Milestone Group PLC Catenae Innovation P.L.C. : Issue Of Equity, Convertible Loans And Issue Of Warrants

 
TIDMMSG 
 
 
   CATENAE INNOVATION PLC 
 
   ("Catenae" or the "Company") 
 
   Issue of Equity, Convertible Loans and Issue of Warrants 
 
   Catenae (AIM: CTEA), the AIM quoted provider of digital media and 
technology, announces that it has agreed to issue a total of 34,333,334 
new ordinary shares of 0.1 pence per share in the Company at a price of 
0.15 pence per share. 
 
   Issue of Equity 
 
   The Company has issued 7,666,667 new ordinary shares (Subscription 
Shares") for cash at a price of 0.15 pence per share raising gross 
proceeds of GBP11,500. Guy Meyer, a director of the Company, has 
subscribed for 6,666,667 of these Subscription Shares. 
 
   Tony Sanders, a director of the Company, has converted GBP40,000 of a 
creditor balance owed to him into new ordinary shares in the Company at 
a price of 0.15 pence per share - representing 26,666,667 new ordinary 
shares ("Conversion Shares"). 
 
   The 34,333,334 new ordinary shares will rank pari passu with the 
existing ordinary shares of Catenae. Application will be made for the 
34,333,334 ordinary shares to be admitted to trading on AIM, which is 
expected to occur on or around 25 April 2018. 
 
   Unsecured Convertible Loan Note 
 
   The Company also announces that it has raised GBP15,000, which would 
convert in up to 10,000,000 Loan Conversion Shares by way of a 
convertible loan at a price of 0.15 pence per share, the convertible 
loan note is interest-free and can be repaid by the Company at any time 
prior to 31 March 2019. 
 
   Issue of Warrants 
 
   The Company has issued warrants to the holders of the Subscription 
Shares and the Loan Conversion Shares, consequently the Company has 
issued warrants over 17,666,667 new ordinary shares, exercisable at a 
price of 0.25 pence per share at any time up until 31 March 2019. 
 
   Related Party Transaction 
 
   The issue of Subscription Shares and Conversion Shares and associated 
issue of warrants is a related party transaction pursuant to AIM Rule 
13.  Kevin Everett, a director of the Company who is independent of the 
transaction, having consulted with the Company's nominated adviser 
believes that the terms of the transaction are fair and reasonable 
insofar as shareholders are concerned. 
 
   Total Voting Rights 
 
   Following the issue, Catenae will have in issue 1,959,768,320 ordinary 
shares with voting rights.  The above figure may be used by shareholders 
as the denominator for the calculations by which they will determine if 
they are required to notify their interest in, or a change to their 
interest in, the Company under the Disclosure and Transparency Rules. 
 
   Following the Warrant issue, the Company will have 179,368,783 options 
and 386,098,130 warrants in issue. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. 
 
   For further information: 
 
 
 
 
Catenae Innovation Plc                           Tel: [phone] 
 Tony Sanders 
Cairn Financial Advisers LLP, Nominated Adviser  Tel: [phone] 
 Liam Murray / Jo Turner 
Cornhill Capital, Broker                         Tel: [phone] 
 Dan Gee 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Catenae Innovation P.L.C. via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/ 
 

(END) Dow Jones Newswires

April 19, 2018 02:00 ET (06:00 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.