Home » Posts tagged 'Brian Thompson'

Tag Archives: Brian Thompson

Catenae Innovation #CTEA – Annual Report, Trading & COVID-19 Update

Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, provides the following update in relation to its Annual Report and Accounts, Trading and COVID-19. 

Annual Report and Accounts

Due to the current COVID-19 outbreak, the Company will be unable to post its annual audited accounts to shareholders for the year to 30 September 2019 by the 31 March 2020 deadline pursuant to AIM Rule 18.

Further to the guidance provided by AIM Regulation in “Inside Aim” on 26 March 2020, the Company requested an additional period of up to three months to publish its annual audited accounts for the year ended 30 September 2019.

AIM Regulation has granted the extension, and therefore the Company will publish its annual audited accounts to 30 September 2019 by 30 June 2020.  Catenae has also applied for and been granted an extension to delay the filing of its audited annual accounts by Companies House until 30 June 2020. 

Trading and COVID-19 update

Catenae’s principal trading activity is providing services to clients operating in the Facilities Management sector along with customers, allied to football and rugby clubs, who offer local engagement services on behalf of local authorities.  All the Company’s products use Distributed Ledger Technology which provide clients with audit trails proving that contracted services are fulfilled.  The Company’s service mitigates risk as operative activities are geo-tagged and date and time stamped in an immutable form.

Given the Company’s recent corporate restructuring, unaudited accounts show a loss for the year to 30 September 2019 of £789,565 (2018: £1,106,788) on turnover of £102,549 (2018: £157,218).  Further to the announcements in December 2019 regarding trading performance and working capital requirements, the Company acknowledges that both sets of results are disappointing. Further cost-cutting measures have been implemented.  

The Company is closely monitoring the impact of the COVID-19 virus.  The wellbeing and safety of our staff is of primary importance.  Catenae’s workforce work remotely and the Company’s technology product continues to be used effectively with customers and partners.  This approach contributes to Company resilience in the current circumstances.

Catenae has previously announced that Brian Thompson and John Farthing will be appointed as directors to the Company, subject to regulatory approvals.  The Company anticipates that both these appointments will be made soon. 

Guy Meyer, Interim Chief Executive Officer, said:

“Following the corporate restructuring last year, the Board recognises that both of the results are disappointing.  However, we are pleased to report the new short term funding.  It is also encouraging in current market conditions that the Company shortly moves into the second year of a three-year contract with Charlton Athletic Community Trust. Catenae continues to innovate its products so that following the easing of restrictions and less economic uncertainty, the Company will be in a better position to compete. The Board also looks forward to Brian and John joining the Board in the near future adding their considerable wealth of experience and expertise.”

 

– Ends –

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Interim Chief Executive Officer of the Company.

For further information please contact:

 

Catenae Innovation PLC

+44 (0)20 7929 7826

 

Guy Meyer, Interim Chief Executive Officer

 

 

Cairn Financial Advisers LLP (Nominated Adviser)

 

+44 (0)20 7213 0880

 

Liam Murray
Jo Turner

 

 

Turner Pope Investments (TPI) Limited Broker

 

+44 (0)20 3657 0050

 

Andrew Thacker

Zoe Alexander

 

 

 

Yellow Jersey PR (PR & IR)

 

+44 (0)20 3004 9512

 

Sarah Hollins
Annabel Atkins

 

Forward-Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as ‘anticipates,’ ‘expects,’ ‘intends,’ ‘plans,’ ‘believes,’ ‘seeks,’ ‘estimates,’ and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.

The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

Catenae Innovation #CTEA – Working Capital Facility

Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, is pleased to announce that it has entered into a loan facility agreement with B.T.I.C. Limited for an amount of £150,000 (“Loan Facility” or “Agreement”).  The Loan Facility will be used for the general working capital purposes of the Company.

The Loan Facility is unsecured and accrues interest at the rate of 11 per cent per annum and may be drawn down in three tranches commencing before 31 March 2020.  The Loan Facility is repayable by 25 March 2022. The Loan Facility may be converted into ordinary shares of the Company in the event of a reverse transaction at a price equivalent to the price the shares are re-admitted to trading.

The Loan Facility provides the Company with sufficient working capital until at least 30 June 2020.

B.T.I.C. Limited is a company controlled by Brian Thompson who has an interest over 31,129,781 shares in the Company, representing circa 29% of the Company’s issued share capital.  Under the AIM Rules Brian Thompson is a substantial shareholder and is therefore a related party.

The directors of the Company, who are all independent of the Agreement consider, having consulted with its nominated adviser, that the terms of the Agreement are fair and reasonable insofar as shareholders are concerned. 

Guy Meyer, Interim Chief Executive Officer commented: “I am pleased to report that new funding has been secured to support the Company’s working capital position in the short term.  We look forward to updating the market on future progress in due course.”

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Interim Chief Executive Officer of the Company.

For further information please contact:

 

Catenae Innovation PLC

+44 (0)20 7929 7826

Guy Meyer, Interim Chief Executive Officer

 

Cairn Financial Advisers LLP (Nominated Adviser)

+44 (0)20 7213 0880

Liam Murray
Jo Turner

Turner Pope Investments (TPI) Limited (Broker)

+44 (0)20 3657 0050

Andrew Thacker

Zoe Alexander

 

 

Yellow Jersey PR (PR & IR)

+44 (0)20 3004 9512

Sarah Hollins
Annabel Atkins

 

Forward-Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as ‘anticipates,’ ‘expects,’ ‘intends,’ ‘plans,’ ‘believes,’ ‘seeks,’ ‘estimates,’ and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.