Catenae Innovation PLC Temporary Suspension and Update (7974F)
23 3월 2022 - 11:10PM
UK Regulatory
TIDMCTEA
RNS Number : 7974F
Catenae Innovation PLC
23 March 2022
Catenae Innovation PLC
("Catenae" or the "Company")
Temporary Suspension and Update
The Company will not be in a position to complete the audit of
the financial statements to 30 September 2021 by 31 March 2022 and
has therefore requested the temporary suspension of its shares from
trading on AIM, until such time as the audit is complete and
audited financial statements have been posted to shareholders,
pursuant to AIM Rule 19.
Accordingly, at the request of the Company, the Company's
ordinary shares will be suspended from trading on AIM with effect
from 7:30 a.m. on Friday 1 April 2022. The Company will request a
restoration of its listing once the Company's audited report and
accounts for the year ended 30 September 2021 have been published.
The Directors anticipate that the Company will be in a position to
publish the audited report and accounts on or around 29 April 2022.
A further announcement will be made in due course.
Pursuant to AIM Rule 41, the Company has six months to publish
audited accounts for the year ended 30 September 2021 to prevent
cancellation of the admission of its ordinary shares to trading on
AIM.
Hyperneph Software Limited ("Hyperneph")
A dispute has arisen between the Company and certain of the
minority shareholders of Hyperneph in relation to the acquisition
of Hyperneph. As a result, the Company has not issued the new
ordinary shares representing part of the consideration for the
acquisition nor has the Company made the final cash instalment of
GBP 52,500 , being part of the GBP270,000 consideration referred to
in the announcement of 4 May 2021. A further announcement will be
made in due course.
Following the acquisition of Hyperneph, the Company is required
to produce consolidated audited accounts for the year ended 30
September 2021.
Update on Financial Position
As at 30 September 2021, the Company had unaudited turnover of
GBP25,002 (2020: GBP14,948) and an unudited loss of GBP930,804
(2020: GBP769,186). The unaudited net assets of the Company are
GBP696,753 (2020: GBP502,427). As at 30 September 2021, the Company
had cash resources of GBP539,842 (2020: GBP714,043), as of the date
of this announcement the Company has cash resources of
approximately GBP 350,000 , which the directors believe is
sufficient for the Company's current working capital needs.
- Ends -
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 Guy
Meyer, Chief Executive Officer of the Company and the Directors of
the Company are responsible for the release of this
announcement.
For further information please contact:
+44 (0)191 580
Catenae Innovation PLC 8545
Guy Meyer, Chief Executive Officer
Cairn Financial Advisers LLP (Nominated Adviser) +44(0)20 7213 0880
Liam Murray / Jo Turner
+44 (0)20 7186
Shard Capital Partners LLP, Broker 9952
Damon Heath
+44 (0)20 3004
Yellow Jersey PR (PR & IR) 9512
Sarah Hollins / Annabel Atkins / Matthew McHale
Notes to Editors:
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media
and technology services. Catenae use the power of blockchain to
deliver solutions where its people-centric technology enables trust
and certainty allowing organisations to gain better control over
their operations, manage staff and safely welcome customers.
www.catenaeinnovation.com
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.
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END
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March 23, 2022 10:10 ET (14:10 GMT)
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