CTEA.L Regulatory News (CTEA)

24 Jan 2019 07:00

CATENAE INNOVATION PLC("Catenae" or the "Company")

Company Update

Catenae (AIM: CTEA), the AIM quoted provider of digital media and technology announces the following changes to its senior Management team and Board.

Proposed appointment of Alan Simpson CTO to the Executive BoardAlan is a highly regarded technologist with vast experience in a number of high-profile projects in a career ranging from Military Cryptologist through to those projects which can be publicly named such as being the Technical Delivery Manager for BBC's flagship iPlayer project. Alan joined the Company in June 2018 and has been responsible for the delivery of technical projects within the Company including Sequestrum, its DLT/Blockchain platform, and the recently launched Onsite. This appointment recognises the contribution and commitment Alan has shown to the Company. This, combined with his broad technical expertise, and commercial experience will be a welcome addition to the Board. A further announcement providing information pursuant to AIM Rule Schedule 2(g) will be made in due course.

Appointment of John Farthing Chief Financial OfficerThe Company will promote John Farthing from his current position within its subsidiary Trust in Media to become the Company’s Chief Financial Officer. John qualified as a Chartered Accountant in 1988 following which he moved to stockbroking, gaining significant experience with start-ups and smaller companies with a focus in the software and technology sectors. Mr Farthing is also a Chartered Fellow of the Chartered Institute for Securities & Investment, having been involved in corporate acquisitions and disposals as well as fund raising. John will report to the Board and be responsible for day to day financial operations and strategic input, augmenting the existing governance and financial controls. This is a non-Board appointment.

Tony Sanders CEO, commented;“The Company has reached the stage in its development where it now has commercially viable product lines, demonstrably capable of delivering revenues. It is essential that the team are focussed on executing a robust sales and marketing strategy to deliver these revenues. With this in mind, the Board wants to ensure it has the correct management team in place with the right skillsets to enable the Company to concentrate on delivering its true potential. The above appointments will be augmented with suitably qualified Sales Management in the very near future. Obviously, we are very conscious of managing our cost base and can confirm that as a result of these and other changes within the Company, the net effect on the cost base is neutral.”

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).

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