Company Update

RNS Number : 1349Y

Catenae Innovation PLC

02 September 2022

 

Catenae Innovation PLC

("Catenae" or the "Company")

Company Update

Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that, further to the announcement released by the Company on 30 June 2022, the board of the Company currently expects that it will be in a position, by 1 October 2022, to notify and publish its audited final results for the year ended 30 September 2021 and its unaudited interim results for the six-month period to 31 March 2022. The Company also provides an update in relation to the ongoing claim made by certain minority shareholders of Hyperneph Software Limited ("Hyperneph").

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 for the year ended 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.

Following the publishing and posting of both sets of accounts referred to above by 1 October 2022, the Company expects that trading on AIM in the Company's ordinary shares will be restored. There can be no certainty nor guarantee that the Company will be able to meet the suspension deadline for the publication of its audited full-year results or for its unaudited interim results.

Hyperneph

Further to the announcement made on 30 June 2022, the Company has appointed John Farthing, Chief Financial Officer of the Company, and Sherene Thompson, spouse of Brian Thompson (Chairman of the Company), to the board of Hyperneph with immediate effect. The Company continues to defend the claim made by certain minority shareholders of Hyperneph and has submitted a counterclaim for the amount of circa £290,000.

- 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	[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
Yellow Jersey PR (PR & IR)	[phone]
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.

 

END

 

 

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