30 May 2022 07:00
Catenae Innovation PLC
("Catenae" or the "Company")
Update
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, provides the following update.
Trading update
The Company has received a purchase order for £95,000 from an existing customer to provide further digital technology solutions to the customer. It is expected that at least half of this purchase order will be fully satisfied in the current financial year.
Furthermore, an agreement has been renewed with another existing customer securing in aggregate £19,000 of revenues, which the Company anticipates more than half of the revenue will be recognised in the current financial year.
Hyperneph Software Limited ("Hyperneph")
Further to the announcement made on 17 May 2022, the Company advises that Michelle Gurney has resigned as a director of Hyperneph, a 51% subsidiary of the Company.
The Company continues to defend the claim made by certain minority shareholders of Hyperneph. The Company will be making a counterclaim in due course.
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.
There has been no material change in the Company's financial position since it was last updated on 17 May 2022.
- 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.