RE: i'm invested but looks doomed4 Oct 2019 04:00
Catenae (AIM: CTEA), the AIM-quoted provider of digital media and technology, is pleased to announce a placing and subscription for a total of 575,000,000 new ordinary shares of 0.10 pence per share in the Company at a price of 0.10 pence per share (“Placing Shares”) for gross proceeds of £575,000 (“the Placing”).
The Placing Shares have been issued at the prevailing market mid-price and the Placing includes further investment from an existing institutional investor to maintain its percentage holding.
Certain directors and senior managers have participated in the Placing, which is a related party transaction, further details of which is set out below.
Issue of Warrants
The Company is also issuing one warrant for every one Placing Share issued at an exercise price of 0.125p which may be exercised up to three years from the date of issue. If exercised, the warrant holder will be entitled to receive a further warrant exercisable at 0.15p which may be exercised for a further two-year period (together, the "Placing Warrants").
The Placing Warrants will not be listed and will be part-issued (approximately 50 per cent.) on Admission of the Placing Shares and part subject to approval of authorities being granted at an Extraordinary General Meeting, notice of which is provided supplementary to this statement.
** last placing was at almost 10x todays value and taken up by ii and directors.
Venkata Ramesh Para owns over 15% of the company and has paid 10x todays value.
Trading update rns confirms the company will be secure long term, just got to have some patience here and it anyone can add at current prices they should do as when news lands, this will explode to life. GL all