22 May 2019 07:00
Catenae Innovation Plc: Company Update and Issue of Equity
CATENAE INNOVATION PLC("Catenae" or the "Company")
Company Update and Issue of Equity
Catenae (AIM: CTEA), the AIM quoted provider of digital media and technology is pleased to announce new contracts, changes to its senior Management team and an Issue of Equity.
New AgreementsOnSide is a centralised management tool specifically developed for sports organisations. It deals with all the key elements of community coaching from scheduling of staff and timesheet processing through to attendee management and reporting in a GDPR compliant platform.
Bradford City FC - The Company has entered into a proof of concept agreement with Bradford City FC Community Foundation (“Bradford”). It is anticipated that, on successful completion of the proof of concept, Bradford will convert the programme to a full agreement. A further announcement regarding this will be made in due course. This brings the number of Football and Rugby clubs who have entered into agreements with the Company to six with ongoing conversations with a number of others.
3rd Sector Charity – The Company has also entered into its first agreement for OnSide within a non-sports related charity sector. The charity has identified OnSide as providing the management and reporting functionality it requires to prove outcomes within its funding model. The requirement utilises the Mentor management module that was released in the most recent OnSide product update.
Appointment of Head of SalesThe Company is pleased to announce the appointment of Nick Delacamp as Head of Sales. Nick brings a wealth of experience building sales organisations to deliver sustainable annuity revenues at organisations such as BT Global Services. One of Nick’s first actions has been the appointment of a leading marketing partner to engage targeted organisations focussed upon the core sectors for the “OnSuite products” (i.e. OnSite, OnGuard and OnSide).
Issue of EquityThe Company has agreed to issue a total of 50,000,000 new ordinary shares of 0.1 pence per share in the Company at a price of 0.1 pence per share, settling £50,000 of creditor balances.
The 50,000,000 new ordinary shares will rank pari passu with the existing ordinary shares of Catenae. Application will be made for the 50,000,000 new ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 28 May 2019.
Following the issue, the Company will have in issue 3,223,601,652 Ordinary shares with voting rights. The above figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency rules.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Tony Sanders (Chief Executive Officer).
For further information:
| Catenae Innovation PlcTony Sanders | Tel: 020 7929 7826 |
| Cairn Financial Advisers LLP, Nominated AdviserLiam Murray / Jo Turner | Tel: 020 7213 0880 |
| Alexander David Securities Limited, Joint BrokerDavid Scott / James Dewhurst | Tel: 020 7448 9820 |
| Turner Pope Investments Limited, Joint Broker Andrew Thacker | Tel: 020 3621 4120 |