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AGM Statement

18 May 2011 11:28

RNS Number : 8304G
Cyan Holdings Plc
18 May 2011
 



18 May 2011

Cyan plc

("Cyan" or "the Company")

 

AGM Statement

 

 

At today's AGM of Cyan (AIM:CYAN), the integrated system design company delivering mesh based flexible wireless solutions for lighting control, utility metering and industrial telemetry, Kenn Lamb, CEO made the following statement:

 

"The progress that we reported at the time of our preliminary results on 28th March continues unabated. The upswing in order enquiries continues and we now see substantial momentum in our lighting control business.

 

"Accordingly, we remain convinced that this year will be the major turning point following two years of trials and product development by the Company. Since March we have announced another initial order for 10,000 units of CyLux taking the company into lighting on gas and oil installations in India and the Middle East.CyLux, our wireless lighting control system is proving popular and easy to integrate into a wide range of lights.

 

"In addition, the Company received the first order for a CyLux installation in Europe, where CyLux controlled LED lighting is to be installed into a road tunnel in Italy.

 

"In common with prior lighting order announcements these represent initial orders for initial projects with the expectation of follow on orders to satisfy the total requirement of the initial project as well and new projects from these customers. Initial orders, therefore, represent a small fraction of the much larger opportunity with each new customer.

 

"Cyan now has an established foothold in lighting control markets where energy saving is a powerful market driver and ROI periods are short. The board looks forward to the year ahead with confidence."

 

All resolutions put to shareholders were duly passed.

 

www.cyantechnology.com

 

Enquiries

 

Cyan Holdings plc

Kenn Lamb CEO

 

Tel: +44 (0) 1954 234 400

Cenkos Securities plc

Nominated Adviser

Stephen Keys / Adrian Hargrave

 

Tel: +44 (0)20 7397 8900

 

XCAP Securities plc

Joint Broker

John Belliss / Parimal Kumar

 

Tel: +44 (0)20 7101 7070

 

Hansard Communications

Adam Reynolds / Guy McDougall / Nicholas Nelson

Tel: +44 (0)20 7245 1100

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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