Catenae Innovation PLC - Newcastle-based digital media technology firm - Raises GBP1 million through the placing of 50 million shares at 2.0 pence each.
Issues a further 2.4 million shares at the same price; with the conversion of GBP13,000 of remuneration liabilities to certain directors into 650,000 new shares, and the settlement of other liabilities totalling GBP35,000 into 1.8 million new shares.
Catenae says it will use the new cash to enhance its proprietary technology capabilities, build upon its business development strategy and for general working capital.
Separately, the company highlights that its Covid-19 testing platform - in which it records and feeds results into Public Health England's database for use by the NHS' Test and Trace service - continues to be deployed by companies across a range of sectors including a major UK mobile operator, Badminton England, a festive season outdoor event and 18 pharmacies.
Current stock price: 2.20 pence; down 14% Wednesday
Year-to-date change: down 12%
By Ife Taiwo; ifetaiwo@alliancenews.com
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