**Summary**
CyanConnode Holdings PLC (AIMCYAN) announced on March 3, 2026, that it has received a revised non-binding proposal from Esyasoft Holding Ltd, a subsidiary of International Holding Company PJSC, for a possible all-cash offer to acquire the company. The revised proposal values CyanConnode at £37.5 million, or 10.44 pence per share, representing a significant premium of up to 67% over recent share prices. The board of CyanConnode has indicated it would recommend the offer to shareholders if a firm intention is announced, subject to agreeing on key terms and definitive documentation.
The proposal highlights the strategic relationship between CyanConnode and the Esyasoft Group, with approximately a quarter of CyanConnodes revenue in FY24 and FY25 coming from Esyasoft. The board believes the merger would create substantial commercial and strategic synergies, particularly in scale, capital support, and international expansion. The offer is subject to pre-conditions, including satisfactory due diligence, and may be implemented via a Scheme of Arrangement or a contractual offer.
This announcement is made under Rule 2.4 of the City Code on Takeovers and Mergers and does not constitute a firm offer. Shareholders are advised that the company remains in an Offer Period, and relevant disclosure requirements under the Code apply. The announcement also includes important notices regarding financial advisers, regulatory compliance, and jurisdictional restrictions.