CyanConnode Holdings Plc receives new order for Smart Metering project in India

  • Jan 06, 2020 GMT
  • Team Kalkine
CyanConnode Holdings Plc (LON: CYAN) has received a new order for Smart Metering project in India.
  • The company has received the formal purchase order relating to the Letter of Intent (LOI), which was received on 16 December 2019 from its Indian partner Genus Power Infrastructures Limited.
  • The purchase order is worth £3.3 million and includes a full set of terms and conditions under which the project will be implemented.
  • As per the terms of the contract, the company will provide AMI (Advanced Metering Infrastructure) standards-based hardware, services, and head-end software. It also includes a continual license and an AMC (annual maintenance contract).
  • On 6th January 2020, at the time of writing, GMT 08:12 AM, CYAN shares were trading at GBX 3.35, up by 0.38 points or 12.61% against the previous day closing price.

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