Member Info for Safety1

The 5:1 new LRES shares have now appeared in my trading account but the 1:1 LOGP Preference shares haven't yet materialised. Is there a delay on issuing the Preference shares to existing LOGP holders ?

Economic Times - 25th May 2026

Adani, GMR among shortlisted bidders for $400 million IntelliSmart deal.

THE GOAN - 25th May 2026

Congress demands rollback of smart meter project, calls it 'Rs 890 crore scam'.

Tamil Nadu State election results announced today. Completion should pave the way for the TN smart meter project(s) to progress.

PFC invited tenders for 1.25 lakh smart meters to be installed in

Chennai, Kancheepuram, Villupuram, and Tiruvannamalai.

The bid/tender opening date was planned for March 16, 2026. Estimated Cost: Approx. ₹112.50 crore (or £8 million pound).

27th April 2026

Smart power meter users in Goa to get prepaid option

Cyanconnode:

India’s new smart-meter draft rules make rollout easier to execute

Looking at google street view.....the positive is that the Tonca-Inez neighbourhood is a residential area. Appears to be a predominantly low-rise archetype of flats in the neighbourhood, so can likely assume that domestic installation has commenced.

Smart meter rollout sparks resistance from consumers

Residents protest ‘no-consultation’ installations.

"On Wednesday, people from a housing society in Tonca–St Inez strongly opposed the installation of smart meters. The vendor’s team, Digi Smart Network Pvt Ltd, Jaipur, had to leave the site after tensions rose".

If we consider the report provided to Goa State Legislative Assembly in March to be up-to-date, then its the Goa Electrical Department which is the sole reason for the delay on industrial, commercial & domestic meters; with the report stating "Awaiting clearance from GED". Why?.... is the 70 million dollar question.

Interesting use of Schneider as one of the 2 meter suppliers.

Goa State Legislative Assembly

Annex B - status of smart meter installation - unknown date of document

Feeder meters

Quantity = 827 - Installation completed Jan 2026

DTR meters

Quantity = 8369 - Circa 1300 installations per month. Planned completion by Jul 2026

Industrial consumer (Awaiting clearance from GED) = 11517 - circa 576 installations per month. Planned completion by Aug 2027.

Commercial & Domestic consumer (Awaiting clearance from GED) = 729643

Installations planned

10000 in Jan 2026

29643 in Feb 2026

30000 per month Mar - May 2026

40000 per month thereafter to Aug 2027

The work order is placed on M/s DigiSmart Networks Pvt Ltd. (AMISP), Jaipur, Rajasthan for an amount of Rs.890,11,97,693/- for installation of 7,50,356nos. of Smart Meters. The payment to AMISP will be carried out over a period of 93 months on a per meter per month basis.

M/s DigiSmart Network Pvt Ltd has appointed M/s Schneider Electric India Pvt. Ltd., Mysore, Karnataka and M/s Esyasoft Landis & Gyr Ltd, Kolkata, West Bengal for supply of smart meters.

Response to questions. Figures are slightly different to Annex B

The target fixed for the installation of Smart Meters is 7,50,356 nos. to be completed by August 2027 in phase manner,1) Substation Feeders – 827 Nos.2) DT Meters – 8,369 Nos.3) Government premises - 12,392 Nos.4) Industrial Consumers – 6224 Nos.(b)the technical features and specifications of the smart meters being installed, including whether they support prepaid and post-paid modes, remote disconnection/reconnection, time-of-day metering, load monitoring and communication to consumers;data (c) whether the smart meters support or enable dynamic or time-of-day pricing, and if so, whether such pricing has already been implemented for industrial or commercial consumers in the State;5) Commercial / Domestic Consumer -7,22,544 Nos.

Questions for Goa State Legislative Assembly - sitting 13/03/2026

Will the Minister for Power be pleased to state:

a. whether the Smart Meter installation project has commenced, given that the ATR records only Cabinet approval and pending LOI issuance;

b. the total financial liability and PPP contractual obligations proposed.

Also....

Will the Minister for Power be pleased to state:

a. the full details of the tender(s) issued for supply, installation, commissioning and operation of smart/prepaid electricity meters in Goa, including; date(s) of tender publication, cancellation (if any) and final award; names of all bidders/consortia that participated; their quoted amounts (techno-commercial and financial bids); the estimated cost put to tender; the final contract value awarded the successful bidder (M/s DigiSmart Networks Pvt Ltd, Jaipur or any other) and its consortium partners; the payment model (OPEX/AMISP, per-meter-per-month over 93 months, etc.);  any comparative statement of rates submitted to the Assembly or JERC;

b. the detailed phased plan for installation of the total smart prepaid meters, including the constituency-wise schedule, number of meters per constituency, priority (commercial first, then industrial, then domestic, etc.), and the target completion date (August 2027 or otherwise).

History of Hardmans Fair Equitable Value for CC from their reports...

£84.3m - 16/07/2021

£89.6m - 20/10/2021

£91.4m - 11/04/2022

£63.7m - 03/10/2022

£96.8m - 21/03/2023

In a legal context, the figures are normally used to ensure a "fair" outcome between specific, often opposing parties, such as in shareholder disputes or when one party has a special interest

Options / awards granted under the share plans of CyanConnode Holdings plc held by the directors, their close relatives and related trusts were contained in the 5th March RNS with various expiry dates ranging from 2027 - 2033 & exercise prices in the general range of 0.10 - 0.17; admittedly with a few spurious prices that are unlikely to be realised. There are 5 individuals named, all linked to the Board.

Three tranches issued in 2024 were issued with the caveat that these unvested options include provisions accelerating vesting on a change of control.

It was highlighted that JC re-posted a comment from a guy from S3 Global late last week on his LinkedIn In account. The post was soon deleted following speculation that the individual was actively involved in the current acquisition process. An uncanny co-incidence perhaps; (& somewhat similar to the "Project Ruby response" deletion on the CC website a month or so ago after it being highlighted).

Someone might conclude that S3 chap is actively involved and also that JC or someone close actively reads these forums....surely not.

Genus we're prevented from bidding in the Goa Amisp contract against Digismart due to high failure rate of the meters they installed in their pilot project in the state. This decision was later overturned in an Indian court but presumably too late to enter the tender so Genus aren't all the singing & dancing solution they're considered to be. See the Jan 2026 Goa Legislative State Authority meeting minutes as its in there.

Because of the history, my guess is J Stamp will be closely aligned with the Board and that he has a significant %. Likewise, members of a board of directors can vote in a company takeover if they own shares, as they hold the same rights as other shareholders. However, they must act in the company's best interests, and their dual role may raise conflicts of interest or entrenchment. So, that could possibly be a significant % if they are aligned. I take it that any vote on the matter is anonymous, so E/S would only see the end result ?

Regarding JCs recent Linked In post liking the comment from the SSS finance chap. I'd hazard a guess that the guy is on the ES team undertaking due diligence on CC. Hes not liked / reposted him before. Could it be a case of keeping your friends close & your enemies much closer? I'd like to think so.

I seem to remember J Stamp / JST holdings having a couple of large tranches of shares a few years back....through Biggles & another vehicle and think both holdings fell below the 3% levels diue to several share dilutions. Would be interesting to know if the new tranches of shares includes those holding or is separate to those.

Stamp does carry some influence with our Board. Pretty sure it was on his say that Smithy (previous CFO) got pushed under the bus.

The post he liked was from the Corporate Finance Manager at S3 Global (SSS)....M&A division maybe ?

I'd suggest its an ill-timed / I'll informed like !!

Three days ago JC "liked" & reposted the following post on his LinkedIn account from another person. Make of it what you will but iits content is bizarrely timed considering whats currently ongoing in his own company..unless it's some sort of subliminal message ?

I recently attended a two-day workshop on Business Valuation by Prof. Aswath Damodaran on 2nd and 3rd February at Le Méridien, Dubai.

A valuable learning experience from the Guru of Valuation, deepening my understanding of valuation frameworks, key value drivers, and the importance of aligning the story with the numbers behind every valuation.