12 May 2025
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Letter of Award for GOA Contract
CyanConnode Holdings PLC (AIM: CYAN), a global provider of IoT communication and smart metering solutions, is pleased to confirm that, further to its announcement on 14 April 2025 regarding the Government of Goa's Electricity Department's intention to award a contract worth approximately £70 million to its Indian subsidiary, DigiSmart Networks Pvt. Ltd., it has now received a formal Letter of Award by the Government of Goa's Electricity Department for this contract, to deploy approximately 750,000 smart meters.
This confirms the contract award and the next step is for a formal work order to be issued, after which the project will commence.
- Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 865 750
John Cronin, Group Chief Executive Officer
www.cyanconnode.com
Strand Hanson Limited (Nominated and Financial Adviser) Tel: +44 (0) 20 7409 3494
James Harris, Richard Johnson, David Asquith
Zeus Capital Limited (Joint Broker) Tel: +44 (0) 20 3829 5000
Simon Johnson, Louisa Waddell
Panmure Liberum (Joint Broker) Tel: +44 (0) 20 7886 2500
Rupert Dearden / James Sinclair-Ford
Novella (Financial PR) Tel: +44 (0) 20 3151 7008
Tim Robertson / Safia Colebrook
About CyanConnode
CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, which are used for machine to machine (M2M) communication. As well as being self-forming and self-healing, CyanConnode's RF Smart Mesh Networks are designed for rapid deployment, whilst giving exceptional performance and competitive total cost of ownership.
In June 2018, CyanConnode launched its award-winning Omnimesh Advanced Metering Infrastructure (AMI) platform, which has already gained considerable commercial traction, especially in India which is a key market for the Company.
Through a Global partner eco-system, which is vendor agnostic, CyanConnode has several routes to market, therefore it is well positioned to capitalise upon increasing Global demand for smart metering solutions.
For more information, please visit www.cyanconnode.com