Cyan Holdings Plc AGM Statement (7573J)

TIDMCYAN

RNS Number : 7573J

Cyan Holdings Plc

17 June 2014

Cyan Holdings plc

("Cyan" or the "Company")

AGM Statement

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, is holding its Annual General Meeting ("AGM") at 11 a.m. today and provides the following statement:

The Board of Cyan was delighted to announce its first order for commercial retrofit deployment in India today, as well as confirmation of the successful pilot in Brazil. Cyan now has multiple pilots deployed in India and Brazil, with both public and private entities of varying sizes, and other pilots waiting to be deployed. The pilots are mainly for Cyan's solution integrated into new smart meters rather than the retrofit product, although the retrofit product is receiving good interest from both India and Brazil. Whilst it is difficult to determine whether any of the Company's prospects and pilots will convert to meaningful orders, as stated in Cyan's annual results, local partners are reporting strong prospects to close opportunities during 2014. With today's news and developments seen in the market, the Cyan team remain highly motivated and confident.

Immediately following the AGM, the Company will give a short presentation to shareholders, a copy of which can be found on the Company's website at www.cyantechnology-ir.com/html/investors/presentations.asp.

Enquiries:

 
 Cyan Holdings plc                  www.cyantechnology.com 
 John Cronin, Chairman              Tel: +44 (0) 1954 234 400 
 Allenby Capital Limited 
  NOMAD and Joint Broker 
 Jeremy Porter / Michael McNeilly   Tel: +44 (0) 20 3328 5656 
 
  Hume Capital Securities plc 
  Joint Broker 
  Jon Belliss                        Tel: +44 (0) 20 7101 7070 
 Walbrook PR 
  Financial PR 
 Paul Cornelius                     Tel: +44(0) 20 7933 8780

About Cyan

Cyan is an integrated system design company based in Cambridge, UK. It provides a communication platform that enables the measurement and control of energy consumption for the metering and lighting markets, helping to reduce energy losses. Cyan's wireless mesh networking platform offers 'last mile' connectivity between millions of devices and enterprise software, supporting bilateral communications with the end customer. For more information, please visit www.cyantechnology.com.

About CyLec(R)

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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