Further re: Hyperneph Software Limited

Catenae Innovation PLC

06 September 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 its 51% subsidiary Hyperneph Software Limited ("Hyperneph") has ceased trading due to losses incurred.  A further announcement will be made in due course to update on insolvency proceedings at Hyperneph if and when required.  Hyperneph provided technology services to the Company.

The cessation of trading at Hyperneph has no material impact on the Company as the Company's investment in Hyperneph has been fully impaired. This does not have any impact on Catenae's ability to provide services to its existing and future clients.

The Company continues to carefully manage its working capital position.

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