Catenae Innovation - Trading Update
21/02/2023 14:11
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RNS Number : 6088Q Catenae Innovation PLC 21 February 2023
21 February 2023
Catenae Innovation PLC
("Catenae", the "Company" or the "Group")
Trading update
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media
and technology, provides the following trading update.
Trading update
On 9 August 2021, the Company announced that it had received an order from
Shetland Space Centre Limited ("SaxaVord"), a satellite launch site and ground
station in Unst, Shetland, as part of a three phase project to deliver a
digital dashboard solution to enable SaxaVord to monitor live satellite
operations remotely from anywhere in the world.
On 30 May 2022, the next phase was announced and the Company received a
purchase order for £95,000. The first half of the payment in relation to the
order was received in July 2022. The whole contract was fulfilled in December
2022 and the Company subsequently received the contract balance payment in
February 2023 which has been recognised as revenue in the second half of the
prior financial year, as previously anticipated in the announcement of 30
September 2022.
Guy Meyer, Chief Executive Officer of Catenae, said:
"I am pleased that the Company successfully delivered this technology contract
to SaxaVord, who are one of the UK's leaders in the race to launch satellites
into space. The project involves developing bespoke technology solutions to
allow SaxaVord to better monitor low earth orbiting satellites from their
location in Unst."
"We look forward to keeping the market updated with any future news."
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
Notes to Editors:
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media and technology
services. The Company specialises in Distributed Ledger Technology solutions
that solve commercial challenges and create opportunities for its clients. The
Company has an experienced IT team of project managers and integrators who
have deployed systems across corporate, government and educational sectors.
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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