Catenae Innovation PLC Update re Working Capital & Balance Sheet (8994A)

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: [phone] 
  Guy Meyer 
Cairn Financial Advisers LLP, Nominated Adviser  Tel: [phone] 
 Liam Murray / Jo Turner 
 Turner Pope Investments (TPI) Limited Broker    Tel: [phone] 
   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 [e-mail] or visit www.rns.com.

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January 24, 2020 08:20 ET (13:20 GMT)