26th Apr 2007 07:03
Cyan Holdings Plc26 April 2007 Press Release 26 April 2007 Cyan Holdings Plc ("Cyan" or "the Company") China - Electronic Tax collection Cyan Holdings plc, (AIM: CYAN.L), the fabless semiconductor company specialisingin the development of low powered, configurable microcontroller chips, wouldlike to inform investors that on the 16 April 2007 at 'The 7th conference andexhibition of Electronic Tax collection', organised by the Chinese TaxationInstitute, the Director General of the State Administration of Taxation,announced in his opening speech: "2007 will be the first year to carry through implementation for the projectGold Tax Engineering Phase 3" To the best of our knowledge this is the first announcement of theimplementation of Phase 3 which envisages roll out of tax control terminalsstarting in 2007. Given the delays on this project to date this is a positive announcement of thestart of the final phase of this program commencing deployment of Tax Controlterminals. In recognition of the importance of this business to Cyan, Kenn Lamb and PaulJohnson will extend their scheduled visit to China in May to identify theimplications of this announcement for the Company. - Ends - For further information:Cyan Holdings plcKenn Lamb, CEO Tel: +44 (0) 1954 234 400Andrew Lee, Finance Director www.cyantechnology.com Media enquiries:Abchurch CommunicationsHeather Salmond/ Franziska Boehnke Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to Editors Cyan Holdings plc is a fabless semiconductor company which specialises in thedesign, sale and support of a range of 16-bit and 32-bit general-purpose lowpower, high performance microcontroller chips ("MCUs"). These chips areintegral components used in nearly all electronic products, ranging from mobilephones and washing machines to toys, televisions and motorcars. Consumerentertainment markets require more powerful processors and are usually based on32-bit chips which Cyan is developing to serve this market segment. Cyanoperates in a $14 billion worldwide market for microcontrollers, which is poisedto grow to $20 billion by 2010. Cyan has identified Europe and South East Asiaas the largest markets for its products, and as such aims to have 1% of themicrocontroller market within 5 years. Originally Cyan was a spin out from Cambridge Consultants Limited to use its16-bit core, the same core used in CSR's Bluetooth chips. Since Cyan wasfounded in 2002, it has achieved 100 design wins for its initial eCOG1(R)kproduct and is expanding the range of the patent-protected eCOG1(R) family andintroducing a new range of 32 bit microcontrollers. Cyan has introduced design integration support software, CyanIDE(R), to supportthe Company's entire range of current and future microcontrollers. The softwaremakes chip integration into customers' products vastly more simple, quick,reliable and hence less expensive while dramatically reducing development time.Cyan created CyanIDE(R) to avoid relying on standard tools from third partysuppliers. The company is headquartered in Cambridge, UK and opened a sales and technicalsupport office in Hong Kong in May 2005 which services the Chinese market. Cyanemploys 40 people. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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