REG - Catenai PLC - Klarian CLN Update

CatenaiAnnouncement

13/01/2025 10:45

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RNS Number : 0956T  Catenai PLC  13 January 2025

13 January 2025

Catenai PLC

 

("Catenai", or the "Company")

 

Klarian CLN Update

 

Catenai PLC (AIM: CTAI), the AIM quoted provider of digital media and
technology, announces that it has signed an addendum to the CLN with Klarian
Ltd ("Klarian"), a company in which Catenai provided a £450,000 unsecured
convertible loan note facility as per the announcement of 25 April 2024.

 

Given Klarian's ongoing negotiations with potential customers and other
investors, Klarian and Catenai have agreed to extend the redemption date of
the CLN from 31 December 2024 to 30 June 2025.

 

Klarian has raised $250,000 at a pre-money valuation of approximately £10
million from a single new investor who has significant industry experience.

 

The Company continues to carefully manage its working capital position.

 

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 John Farthing, Interim Chief
Executive Officer of the Company and the Directors of the Company are
responsible for the release of this announcement.

 

Capitalised terms used in this announcement shall, unless otherwise defined,
have the same meaning as set out in the announcement on 25 April 2024.

 

 

For further information please contact:

 

 Catenai PLC                                        +44 (0)20 7183 8666
 John Farthing, Interim Chief Executive Officer

 Cairn Financial Advisers LLP (Nominated Adviser)   +44 (0)20 7213 0880
 Liam Murray / Ludovico Lazzaretti / James Western

 Shard Capital Partners LLP (Broker)                +44 (0)20 7186 9952
 Damon Heath

Notes to Editors:

 

About Catenai PLC

Catenai is an AIM quoted provider of digital media and technology services.
The Company has an experienced IT team of project managers and integrators who
have deployed systems across corporate, government and educational sectors.

www.catenaiplc.com (http://www.catenaiplc.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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