30 Jun 2022 07:00
Catenae Innovation PLC
("Catenae" or the "Company")
Financial Information to 31 March 2022 and Update
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, provides the following update.
Financial Information to 31 March 2022
As notified on 23 March 2022, the Company was not in a position to complete the audit of its financial statements to 30 September 2021 and its shares were temporarily suspended pursuant to AIM Rule 40. The Company continues to work with its auditors to complete the audit. As a consequence of not having an opening audited Balance Sheet, the Company is unable to provide its full unaudited results for the 6 months to 31 March 2022. The full unaudited results for the 6 months to 31 March 2022 will be published at the same time as the audited results for the 12 months to 30 September 2021 are notified and posted to shareholders. The following financial information update has been provided on an unconsolidated basis.
The unaudited statement of comprehensive income for the six-month period to 31 March 2022 shows a loss for the period of £273,069 (2021: loss of £586,798). Work has commenced on the order announced on 30 May 2022 and the initial invoice has been issued.
The unaudited Statement of Financial Position as at 31 March 2022 shows net assets of £438,956 (2021: £1,035,493) and cash at bank of £332,209 (2021: £1,254,445).
Since the period end, no further capital has been raised. As at the date of this announcement the Company's net cash position is circa £274,000.
Hyperneph Software Limited ("Hyperneph")
Further to the announcement made on 30 May 2022, the Company continues to defend the claim made by certain minority shareholders of Hyperneph. The Company has submitted a counterclaim for the amount of circa £290k.
Suspension
The Company's shares were temporarily suspended from trading on AIM pursuant to AIM Rule 41 with effect from 07:30 on 1 April 2022 as it was not in a position to complete the audit of its financial statements to 30 September 2021. A company's shares can remain suspended up to 6 months from the date of suspension, following which its shares would be cancelled from trading on AIM.
- Ends -
This announcement contains inside information for the purposes of the UK Market Abuse Regulation. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Chief Executive Officer of the Company and the Directors of the Company are responsible for the release of this announcement.
For further information please contact:
Catenae Innovation PLC | +44 (0)191 580 8545 |
Guy Meyer, Chief Executive Officer |
Cairn Financial Advisers LLP (Nominated Adviser) | +44 (0)20 7213 0880 |
Liam Murray / Jo Turner | |
Shard Capital Partners LLP (Broker) | +44 (0)20 7186 9952 |
Damon Heath | |
Yellow Jersey PR (PR & IR) | +44 (0)20 3004 9512 |
Sarah Hollins / Annabel Atkins / James Lingfield |
Notes to Editors:
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media and technology services. Catenae use the power of blockchain to deliver solutions where its people-centric technology enables trust and certainty allowing organisations to gain better control over their operations, manage staff and safely welcome customers.
www.catenaeinnovation.com
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.