Catenai PLC Klarian CLN Update

RNS Number : 0956T

Catenai PLC

13 January 2025

 

13 January 2025

Catenai PLC

 

("Catenai", or the "Company")

 

Klarian CLN Update

 

Catenai PLC (AIM: CTAI), the AIM quoted provider of digital media and technology, announces that it has signed an addendum to the CLN with Klarian Ltd ("Klarian"), a company in which Catenai provided a £450,000 unsecured convertible loan note facility as per the announcement of 25 April 2024.

 

Given Klarian's ongoing negotiations with potential customers and other investors, Klarian and Catenai have agreed to extend the redemption date of the CLN from 31 December 2024 to 30 June 2025.

 

Klarian has raised $250,000 at a pre-money valuation of approximately £10 million from a single new investor who has significant industry experience.

 

The Company continues to carefully manage its working capital position.

 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation. The person who arranged for release of this announcement on behalf of the Company was John Farthing, Interim Chief Executive Officer of the Company and the Directors of the Company are responsible for the release of this announcement.

 

Capitalised terms used in this announcement shall, unless otherwise defined, have the same meaning as set out in the announcement on 25 April 2024.

 

 

For further information please contact:

 

Catenai PLC	[phone]
John Farthing, Interim Chief Executive Officer
Cairn Financial Advisers LLP (Nominated Adviser)	[phone]
Liam Murray / Ludovico Lazzaretti / James Western
Shard Capital Partners LLP (Broker)	[phone]
Damon Heath

Notes to Editors:

 

About Catenai PLC

Catenai is an AIM quoted provider of digital media and technology services. The Company has an experienced IT team of project managers and integrators who have deployed systems across corporate, government and educational sectors.

www.catenaiplc.com

 

 

 

 

Caution regarding forward looking statements

 

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

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END

 

 

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