Cyanconnode Regulatory News (CYAN)

24 Jan 2008 07:00

Cyan Holdings Plc24 January 2008 Press Release 24 January 2008 Cyan Holdings Plc ("Cyan" or "the Group") Pre-Close Trading Update & Notice of Results Cyan (AIM: CYAN.L), a fables semiconductor company providing configurableapplication software and production ready modules based on feature rich, lowpower, microcontroller chips, today announces an update prior to entering intoits close period ahead of the publication of its preliminary results for thetwelve months ended 31 December 2007. These results will be announced onThursday, 27 March 2008. Since the publication of the Group's interim results in September 2007, tradinghas remained in line with the Directors' expectations. The Board considersthat the Group has continued to make solid progress in implementing the newstrategic business plan outlined at the time of the fundraising in July 2007. Key points: • All target restructuring activities have been completed either on or ahead of expectations, these include: • a completely new European sales team, • the creation and recruitment of an experienced operations team, • expansion of the marketing team, • significant investment in expanding the software development team and • a restructured Board of Directors. • For Western markets, Cyan has a new market positioning focused on end applications not just MCUs. Cyan now offers user customisable application solutions and not simply components to be used by customers in their designs. Cyan aims to compete at the application level and looks to establish new partnerships to develop application solutions incorporating its microcontroller. • For Asian markets, Cyan has a new entry level product which was released for new designs in Asia earlier this month. This device is less than half the cost of the previous lowest priced Cyan MCU and is pin and functionally compatible with a completely new device to be manufactured by a new foundry partner. In summary, the Group is pleased to announce that the first phase of theturnaround plan has been completed on schedule and Cyan enters 2008 havingalready started on the second phase of the plan in which the Board expects toannounce new product launches and to see early stage sales for products alreadyreleased to the market. For further information:Cyan Holdings plcKenn Lamb, CEO Tel: +44 (0) 1954 234 400Andrew Lee, Finance Director www.cyantechnology.comCollins Stewart Europe LimitedChris Howard / Oliver Quarmby Tel: +44 (0) 20 7523 8350Corporate Finance www.collins-stewart.com Abchurch CommunicationsHeather Salmond/ Franziska Boehnke Tel: +44 (0) 20 7398 7700franziska.boehnke@abchurch-group.com www.abchurch-group.com Notes to Editors Based in Cambridge in the UK, Cyan Holdings plc is a fabless semiconductorcompany specializing in the development of applications solutions collectivelyknown as "Cy Solved(TM)" which are built upon the company's low powered,configurable eCOG1k and eCOG1x microcontroller chips. Cy-Solved incorporates ready to go solutions, software stacks, applicationsexamples, modular software based on easy to use APIs, evaluation boards andproduction hardware modules from partners, all pulled together through Cyan'sfree integrated development environment CyanIDE(TM). Cy-Solved can beincorporated as-is into an application but also supports an ability to be easilycustomised - either way, giving users a head start on the road to market.Currently available Cy-Solved applications include RF-Solved, USB-Solved,Ethernet-Solved and Motor Control-Solved. The Company was founded in 2002 and listed on AIM in 2005 Cyan Holdings plcoperates through the brand 'Cyan'. Website: http://www.cyantechnology.com This information is provided by RNS The company news service from the London Stock Exchange