TIDMCTEA
RNS Number : 2322B
Catenae Innovation PLC
30 September 2022
30 September 2022
Catenae Innovation PLC
("Catenae", the "Company" or the "Group")
Half Year Results
Convertible Loan
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of
digital media and technology, announces its half-yearly report for
the six months ended 31 March 2022.
Financial overview
-- Loss of GBP287,168 in the period under review (2021:
GBP586,798) with revenues of GBP17,500 (2021: GBP12,308).
-- Net asset position GBP110,033 (2021: GBP1,035,493).
Operational overview
-- In January 2022, the Company completed the ISO 27001
accreditation audit on behalf of the International Standards
Organisation (ISO), ensuring that the Company retained its
accreditation.
-- In March 2022, the Company secured the renewal of the
Charlton Athletic Community Trust 'On Side' licence and support
agreement with a contract value of GBP37,500 to be paid over the
next three years. The Company received an additional GBP1,000
upfront payment for the migration to a new server.
-- The Company continued its participation with the UK
Government's Department for Digital, Culture, Media and Sport
("DCMS") in the development of the Digital Identity and Trust
Attributes Framework Policy.
-- The Company also promoted itself at Construction Industry
events in London and Birmingham, focusing on its digital identity
solutions.
Post period end
-- In May 2022, the Company secured a c.GBP95,000 Digital
Technology Solution purchase order with Saxavord UK Space Port. It
is anticipated that c.GBP66,400 of this purchase order will be
recognised as revenue in the second half of the current financial
year.
Convertible Loan
The Company also announces that, post period end, it has entered
into an agreement for a convertible loan facility for up to
GBP250,000 ("Convertible Loan") with Sanderson Capital Partners
Limited ("Sanderson Capital"), which will consist of an initial
drawdown of GBP125,000 followed by a further drawdown expected
three months thereafter.
At each drawdown, the Company will issue new ordinary shares to
Sanderson Capital equal to 10 percent of the drawdown value at an
issue price of the 10-day volume weighted average price prior to
the date of drawdown. A further announcement will be made on the
date of each drawdown event.
Sanderson Capital will be able to convert part or all of the
Convertible Loan facility in minimum increments of GBP5,000, with
the conversion price being fixed at the lower of i) 0.25p; or ii)
90% of the 5-day volume weighted average price from the first day
of dealings of the Company's restoration to trading on AIM. The
Convertible Loan facility is interest-free.
As part of the Convertible Loan facility agreement, Sanderson
Capital will be issued new ordinary shares and a warrant over new
ordinary shares in the Company, of which the issue price and
exercise price will be the closing mid-price of the Company's
ordinary shares on the first day of dealings following the lifting
of the suspension and restoration to trading of the Company's
ordinary shares on AIM.
The new ordinary shares and warrant over new ordinary shares
will be issued after the next general meeting of the Company and a
further announcement setting out the details will be made at the
time of issue.
Guy Meyer, Chief Executive Officer of Catenae, said:
"Given the challenging trading conditions as a result of the
Covid-19 pandemic and market uncertainty, the Company has been very
prudent with our resources and has focused on securing contract
wins.
" Our acquisition of Hyperneph has proved disappointing, but the
board remains optimistic about the prospects of recouping monies
committed as a result of that transaction.
"Catenae's ongoing consultation with DCMS in the development of
the Digital Identity and Trust Attributes Framework Policy reflects
the Company's standing in the sector. Our investment in software IP
development also contributes to the future-proofing of our
competitive product set offerings, not just within the Geo-spatial
sector.
"We look forward to keeping the market updated on how these
opportunities progress."
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 / James Lingfield
Notes to Editors:
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media
and technology services. The Company specialises in Distributed
Ledger Technology solutions that solve commercial challenges and
create opportunities for its clients. The Company has an
experienced IT team of project managers and integrators who have
deployed systems across corporate, government and educational
sectors.
www.catenaeinnovation.com
Consolidated Statement of Comprehensive Income
For the Period Ended 31 March 2022
Unaudited Unaudited Audited
six months ended six months year
31 March ended ended
2022 31 March 30 Sept
2021 2021
GBP
GBP GBP
Revenue 17,500 12,308 30,210
Cost of sales (6,000) - (14,400)
------------------ ------------ --------------
Gross profit 11,500 12,308 15,810
Administrative expenses (298,668) (599,116) (939,027)
Impairment losses - - (318,629)
Loss from operations (287,168) (586,808) (1,241,846)
Net Finance income/(expense) - 10 (10)
Loss before taxation (287,168) (586,798) (1,241,836)
Taxation - - (5,112)
------------------ ------------ --------------
Total comprehensive loss for the year (287,168) (586,798) (1,246,948)
------------------ ------------ --------------
Loss attributable to:
Owners of the parent (280,260) - (1,257,149)
Non-controlling interest (6,908) - 10,201
Consolidated Statement of Financial Position
For the Period Ended 31 March 2022
Unaudited Unaudited Audited
six months six months year
ended ended ended
31 March 31 March 30 Sept
2022 2021 2021
GBP GBP GBP
Non-current assets
Tangible Assets 6,518 - 6,828
Intangible assets 1 1 1
6,519 1 6,829
Current assets
Trade and other receivables 30,514 47,475 45,236
Cash and cash equivalents 337,183 1,254,445 605,082
------------- ------------- -------------
367,697 1,301,920 650,318
Current liabilities
Trade and other payables (264,183) (248,428) (275,221)
(264,183) (248,428) (275,221)
Non-current liabilities
Interest-bearing loans - (18,000) -
Total Liabilities (264,183) (266,428) (275,221)
Net Assets/(Liabilities) 110,033 1,035,493 381,926
------------- ------------- -------------
Non-controlling Interest 4,610 - 11,518
Capital and reserves
attributable to equity
holders of the company
Ordinary share capital 570,078 551,773 562,441
Deferred share capital 3,159,130 3,159,130 3,159,130
Share premium account 19,665,458 19,663,223 19,657,821
Share reserve (83,333) (83,333) (83,333)
Merger reserve 11,119,585 11,119,585 11,119,585
Capital Redemption Reserve 2,732,904 2,732,904 2,732,904
Retained losses (37,058,399) (36,107,789) (36,778,140)
------------- ------------- -------------
Total Equity 110,033 1,035,493 381,926
------------- ------------- -------------
Consolidated Statement of Cash Flows
For the Period Ended 31 March 2022
Unaudited Unaudited Audited
six months six months year
ended ended ended
31 March 31 March 30 Sept
2022 2021 2021
GBP GBP GBP
Loss for the period (287,168) (586,798) (1,246,948)
Adjustments for :
Impairment of investments - - 318,629
Net bank and other interest
(income) / charges - (10) (10)
Issue of share options - - -
/ warrant charge
Services settled by the
issue of shares - 48,000 72,704
Net (loss) before changes
in working capital (287,168) (538,808) (855,625)
(Increase) / decrease in
trade and other receivables 15,034 (34,766) (24,633)
(Decrease) / increase in
trade and other
payables (11,038) (5,898) (112,896)
------------ ------------ --------------
Cash from operations (283,172) (579,472) (993,154)
Interest received - 10 10
Interest paid - - -
Net cash flows from operating
activities (283,172) (579,462) (993,144)
------------ ------------ --------------
Investing activities
Investment in subsidiary - - 217,500
------------ ------------ --------------
Net cash flows from investing
activities - - (217,500)
------------ ------------ --------------
Financing Activities
Issue of ordinary share
capital 15,273 1,119,864 1,119,683
Repayment of loans - - (18,000)
New loans raised - - -
------------ ------------ --------------
Net cash flows from financing
activities 15,273 1,119,864 1,101,683
------------ ------------ --------------
Net increase / (decrease)
in cash (267,899) 540,402 (108,961)
Cash and cash equivalents
at beginning of period 605,082 714,043 714,043
Cash and cash equivalents
at end of period 337,183 1,254,445 605,082
------------ ------------ --------------
Company Statement of Financial Position
For the Period Ended 31 March 2022
Unaudited Unaudited Audited
six months six months year
ended ended ended
31 March 31 March 30 Sept
2022 2021 2021
GBP
GBP GBP
Non-current assets
Intangible assets 1 1 1
1 1 1
Current assets
Trade and other receivables 24,242 47,475 45,237
Cash and cash equivalents 332,209 1,254,445 539,842
------------- ------------- -------------
356,451 1,301,920 585,079
Current liabilities
Trade and other payables (255,828) (248,428) (226,660)
(255,828) (248,428) (226,660)
Non-current liabilities
Interest-bearing loans - (18,000) -
Total Liabilities (255,828) (266,428) (226,660)
Net Assets/(Liabilities) 100,624 1,035,493 358,420
------------- ------------- -------------
Capital and reserves
attributable to equity
holders of the company
Ordinary share capital 570,078 551,773 562,441
Deferred share capital 3,159,130 3,159,130 3,159,130
Share premium account 19,665,457 19,663,223 19,657,821
Share reserve (83,333) (83,333) (83,333)
Merger reserve 11,119,585 11,119,585 11,119,585
Capital Redemption Reserve 2,732,904 2,732,904 2,732,904
Retained losses (37,063,197) (36,107,789) (36,790,128)
------------- ------------- -------------
Total Equity 100,624 1,035,493 358,420
------------- ------------- -------------
Company Statement of Cash Flows
For the Period Ended 31 March 2022
Unaudited Unaudited Audited
six months six months year
ended ended ended
31 March 31 March 30 Sept
2022 2021 2021
GBP
GBP GBP
Loss for the period (273,069) (586,798) (1,269,137)
Adjustments for :
Impairment of investment 320,000
Net bank and other interest
(income) / charges - (10) (10)
Issue of share options - - -
/ warrant charge
Services settled by the
issue of shares - 48,000 72,704
Net (loss) before changes
in working capital (273,069) (538,808) (876,443)
(Increase) / decrease in
trade and other receivables 20,995 (34,766) (24,633)
(Decrease) / increase in
trade and other
payables 29,168 (5,898) (157,318)
------------ ------------ --------------
Cash from operations (222,906) (579,472) (1,058,394)
Interest received - 10 10
Interest paid - - -
Net cash flows from operating
activities (222,906) (579,462) (1,058,384)
------------ ------------ --------------
Investing activities
Investment in subsidiary - - (217,500)
------------ ------------ --------------
Net cash flows from investing
activities - - (217,500)
------------ ------------ --------------
Financing Activities
Issue of ordinary share
capital 15,273 1,119,864 1,119,683
Repayment of loans - - (18,000)
New loans raised - - -
------------ ------------ --------------
Net cash flows from financing
activities 15,273 1,119,864 1,101,683
------------ ------------ --------------
Net increase / (decrease)
in cash (207,633) 540,402 (174,201)
Cash and cash equivalents
at beginning of period 539,842 714,043 714,043
Cash and cash equivalents
at end of period 332,209 1,254,445 539,842
------------ ------------ --------------
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed 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 re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IR EKLFLLKLEBBE
(END) Dow Jones Newswires
September 30, 2022 02:00 ET (06:00 GMT)
Catenae Innovation (LSE:CTEA)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Catenae Innovation (LSE:CTEA)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
