Proposed equity subscription and conv loan note

RNS Number : 7709E

Catena Group PLC

03 March 2020

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

3 March 2020

Catena Group PLC

("Catena" or the "Company")

Proposed equity subscription and issue of convertible loan note

Catena Group plc (AIM: CTNA), the AIM listed investment vehicle, announces its intention to conduct a conditional subscription of not less than 4,000,000 new ordinary shares of 1 pence each in the Company ("Ordinary Shares" and "Subscription" respectively) at a price of not less than 25.0 pence per share to raise a total of not less than £1 million. In addition, the Company has constituted a £2 million convertible loan note ("Loan Note") of which £0.5 million loan notes are intended to be issued as part of this fundraising ("Notes"). The net proceeds of the Subscription and the issue of the Notes will be used to finance the proposed investment in Insight Capital Partners Ltd as set out in the announcement released at 7.00 a.m. today, and any balance for general working capital purposes.

Under the terms of the Loan Note, loan notes issued have a three year term (commencing on the date of the Loan Note), bear no interest and are convertible into Ordinary Shares, at a price of 25 pence per share, at any time by the holder and will automatically convert into Ordinary Shares on the occurrence of certain events.  If not converted and at the end of the three year term, any loan notes issued under the Loan Note will be redeemed by Catena at par.

* ENDS *

This announcement has been released by Matthew Farnum-Schneider, Chief Executive, on behalf of the Group.

For further information, please visit www.catenagroup.co.uk or contact:

Catena Group PLC Matthew Farnum-Schneider	[phone]
Cantor Fitzgerald Europe (Nomad and Broker) David Foreman/Michael Boot/Adam Dawes	[phone]
St Brides (Financial PR) Catherine Leftley/Beth Melluish	[phone]

 

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