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EQS-News News vom 16.07.2021

Hardman & Co Research: CyanConnode (CYAN): Further contract award in Thailand

Hardman & Co Research
16-Jul-2021 / 17:00 GMT/BST

Hardman & Co Research: Further contract award in Thailand

CyanConnode has announced a significant additional order in Thailand, securing a follow-on order for 31,000 smart meter modules and gateways. Substantial further orders are expected in Thailand, where the end customer is the second-largest state-owned utility company. Recent news flow from CyanConnode has been strong, including a heavily over-subscribed £3m fundraising in June 2021 and a major MOU with Intellismart, a key entity in the Indian smart meter deployment programme.  Our DCF-based implied equity fair value for CyanConnode is £84.3m (£0.38 per share).

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About Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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