Catenae Innovation Plc: Company Update

 
TIDMCTEA 
 
 
   CATENAE INNOVATION PLC 
 
   ("Catenae" or the "Company") 
 
   Company Update 
 
   Catenae (AIM:CTEA), the AIM quoted provider of digital media and 
technology, is pleased to announce:- 
 
 
   -- it has signed a proof of concept agreement with Rotherham United 
      Community Sports Trust ("RUCST") for the Company's OnSide solution; and 
 
   -- Update on Tribe of Noise Memorandum of Understanding. 
 
 
   Rotherham United Sign Proof of Concept Agreement 
 
   Catenae is pleased to announce that it has signed a proof of concept 
agreement with RUCST for the Company's OnSide solution. 
 
   Under the agreement, RUCST will be utilising OnSide, Catenae's GDPR 
compliant solution, to manage a number of coaching sessions and 
community engagements. OnSide will be used for centralised management of 
human resources information, time recording, health and safety and risk 
assessment reporting. It will also be used to gather demographic data, 
attendance information and training plans to assist in assessing the 
impact and effectiveness of RUCST's service offerings. The proof of 
concept programme is expected to run for 8 weeks. It is anticipated that, 
on successful completion of this programme, RUCST will convert the 
programme to a commercial agreement. A further announcement will be made 
in due course. 
 
   Tribe of Noise Memorandum of Understanding 
 
   Following the announcement of a Memorandum of Understanding with Tribe 
of Noise MV on 10 May 2018, after due consideration the Company has 
decided it will not pursue this acquisition. Having determined that 
focussing the business' resources and efforts on the marketing and sales 
of its Sequestrum and On-Suite products (OnSide, OnSite, OnGuard) the 
Company believes this approach will deliver better shareholder value. 
 
   Tony Sanders, CEO stated 
 
   "Whilst we are not proceeding with Tribe of Noise, I feel this is the 
correct decision allowing the Company to focus on its core product set. 
As a result of such focus, we've had a busy start to 2019 and it is good 
to see the results of the efforts put in during the latter half of 2018 
feeding through onto the bottom line.  With new clients across the whole 
product portfolio, we've seen a five-fold increase in clients for our 
products over our target market sectors over the last 12 months.  We're 
confident that this trend will continue with the recruitment of a 
dedicated sales resource." 
 
   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 
 
  Alexander David Securities Limited, Broker         Tel: [phone] 
  David Scott / James Dewhurst 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

February 01, 2019 02:00 ET (07:00 GMT)

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