Cyan Holdings Plc Update on TNEB Tender
October 22 2012 - 2:00AM
RNS Non-Regulatory
TIDMCYAN
Cyan Holdings Plc
22 October 2012
22 October 2012
Cyan Holdings plc
("Cyan" or the "Company")
Update on TNEB Tender
Cyan Holdings plc (AIM:CYAN.L), the integrated system and
software design company delivering mesh based flexible wireless
solutions for utility metering and lighting control today gives
further information regarding the progress of the Tamil Nadu
Electricity Board (TNEB) Automatic Meter Reading (AMR) tender.
The four Cyan meter manufacturer partners have now completed the
installation and commissioning of their pilots in Trichy
(Tiruchchirappalli), in the state of Tamil Nadu. The installations
demonstrate Cyan's interoperable solution, CyLec(R).
Over the last week, Cyan personnel have actively participated in
the first on-site evaluations with TNEB officials as well as
attending a subsequent review meeting. Cyan has been informed that
of the sixteen companies that formally submitted samples and bids
on this tender, only six have deployed pilots and the Cyan partners
are the ones offering an interoperable solution.
Cyan has also been informed that the next stage in the tender
attribution process will be "Price Bid Opening". This is where the
sealed bids of the meter manufacturers who have deployed pilots
will be opened in a meeting at TNEB in front of the participants
and the selection of the meter manufacturers to fulfil the tender
will start. Cyan expects to start receiving the first orders for
delivery of product as soon as this next step is completed.
John Cronin, Executive Chairman of Cyan commented: "We are
pleased that CyLec has been successfully demonstrated to TNEB and
remain confident of our competitive position on this tender. I look
forward to providing Cyan's shareholders with a further update
shortly."
Cyan Holdings plc Tel: +44 (0) 1954 234 400
John Cronin, Executive Chairman
www.cyantechnology.com
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Cenkos Securities plc Tel: +44 (0)20 7397 8900
NOMAD and Joint Broker
Stephen Keys / Adrian Hargrave
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XCAP Securities plc Tel: +44 (0)20 7101 7070
Joint Broker
Jon Belliss / Adrian Kirk
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Newgate Threadneedle Tel: +44 (0)20 7653 9850
Financial PR
Caroline Evans-Jones / Guy McDougall
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About Cyan
Cyan is an integrated system design company delivering mesh
based flexible wireless solutions for utility metering, lighting
control & industrial telemetry. For more information, please
visit www.cyantechnology.com.
About CyLec
CyLec is a complete control and communication network for
electricity metering. CyLec uses wireless technology to enable the
collection and delivery of data from and to a meter, such as energy
profiles, instant readings and the sending of tariff updates.
Priority data can also be sent back to the utilities such as
information regarding tampering enabling the utility to take action
immediately.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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