineer and nodal officer for the project.

The installation of 7.5 lakh smart meters is expected to be completed by August 2027.

Good Luck Safety1 and all.

LTI.

Good evening Safety1,

Thank you for the heads-up Safety1, it is appreciated.

https://timesofindia.indiatimes.com/city/goa/power-dept-may-start-installing-smart-meters-for-pvt-consumers-in-a-month/articleshow/128574038.cms

Take care,

LTI.

Good morning gizmo and all,

MontiCarlo and Partners have installed 260k+ smart meters, over 2 of their projects during February 2026, so far. In connection with the DigiSmart contact in Goa, the DT Metering installations has increased by 855 to 1,307, during the same period. The Feeder Metering is already 100% complete for the Goa contract. Smart consumer metering for the Goa contract is getting off to a steady start, with another 40 smart consumer meters being installed during February, so far.

So as we both agree, gizmo, a slight change in the Goa project, for DigiSmart and Partners. But early days yet.

Take care, gizmo.

LTI.

...... was updated on 15th February, 2026, with the total number of smart meter installations for the RDSS Scheme, now standing at 56,677,412 - with 2m+ smart smart meters being installed so far, during February 2026:-

https://nsgm.gov.in/en/sm-stats-all

Good Luck all.

LTI.

Good evening Bordersman,

A long time since we have had a chat.

I agree with the " ..... Order book of £157M ..... " and I understand the " ...... target market of gazillians .... ", but you have me stumped on " ...... seem to point to Large PAT after the support spend."

Can you please advise, or do you mean " ....... Large Patience ..... ".

Take care Mel.

LTI.

Good afternoon gizmo and all,

I agree with your financial assessment gizmo and, as I have also previously commented, " ...... Esyasoft know that ....... ".

Take care gizmo.

LTI.