Catenae Innovation - Company Update
02/09/2022 12:09
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RNS Number : 1349Y Catenae Innovation PLC 02 September 2022
Catenae Innovation PLC
("Catenae" or the "Company")
Company Update
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media
and technology, announces that, further to the announcement released by the
Company on 30 June 2022, the board of the Company currently expects that it
will be in a position, by 1 October 2022, to notify and publish its audited
final results for the year ended 30 September 2021 and its unaudited interim
results for the six-month period to 31 March 2022. The Company also provides
an update in relation to the ongoing claim made by certain minority
shareholders of Hyperneph Software Limited ("Hyperneph").
Suspension
The Company's shares were temporarily suspended from trading on AIM pursuant
to AIM Rule 41 with effect from 07:30 on 1 April 2022 as it was not in a
position to complete the audit of its financial statements for the year ended
30 September 2021. A company's shares can remain suspended up to 6 months from
the date of suspension, following which its shares would be cancelled from
trading on AIM.
Following the publishing and posting of both sets of accounts referred to
above by 1 October 2022, the Company expects that trading on AIM in the
Company's ordinary shares will be restored. There can be no certainty nor
guarantee that the Company will be able to meet the suspension deadline for
the publication of its audited full-year results or for its unaudited interim
results.
Hyperneph
Further to the announcement made on 30 June 2022, the Company has appointed
John Farthing, Chief Financial Officer of the Company, and Sherene Thompson,
spouse of Brian Thompson (Chairman of the Company), to the board of Hyperneph
with immediate effect. The Company continues to defend the claim made by
certain minority shareholders of Hyperneph and has submitted a counterclaim
for the amount of circa £290,000.
- Ends -
This announcement contains inside information for the purposes of the UK
Market Abuse Regulation. The person who arranged for release of this
announcement on behalf of the Company was Guy Meyer, Chief Executive Officer
of the Company and the Directors of the Company are responsible for the
release of this announcement.
For further information please contact:
Catenae Innovation PLC +44 (0)191 580 8545
Guy Meyer, Chief Executive Officer
Cairn Financial Advisers LLP (Nominated Adviser) +44 (0)20 7213 0880
Liam Murray / Jo Turner
Shard Capital Partners LLP (Broker) +44 (0)20 7186 9952
Damon Heath
Yellow Jersey PR (PR & IR) +44 (0)20 3004 9512
Sarah Hollins / Annabel Atkins / James Lingfield
Notes to Editors:
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media and technology
services. Catenae use the power of blockchain to deliver solutions where its
people-centric technology enables trust and certainty allowing organisations
to gain better control over their operations, manage staff and safely welcome
customers.
www.catenaeinnovation.com (http://www.catenaeinnovation.com)
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.
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