AGM Statement

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 Kenn Lamb CEO	Tel: [phone]
Cenkos Securities plc Nominated Adviser Stephen Keys / Adrian Hargrave	Tel: [phone]
XCAP Securities plc Joint Broker John Belliss / Parimal Kumar	Tel: [phone]
Hansard Communications Adam Reynolds / Guy McDougall / Nicholas Nelson	Tel: [phone]

 

END

 

 

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