REG - Catenai PLC - Klarian update

CatenaiAnnouncement

28/10/2024 07:00

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RNS Number : 7711J  Catenai PLC  28 October 2024

28 October 2024

Catenai PLC

 

("Catenai", the "Company")

 

Klarian update

 

Catenai PLC (AIM: CTAI), the AIM quoted provider of digital media and
technology, provides an update on Klarian Ltd ("Klarian"), a company in which
Catenai had provided a £450,000 unsecured convertible loan note facility
("CLN") as per the announcement 25 April 2024.

 

In the last couple of months, Klarian has raised approximately £660,000 at a
pre-money valuation of approximately £10 million.  Part of this was raised
on its recent successful Crowd Cube campaign which brought new shareholders to
Klarian.

 

Klarian has advised that a significant shareholder, Mr Donald Ross, is
expected to shortly be joining its board as a Non-Executive Director.  Mr
Ross invested in the recent round.  Mr Ross was a senior VP at SLB
(Schlumberger) (NYSE:SLB) which is a global technology company.

 

The CEO of Klarian, Rob Clegg, commented "We are delighted that Donald is
joining our board following this recent fundraise. He brings great experience
in the oil sector which will compliment our existing experience in the water
sector as well as pipelines generally.  Klarian is now poised for significant
growth in 2025."

 

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.

 

 

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 / Jo Turner

 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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