6 May 2020 07:00
6 May 2020
Catena Group PLC
("Catena" or the "Company")
Extension for Reporting Financial Results
Catena Group plc (AIM: CTNA), a UK based venture capital company focused upon acquiring or investing in companies operating in high growth industries, announces that the Company has been granted a three month extension by Companies House for the reporting and filing of its financial results for the year ended 31 December 2019 ("FY19").
The Government's COVID-19 guidelines and the furloughing of staff at Sports in Schools Limited ("SSL"), the Company's 85.87 per cent. subsidiary, prevent Catena's auditors from completing their standard physical audit procedures thus requiring a delay in the filing of FY19 results.
The safety of Group and subsidiary employees is paramount. Following the closure of schools across the UK, SSL took swift action to furlough staff until primary schools re-open; which we currently understand could be as soon as June. The financial performance and position of SSL during the year to date remain in line with management expectations and management will continue to closely monitor the situation.
The Group continues to prioritise execution of its refocused strategy to capitalise on growth opportunities in artificial intelligence and machine learning. This follows the Company's initial March investment into Insight Capital Partners Limited ("Insight"). Insight's financial performance has been unaffected by the pandemic and the Group's strategy in this sector remains unaltered and on course.
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For further information, please visit www.catenagroup.co.uk or contact:
Catena Group PLC Matthew Farnum-Schneider
| +44 (0)20 3744 0900 |
Cantor Fitzgerald Europe (Nomad and Broker) David Foreman/Michael Boot/Adam Dawes
| +44 (0)20 7894 7000 |
St Brides (Financial PR) Catherine Leftley/Beth Melluish
| +44 (0)20 7236 1177 |