REG - Catenai PLC - Proposed Issue of Warrants

CatenaiAnnouncement

06/05/2025 10:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250506:nRSF4997Ha&default-theme=true

RNS Number : 4997H  Catenai PLC  06 May 2025

6 May 2025

 

Catenai PLC

 

("Catenai" or the "Company")

 

Proposed Issue of Warrants

 

Catenai PLC (AIM: CTAI), the AIM quoted provider of digital media and
technology, announces that the Company has agreed to issue Sarfraz Munshi,
Non-Executive Director of the Company, warrants over 42,500,000 new ordinary
shares in the Company ("Warrants") in lieu of director remuneration. The
Warrants have an exercise price of 0.35 pence per share (being a 16.7 per
cent. discount to the mid-market closing price on 2 May 2025) and can be
exercised for a period of 18 months from the date of grant.

 

The Warrants are conditional on the Company receiving shareholder approval of
sufficient allotment authorities at the forthcoming annual general meeting.

 

The Company has carefully managed its cash position, and as such, Sarfraz
Munshi has not taken a salary since his appointment as Non-Executive Director
in March 2024. Mr Munshi has spent significant time on the Company's affairs,
far greater than that expected of a non-executive director, since his
appointment. Mr Munshi has agreed to forgo remuneration owed to him for the
last 12 months. More importantly, this proposed issue of Warrants would align
his interests with that of shareholders in the Company.

 

 

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/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 specialises in IT solutions that solve commercial challenges and
create opportunities for its clients, with an increasing focus incorporating
AI into its platforms. The Company has an experienced IT team of project
managers and integrators who have deployed systems across corporate,
government and educational sectors.

 

http://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.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFZGGKLVDGKZG