Further re: Hyperneph Software Limited

Catenae Innovation PLC

22 May 2023

 

Catenae Innovation PLC

("Catenae", the "Company" or the "Group")

Further re: Hyperneph Software Limited

Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that further to the announcement of 17 May 2022, the Company is pleased to state that, at a Court hearing on Friday 19 May 2023, it successfully defended an attempt by Anthony Sanders and Alan Simpson, two of the minority shareholders ("the Claimants") of Hyperneph Software Limited ("Hyperneph") to seek Summary Judgment in the claim against the Company and to strike out the Company's counterclaim. 

The Court awarded the Company its legal costs for the hearing of £14,000 which will be paid by the Claimants within 21 days.  The Claimants will also have to pay their own costs of the hearing.

The Company will shortly be seeking to obtain directions to a trial at which it will continue to defend the claims made against it robustly whilst seeking to successfully bring its counterclaim to a successful outcome.

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	[phone]
Guy Meyer, Chief Executive Officer
Cairn Financial Advisers LLP (Nominated Adviser)	[phone]
Liam Murray / Jo Turner
Shard Capital Partners LLP (Broker)	[phone]
Damon Heath

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 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.

 

END