21 Feb 2023 14:11
21 February 2023
Catenae Innovation PLC
("Catenae", the "Company" or the "Group")
Trading update
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, provides the following trading update.
Trading update
On 9 August 2021, the Company announced that it had received an order from Shetland Space Centre Limited ("SaxaVord"), a satellite launch site and ground station in Unst, Shetland, as part of a three phase project to deliver a digital dashboard solution to enable SaxaVord to monitor live satellite operations remotely from anywhere in the world.
On 30 May 2022, the next phase was announced and the Company received a purchase order for £95,000. The first half of the payment in relation to the order was received in July 2022. The whole contract was fulfilled in December 2022 and the Company subsequently received the contract balance payment in February 2023 which has been recognised as revenue in the second half of the prior financial year, as previously anticipated in the announcement of 30 September 2022.
Guy Meyer, Chief Executive Officer of Catenae, said:
"I am pleased that the Company successfully delivered this technology contract to SaxaVord, who are one of the UK's leaders in the race to launch satellites into space. The project involves developing bespoke technology solutions to allow SaxaVord to better monitor low earth orbiting satellites from their location in Unst."
"We look forward to keeping the market updated with any future news."
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 |
Notes to Editors:
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media and technology services. The Company specialises in Distributed Ledger Technology solutions that solve commercial challenges and create opportunities for its clients. The Company has an experienced IT team of project managers and integrators who have deployed systems across corporate, government and educational sectors.
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 identied 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 reect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.