Catenae Innovation PLC Update re Working Capital & Balance Sheet (8994A)
January 24 2020 - 7:20AM
UK Regulatory
TIDMCTEA
RNS Number : 8994A
Catenae Innovation PLC
24 January 2020
CATENAE INNOVATION PLC
("Catenae" or the "Company")
Further re:- working capital and balance sheet
Catenae (AIM:CTEA), the AIM quoted provider of digital media and
technology, provides a further update to its working capital and
balance sheet position.
Further to the announcement made on 10 January 2020, the
Company's working capital position remains weak and it is
continuing discussions with a number of parties in respect of
securing immediate funding, by way of a placing or short term debt
and that the directors remain optimistic that such funding of up to
GBP100,000 will be available to it.
There is no guarantee that these current discussions will result
in new funding being secured or that the terms of any such
agreement will be favourable to the Company and its shareholders.
In the event that further funding cannot be secured, then the
Company may need to consider commencing insolvency proceedings.
A further announcement will be made 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).
For further information:
Catenae Innovation Plc Tel: 020 7929 7826
Guy Meyer
Cairn Financial Advisers LLP, Nominated Adviser Tel: 020 7213 0880
Liam Murray / Jo Turner
Turner Pope Investments (TPI) Limited Broker Tel: 020 3657 0050
Andrew Thacker / Zoe Alexander
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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