(Alliance News) - Catenae Innovation PLC on Monday said its newly appointed marketing agency has converted GBP12,500 of credit with the company for services rendered.
The agency, Markops Ltd, will be issued 342,465 shares in digital media and technology services company Catenae at a 3.65 pence per share price.
Shares in Catenae were up 6.4% at 3.67p in London late Monday morning.
The issue of these shares is subject to approval at an annual general meeting. This AGM is scheduled to take place on September 25.
Following admission, Catenae's enlarged share capital will consist of 221.1 million shares.
Chief Executive Guy Meyer said: "We are pleased that our newly appointed marketing agency, Markops, has chosen to take a stake in the business, which highlights its confidence in the future prospects of the company and aligns itself with our strategy.
"The team at Markops is instrumental in the repositioning of Catenae's business and brand and is helping to inject value into our product set, as well as introducing the company to their corporate networks."
By Anna Farley; annafarley@alliancenews.com
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