Milestone Group PLC Catenae Innovation Plc: Update
October 01 2018 - 1:00AM
UK Regulatory
TIDMMSG
CATENAE INNOVATION PLC
("Catenae" or the "Company")
Update
Catenae (AIM:CTEA), the AIM quoted provider of digital media and
technology, is pleased to provide an update regarding:-
-- Successful completion of proof of concept exercise with Aston Villa
Football Club for the Company's OnSide solution announced on 20 June 2018
leading to commercial negotiations;
-- Successful completion of proof of concept exercise with provider of
building management and inspection services as announced on 5 July 2018
also leading to commercial negotiations; and
-- Positive findings from the on-going trial of Trust in Media's Digital
Image Library
Aston Villa Football Club
Catenae is pleased to announce that the proof of concept exercise with
Aston Villa Football Club ("AVFC") has completed successfully.
AVFC and the Company have now commenced commercial negotiations with a
view to the OnSide product being fully integrated within AVFC's
operations in the near future.
Sequestrum
Catenae's Mobile Business Solutions division, which operates remote
workforce management tools, has successfully completed a proof of
concept exercise with a provider of building management and inspection
services. This proof of concept involved the use of Catenae's digital
repository solution, Sequestrum, which utilises distributed ledger
technology ("DLT" also known as Blockchain) to record inspection reports
in an immutable manner.
The companies have now engaged in commercial discussions regarding the
long-term use of Sequestrum.
As a result of this proof of concept exercise, the client has requested
Catenae expand the project to include the creation of the mobile
application and management dashboard that will form the basis of their
product offering.
We expect to make further announcements on the above commercial
agreements in the near future.
Trust in Media -- Digital Image library
Catenae's subsidiary, Trust in Media is pleased to confirm the proof of
concept project with a service provider in the Image Licensing sector to
trial the embedding of the Digital Asset Registration and Transactional
Tracking technology within the provider's operations also announced on 5
July 2018 continues to plan, following initial positive findings.
Tony Sanders, CEO, commented:
"It is always good when a plan comes together and seeing our products
being trialled in earnest and to not only pass with flying colours but
provide realistic opportunities of signed agreements confirms the
strategy. Particularly with regards to our DLT application Sequestrum,
this being the first real world use of this innovative service. We look
forward to announcing signed agreements 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 Tony Sanders (Chief
Executive Officer).
For further information:
Catenae Innovation Plc
Tel: 020 7929 7826
Tony Sanders
Cairn Financial Advisers LLP, Nominated Adviser
Tel: 020 7213 0880
Liam Murray / Jo Turner
Alexander David Securities Limited, Broker
Tel: 020 7448 9820
David Scott / James Dewhurst
(END) Dow Jones Newswires
October 01, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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