Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
My guess is only good as anyone else....the nascent smart metering market is filled with various players, different set of technologies and USPs, with products at different price points trying to secure contracts in a number of countries across the world. There are varying standards/protocols/accreditations etc that need to be accommodated.
As no one player can cover all bases, they sign a range of MoUs with various other players/partners. So depending on what the contract requirements are, companies are able to bid even if they don't meet the technical requirements themselves, as they have a partner who could fill that gap. As a result, you find that the same players co-exist/compete/collaborate in no predictable manner. I suspect the vast majority of MoUs are never activated.This fragmentation/multiple providers trying to develop/find a niche is not unusual in early markets.
With maturing markets, the froth settles and the big players start to consolidate the market with aggressive acquisitions. Remember the dot com era ? and the domination by FAANG.
So I won't read too much into our "relationship/prospects" with Cuculus at this stage...it's much like the LinkedIn contact you are connected to, but never tap.
Good morning LTI and all :)
Looks like the EU are not backing down and it is a good thing from our CYAN perspective. The devil is in the detail in matters such as these, but hopefully we are in the clear and we can execute the contract and more importantly get paid !!
Good luck all :)
http://europa.eu/rapid/press-release_IP-18-4805_en.htmEuropean Commission - Press release
Updated Blocking Statute in support of Iran nuclear deal enters into force
Brussels, 6 August 2018
As the first batch of re-imposed US sanctions on Iran takes effect, the EU's updated Blocking Statute enters into force on 7 August to mitigate their impact on the interests of EU companies doing legitimate business in Iran.
The updated Blocking Statute is part of the European Union's support for the continued full and effective implementation of the Joint Comprehensive Plan of Action (JCPOA) – the Iran nuclear deal, including by sustaining trade and economic relations between the EU and Iran, which were normalised when nuclear-related sanctions were lifted as a result of the JCPOA.
The process of updating the Blocking Statute was launched by the Commission on 6 June 2018, when it added to its scope the extraterritorial sanctions the US is re-imposing on Iran. A two-month scrutiny period for the European Parliament and the Council followed. Since neither objected, the update will be published in the Official Journal and enter into force on 7 August.
More on the Blocking Statute
The Blocking Statute allows EU operators to recover damages arising from US extraterritorial sanctions from the persons causing them and nullifies the effect in the EU of any foreign court rulings based on them. It also forbids EU persons from complying with those sanctions, unless exceptionally authorised to do so by the Commission in case non-compliance seriously damages their interests or the interests of the Union. The authorisations will be done on the basis of agreed criteria which will also be issued on 7 August.
To help EU companies with the implementation of the updated Blocking Statute the Commission will also publish a Guidance note to facilitate understanding of the relevant legal acts.
Next steps
The European Union is fully committed to the continued, full and effective implementation of the JCPOA, as long as Iran also respects its nuclear-related commitments. The lifting of nuclear-related sanctions allowing for the normalisation of trade and economic relations with Iran constitute essential parts of the JCPOA. At the same time, the European Union is also committed to maintaining cooperation with the United States, who remains a key partner and ally.
In addition to the above measure, the EU, in close coordination with Member States and other partners, is working on concrete measures aimed at sustaining the cooperation with Iran in key economic sectors, particularly on banking and finance, trade and investment, oil, and transport.
Background
On 8 May, President Trump decided to withdraw the US from the Joint Comprehensive Plan of Action (JCPOA) and to reinstate all previously lifted sanctions under this agreement. The re-imposed US sanctions will come into effect after a “wind-down” period of 90 days (ending 6 August 2018) for certain sanctions and 180 day
Good morning all :)
The start of another week and more grist to the mill. Millions of meters potentially to be procured and given our partnership with L&T and Genus, we are sure to get a slice of the action. I was thinking/hoping that the "white label" proposal may spring a surprise....if we were talking to 5 (possibly 6) possible customers, then some discussions should be progressing.
Good luck all :)
Again from the same article....
It is claimed that Genus is by far the biggest smart meter and associated manufacturer in India. Also mention of a "large success" in international markets and that their manufacturing capacity has been expanded.
So it certainly looks like we have a strong and capable partner who has a track record of successful delivery to Govt projects in India. In the other link provided, Kalichamy from Inesh Energy Pvt. Ltd seems to lament the "catch 22" of not meeting Govt procurement specifications due to having no track record of delivering to Govt. projects. That in many ways makes the market more oligopolistic for the likes of Genus and better for us, as being their partner.
So there is plenty of promise....and have to patiently await the delivery of the revenues !
Good morning and many thanks for sharing Vascular...
Below is an excerpt from the link you provided, which seems to be making reference to our Omnimesh product (that's how I interpret it)
"....We have several successful AMI projects to our credit in India. We are, therefore, showcasing our one such AMI solution capability comprising of three technologies together ie RF communication, GPRS/GSM communication and PLC communication with the common HES software. This is a unique solution of its kind implemented first time in the country...."
Good morning LTI and all :)
Another positive development of a large share holder joining the Board - now we have both John Stamp and David Powell taking a more active interest in CYAN through their very sizeable holdings - about 19-20% between them. I guess JS would have liked to join the Board but geography and time zones worked against that. JS and DP will in many ways safeguard the interests of smaller holders such as ourselves, given they will take into account any opportunity costs before they agree for CYAN to be bought out in due course.
The share options are priced at a point that will incentivise Heather to achieve the same - so positive. JC also has a decent stake - so the interests are better aligned than previous.
Clearly a new sense of energy and urgency, so let's hope we gain momentum....
Good morning Chianti1974 and all :)
The BIG Report makes for very sobering reading and lays bare the various issues plaguing the Smart Meter rollout in the UK. If this is the situation in the UK with its first world economics and relatively small population, then it comes as no surprise that other much bigger countries like India starting from a much lower infrastructure and per capita economic base are going to have major teething trouble,inevitable roll out delays with issues of scaling up as well.
I wonder what the status of this report is in terms of the UK Government ? If the BIG report is believed to be authoritative and insightful, will it trigger a "pause or a review" of the whole SM roll out in the UK ? It mentions that of the 450 SMETS2 meters installed only 80 are "live" - unbelieveable really !
So overall disappointing and likely to affect the timeframes of our UK "not spot" revenues it would appear ?
Good luck all :)
Good morning LTI and all :)
Yes, it is lovely to wake up to some good news and the steady trickle of the same over the last several weeks. Though the contracts are not massive, they are hugely important stepping stones at the moment in helping investor confidence in revenues. The fact that the time frames for implementation are being announced is another welcome improvement to the quality of the RNSs.
I can't recall whether the acquisition of L&T electrical and automation division is complete as yet...but if done, then there maybe new territories that Schneider could take us to !
Good luck all :)
New order from L&T
RNS Number : 3672V
CyanConnode Holdings PLC
23 July 2018
New order from L&T for a further 10,000 smart metering units for India
CyanConnode, the world leader in narrowband radio mesh networks, announces receipt of a purchase order from Larsen & Toubro (L&T) for its Optimal technology for 10,000 smart metering units in India.
As one of the largest meter manufacturers to the Indian utility sector, L&T is already providing smart meters, enabled by CyanConnode's Advanced Metering Infrastructure ("AMI") technology. In May, CyanConnode announced receipt of a 5,000 units order. This new order brings the total units of CyanConnode's Optimal solution ordered by L&T to 41,735 to date.
CyanConnode will provide communications hardware, perpetual software licenses and an annual maintenance contract for the implementation of its narrowband RF mesh AMI solution for these 10,000 smart meters. The smart meters will be deployed over the next two months with initial deliveries of CyanConnode's hardware commencing in August 2018.
During May, CyanConnode also announced receipt of its largest order to date from L&T, a $3.2m order for its new Omnimesh standards-based, smart metering solution.
John Cronin, CyanConnode Executive Chairman, commented: "We are pleased to announce a further order from L&T for a further 10,000 units of Optimal. L&T is one of the longest-standing partners of our global partner eco-system. Through collaboration, our proven technology and L&T's reliable metering equipment is continuing to build momentum in the Indian smart metering market."
However, just thinking of the historically difficult relationship between India and China with 2 wars being fought with India losing both and ongoing border skirmishes and aggressive political stance of China in the Doklam area recently....there may be a clear political and national security preference for "Make in India" players like L&T, Genus and HPL for critical infrastructure such as electricity, gas etc.
Re Chinese meter manufacturers - JC did tell me that CYAN are talking to 3 Chinese meter manufacturers, but I cannot recall the names and to be fair he struggled as well. 2 of the names sounded quite anglicised. However, this bit of conversation seemed more of a context to developments rather than an exciting development per se. So I have not really taken it into my considerations so far...
I'm not sure that India will abide by Trump's sanctions in the way the US administration would expect. I suspect that by not making additional investments in Iran already promised, India could attempt to appease the US rather than completely cutting off business ties with Iran as the US would like. I suppose Iran offers India petroleum at preferential rates and in non-US dollar currency. So the issue could be more complex than just what the all knowing and super intelligent
President imagines !!
Anyway, what will be, will be....we'll just have to wait and see.
Re cash position - The situation from an equity diluting fund raise has now been downgraded to a "possibility" rather than a "probability". Revenues expected to increase significantly in H2 and we have £2.8m cash and reduced monthly cash burn of around £650k - so gap not as massive as before. Also even if funds are required, various non-dilutional funding mechanisms including potential white label deal, banking arrangements are more feasible now.
Worth remembering that in line with the new remuneration package, JC and HB get their performance related stock only if annual revenues are at least £7m this year (forecast is £10m). So I am pretty confident that we will meet revenue of at least £7m by end Dec 2018.
Hopefully we have turned a corner - I believe we have :)
Not a single trade displayed as yet...though 0.75p increase in offer could indicate a largish buy order completed but yet to be announced.
School boy doubt re the contract announced this morning...
$780k contract with 50% revenue recognised this year - which works out to $390k this year
or
given it is a 10 year licence - should it be $390/10 yrs and therefore $39k this year ?
Good morning LTI and all :)
The Nordic regions are a definite bonus given the historical links with Connode. Their implementation timeframes and specifications allow us greater comfort in terms of revenue. So let's hope we get a bigger chunk of the 5m meters due to be upgraded.
Purchase order for smart metering in Sweden
RNS
RNS Number : 6630U
CyanConnode Holdings PLC
16 July 2018
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Purchase order for smart metering implementation in Sweden
CyanConnode, the world leader in narrowband radio mesh networks, announces receipt of a purchase order from HM Power for a smart metering implementation for a Swedish utility.
The purchase order, worth US$780,000, is part of a larger order for the supply of an IPv6-based solution based on perpetual software licenses and annual maintenance for an initial period of 10 years. Approximately 50% of the total order value, which will be recognised fully in the current financial year, relates to software licences which have been delivered. Roll out of the meters will commence in Q4 2018 following an initial 1,500-meter pilot in Q3 2018. As such, a large proportion of payment for the units is expected be recognised in the next financial year.
HM Power and CyanConnode have worked together for more than five years and in 2016 signed a license agreement for the distribution of CyanConnode products and services. The Swedish-based system integrator provides smart metering and smart grids solutions to many Swedish utilities supplying electricity meters integrated with CyanConnode's IPv6-based solution.
The majority of smart meters in Sweden were deployed during the first rollout, which ended in 20091. Last week, the Government Office of Sweden announced that the next generation of smart meters is now being introduced and must be in place by 01 January 2025. The new smart electricity meters will provide new functionality, such as hourly measurements, as well as support a user interface that enables customers to measure their consumption2. In total, approximately five million next generation meters will be installed3.
John Cronin, CyanConnode Executive Chairman, commented: "We are pleased to announce this latest order, further demonstrating the growing demand for standards-based solutions. HM Power is part of our global partner eco-system and our collaborative approach demonstrates the suitability of our technology to address evolving market requirements."
Hi Sxx-Pound Party,
I am heavily into LTG by PI standards and have been buying from the 30p range. This is a solid buy with much growth to come. If you go on the competitor adv..board, there is a fuller discussion there. Good luck whatever you choose to do.
Good morning !
Trading update for H1 2018 due anytime now (could be even today)....we have had about 5 weeks of PeopleFluent revenue + hopefully growth in the business which I am conservatively estimating at 30%. Revenues should be much higher in H2 2018 as the acquisition would be much better bedded in and we will have the full H2 effect.
I am hoping for H1 2018 of atleast £33.23m revenues with about £7.76m EBIT...anything over that would be an absolute bonus...and a push to a SP of £1.20+ would be on the cards...
Good luck all !
Daily Telegraph: Sunday, 15 July 2018, Page 22:
Article: Do smart meters need a mobile signal ?
"...the good news for people hoping to get accurate energy bills via a smart meter is that all meters will soon be enrolled into a dedicated wireless smart meters network....The new wireless smart meter network, operated by the Data and Communications Company (DCC) will cover more homes than are currently covered by 4G.."