CyanConnode Holdings (AIM:CYAN), the AIM-listed smart metering technology company, has secured a Takeover Panel-approved extension to the deadline by which suitor Esyasoft must either announce a firm intention to make an offer or walk away.
Esyasoft's put-up-or-shut-up (PUSU) deadline, which fell on 23 June, has been pushed to 5.00 p.m. on 21 July following a request from CyanConnode's board.
The extension reflects the status of Esyasoft's confirmatory due diligence, which the announcement describes as ongoing but at an advanced stage, with the parties working through the final remaining elements.
No financial terms for any possible offer have been disclosed, and CyanConnode explicitly cautions that there is no certainty a firm offer will be made.
The 21 July deadline can itself be extended with further Takeover Panel consent.
