CyanConnode Holdings PLC Change of Adviser (4297J)
27 April 2022 - 4:01PM
UK Regulatory
TIDMCYAN
RNS Number : 4297J
CyanConnode Holdings PLC
27 April 2022
27 April 2022
CyanConnode Holdings plc
(the "Company")
Appointment of Joint Broker and Change of Nominated Adviser
CyanConnode Holdings plc (AIM:CYAN.L), a world leader in
Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to
announce that it has appointed Cenkos Securities plc ("Cenkos") as
joint broker with immediate effect.
In addition, further to the announcements by Arden Partners Plc
on 11 and 14 April 2022 regarding the loss of its nominated adviser
status upon the completion of its recommended takeover, the Company
has also appointed Cenkos as its nominated adviser. Given the
timing of the completion of the recommended takeover of Arden
Partners Plc, the Exchange has agreed that subject to initial due
diligence being undertaken, Cenkos has until 5pm on 27 July 2022 to
complete its full due diligence.
There can be no guarantee on the outcome of the full due
diligence and its impact on Cenkos' decision to continue to act as
nominated adviser. Accordingly, in such circumstances there is a
risk that if Cenkos does not continue to act as nominated adviser
following completion of its full due diligence and the Company has
not found an alternative nominated adviser, the Company's AIM
securities may be suspended pursuant to AIM Rule 1. If within one
month of that suspension, the Company has failed to appoint a
replacement nominated adviser, the admission of its AIM securities
will be cancelled.
Notwithstanding the extension of time provided in respect of
completing full due diligence obligations at engagement, Cenkos
will continue to be subject to all the ongoing nominated adviser
responsibilities under the AIM Rules for Nominated Advisers.
For further information, please contact:
CyanConnode Holdings plc Tel: +44 (0) 1223
John Cronin, Executive Chairman 225 060
www.cyanconnode.com
Cenkos Securities plc - Nominated Tel: +44 (0) 207 397
Adviser and Joint Broker 8900
Stephen Keys/ Charlie Combe
Arden Partners plc - Joint Broker Tel: +44 (0) 20 7614
Simon Johnson 5900
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
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR.
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END
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