AGM Statement (8304G)
May 18 2011 - 6:28AM
UK Regulatory
TIDMCYAN
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 28(th) 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 Tel: +44 (0) 1954 234 400
Kenn Lamb CEO
Cenkos Securities plc Tel: +44 (0)20 7397 8900
Nominated Adviser
Stephen Keys / Adrian
Hargrave
--------------------------
XCAP Securities plc Tel: +44 (0)20 7101 7070
Joint Broker
John Belliss / Parimal
Kumar
--------------------------
Hansard Communications Tel: +44 (0)20 7245 1100
Adam Reynolds / Guy McDougall
/ Nicholas Nelson
--------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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