Cyan Holdings Plc (AIM:CYAN.L), the fabless semiconductor company specialising in the development of low powered, configurable microcontroller chips, announces its Interim Results for the six months to 30 June 2007.
Highlights
- Continued implementation of new strategy
- Established new partnership in Europe with Adaptive Modules ahead of expectations
- First production order received from China Telecom
- Currently developing new product designed specifically for the Chinese market
- Successful placing in July, raising £5 million net at a premium
Commenting on the results, Kenn Lamb, Chief Executive of Cyan, said: "The Board is very pleased with the progress which has been made since embarking on the new strategy, clarifying the Group's position in each of its key geographic markets. By adopting a local approach to each region, Cyan will be able to address the needs and demands of each market individually, making its technology a much more appealing proposition.
"We are delighted with the great support we have received from our shareholders through the process of restructuring the Group and at our recent Placing. The proceeds of the Placing will facilitate Cyan's growth, enabling the Board to drive the Group forward and build its future as an innovative semiconductor company."
The full results are available to view and download in PDF format.
For further information, please contact:
| Cyan Holdings plc | |
| Kenn Lamb, CEO Andrew Lee, Finance Director |
Tel: +44 (0) 1954 234 400 |
| www.cyantechnology.com | |
| Collins Stewart Europe Limited | |
| Chris Howard / Oliver Quarmby | Tel: +44 (0) 20 7523 8350 |
| Corporate Finance | www.collins-stewart.com |
Media enquiries:
| Abchurch Communications | |
| Heather Salmond / Franziska Boehnke / Joanne Shears | Tel: +44 (0) 20 7398 7700 |
| franziska.boehnke@abchurch-group.com | www.abchurch-group.com |