CyanConnode Holdings Plc bags new order Smart Metering Solution in Thailand

  • Dec 30, 2019 GMT
  • Team Kalkine
CyanConnode Holdings Plc (LON: CYAN) has reported a new order for Smart Metering Solution in Thailand.
  • The company has stated that its Distributor and Technology Partner, The JST Group has given an order for 33,000 units.
  • Thailand is new territory for the company, and the end customer is a Thai state enterprise under the Ministry of Interior- Metropolitan Electricity Authority.
  • The company, as part of the contract will receive an upfront payment at the time of the order of around $0.4 million, around 25 per cent of the contract value.
  • On successful deployment, the 33,000 units are expected to extend to a further 200,000 units.
  • On 30th December 2019, at the time of writing, GMT 08:03 AM, CYAN shares were trading at GBX 2.40, up by 0.30 points or 14.29% against the previous day closing price.

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