Milestone Group PLC Catenae Innovation Plc : Memorandum Of Understanding Signed

 
TIDMMSG 
 
 
   CATENAE INNOVATION PLC 
 
   ("Catenae" or the "Company") 
 
   Memorandum of Understanding Signed 
 
   Catenae (AIM:CTEA), the AIM quoted provider of digital media and 
technology, announces that it has signed a Memorandum of Understanding 
with Tribe of Noise BV ("ToN") subject to completion of  normal legal, 
accounting and commercial due diligence.  The Company proposes to 
acquire a circa 51% interest in ToN for a consideration of Euro600,000, 
which would be satisfied by a mixture  shares and cash. 
 
   Award winning music company Tribe of Noise (www.tribeofnoise.com) is a 
leading provider of quality, direct licensed music and fair remuneration 
models for a growing community of 30,000 musicians globally. Successful 
revenue models include ToN's streaming music services for businesses in 
retail, hospitality and leisure. A billion dollar industry overlooked by 
many consumer-centric music services. 
 
   ToN's product offering is complimentary to those offered by Trust in 
Media the Company's joint venture announced in March 2018 and provides a 
ready built audience and cross-selling opportunities for both entities. 
This proposed acquisition further underlines the Company's strategy to 
build a portfolio of synergeous businesses. 
 
   Further announcements will be made in due course. 
 
   Tony Sanders CEO of Catenae commented: 
 
   "We are pleased to have come to this agreement with Hessel van Oorschot 
and the team at Tribe of Noise to join the Catenae group of companies, 
further augmenting our digital media service provision. In addition to 
providing a successful partner for independent musicians, ToN is known 
in Europe for its extensive legal knowledge of innovative, open 
licensing models. Together with Creative Commons, Getty Images, Sonos, 
IBM Watson and many other thought leaders Tribe of Noise is turning the 
popular "fair pay for play" idea in the music industry into reality. 
Their lack of presence in the UK market provides a massive opportunity 
to build on their existing revenues." 
 
   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: [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

May 10, 2018 07:43 ET (11:43 GMT)

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