Catenae Innovation - Update
30/05/2022 07:00
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RNS Number : 1434N Catenae Innovation PLC 30 May 2022
Catenae Innovation PLC
("Catenae" or the "Company")
Update
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media
and technology, provides the following update.
Trading update
The Company has received a purchase order for £95,000 from an existing
customer to provide further digital technology solutions to the customer. It
is expected that at least half of this purchase order will be fully satisfied
in the current financial year.
Furthermore, an agreement has been renewed with another existing customer
securing in aggregate £19,000 of revenues, which the Company anticipates more
than half of the revenue will be recognised in the current financial year.
Hyperneph Software Limited ("Hyperneph")
Further to the announcement made on 17 May 2022, the Company advises that
Michelle Gurney has resigned as a director of Hyperneph, a 51% subsidiary of
the Company.
The Company continues to defend the claim made by certain minority
shareholders of Hyperneph. The Company will be making a counterclaim in due
course.
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 to 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.
There has been no material change in the Company's financial position since it
was last updated on 17 May 2022.
- 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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