Pre-Close Trading Update
January 24 2008 - 2:01AM
UK Regulatory
RNS Number:4100M
Cyan Holdings Plc
24 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 configurable
application software and production ready modules based on feature rich, low
power, microcontroller chips, today announces an update prior to entering into
its close period ahead of the publication of its preliminary results for the
twelve months ended 31 December 2007. These results will be announced on
Thursday, 27 March 2008.
Since the publication of the Group's interim results in September 2007, trading
has remained in line with the Directors' expectations. The Board considers
that the Group has continued to make solid progress in implementing the new
strategic 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 the
turnaround plan has been completed on schedule and Cyan enters 2008 having
already started on the second phase of the plan in which the Board expects to
announce new product launches and to see early stage sales for products already
released to the market.
For further information:
Cyan Holdings plc
Kenn Lamb, CEO Tel: +44 (0) 1954 234 400
Andrew Lee, Finance Director
www.cyantechnology.com
Collins Stewart Europe Limited
Chris Howard / Oliver Quarmby Tel: +44 (0) 20 7523 8350
Corporate Finance
www.collins-stewart.com
Abchurch Communications
Heather Salmond/ Franziska Boehnke Tel: +44 (0) 20 7398 7700
franziska.boehnke@abchurch-group.com www.abchurch-group.com
Notes to Editors
Based in Cambridge in the UK, Cyan Holdings plc is a fabless semiconductor
company specializing in the development of applications solutions collectively
known 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, applications
examples, modular software based on easy to use APIs, evaluation boards and
production hardware modules from partners, all pulled together through Cyan's
free integrated development environment CyanIDE(TM). Cy-Solved can be
incorporated as-is into an application but also supports an ability to be easily
customised - 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 plc
operates through the brand 'Cyan'.
Website: http://www.cyantechnology.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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