TIDMCTEA
RNS Number : 4424R
Catenae Innovation PLC
30 June 2020
30 June 2020
Catenae Innovation PLC
("Catenae", the "Company" or the "Group")
Final Results
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of
digital media and technology, is pleased to announce its full year
results for the twelve months ended 30 September 2019.
Financial overview
-- The Company had a net loss for the year of GBP825,230 (2018:
GBP1,106,788). Revenues for the year were GBP102,549 (2018:
GBP157,218).
-- The Company has a statement of financial position at the
year-end showing net liabilities of GBP727,077 (2018:
GBP891,929).
-- On 26 March 2020, the Company announced it had agreed a loan
facility of GBP150,000 from Brian Thompson.
Operational overview
-- Appointment of Guy Meyer to the Board as Interim Chief Executive Officer
-- Resignation of Tony Sanders as Chief Executive Officer and Chairman from the Board
-- Appointment of Kevin Everett to Interim Non-Executive Chairman
-- Reset of business strategy with operational costs significantly reduced
-- Progression of Charlton Athletic Community Trust and FireDoor
Guardian Ltd contracts to year two of agreed periods
Guy Meyer, Interim Chief Executive Officer of Catenae, said:
"The Board recognises that the Company's 2019 final results are
disappointing and reflect the challenging business conditions we
faced during the course of last year. We were encouraged by the
progression of the Charlton Athletic Community Trust and FireDoor
Guardian contracts to year two of the agreed periods.
"With the corporate restructuring now complete, the Company is
in a more stable position and is confident in its ability to seek
new growth opportunities to enhance shareholder value. We look
forward to keeping the market updated with our progress."
Chairman's Statement
Business and performance review
The trading year was challenging as the Company fought for
greater market share against the backdrop of slowing market
activity caused by the lack of political certainty produced by
Brexit. With the under-achievement of significant sales, the
Company managed its finances prudently by further streamlining its
operations and significantly reduced its cash burn, leading to the
stabilisation of the Company through further consolidation.
The past 12 months have seen Charlton Athletic Community Trust
move into year two of its three- year contract with the Company and
FireDoor Guardian Ltd. progress into its second contract year with
the Company.
Board changes
In July 2019 Tony Sanders, the former Chief Executive Officer
and Chairman, stepped down as a director of the Company and Guy
Meyer, the Business Development Director at the time, assumed the
role of Interim Chief Executive Officer. For corporate governance
best practice, Kevin Everett was appointed Interim Non-Executive
Chairman. Anthony Flynn also joined the Board in July 2019 and
resigned in December 2019.
On 24 April 2020, Kevin Everett stepped down from the Board, and
was replaced by Brian Thompson as Non-executive Chairman. John
Farthing, the Company's Chief Financial Officer, also joined the
Board on 24 April 2020.
Financial Overview
The Company had a net loss for the year of GBP825,230 (2018:
GBP1,106,788). Revenues for the year were GBP102,549 (2018:
GBP157,218).
The Company has a statement of financial position at the
year-end showing net liabilities of GBP727,077 (2018:
GBP891,929).
On 26 March 2020, the Company announced it had agreed a loan
facility of GBP150,000 from Brian Thompson.
The results are presented under European Union Adopted
International Financial Reporting Standards ("EU Adopted
IFRS").
Working capital and fund raisings
During the year, the Company issued 1,145,000,000 new ordinary
shares for a total gross consideration of GBP1,245,000, of which
GBP1,122,810 was received in cash and GBP122,190 to settle existing
liabilities.
Post period end, the Company announced various issuance of
shares, including
On 31 January 2020 the Company significantly improved its
balance sheet through agreeing the settlement of GBP404,250 of
liabilities by converting them into 36,750,000 new ordinary shares
in the Company, also on that date the Company also raised
GBP153,000 through the issue of 38,250,000 new ordinary shares.
On 14 May 2020, the Company raised GBP320,000 through the
subscription of 320,000,000 new ordinary shares
On the 21 May 2020 the Company raised GBP25,000 through the
subscription of 6,250,000 new ordinary shares and a further
GBP65,485 of liabilities were converted into 3,341,057 new ordinary
shares.
On 10 June 2020, the Company raised GBP187,500 through the
exercise of a warrant over 15,000,000 new ordinary shares and on
the same date GBP35,000 of liabilities were converted into
2,083,333 new ordinary shares.
On 12 June 2020, GBP47,000 of liabilities were converted in
2,350,000 new of new ordinary shares concurrent with the raising of
GBP703,000 through the subscription of 37,500,000 new ordinary
shares.
All of the above actions, along with a significant reduction in
operating costs, have given the Company the strongest balance sheet
in recent history with approximately GBP1,046,000 in cash at the
bank on 26 June 2020.
COVID-19
Notwithstanding the current market developments in relation to
the spread of COVID-19 and its impact on the global economy, the
Company has confidence in its business continuity arrangements. At
the end of January 2020, the Company had reduced its premises
rental contract to zero cost by having all employees working
remotely. Currently, where needed, all business meetings are held
using video conferencing platforms. The Company sees that for the
foreseeable future, this will now be standard operational
practice.
Summary
The new Board saw that the stabilisation of the business was
critical in getting the Company to a position where it could reset
its business strategy. The Company is focused on seeking new
opportunities that give shareholders the best chance of a return on
their investments.
The Board is pleased that the business has finally reached a
point where the legacy challenges that it inherited are now well
and truly behind it, giving the Company the bandwidth to focus on
the future.
Brian Thompson
Chairman
Statement of comprehensive income for the year ended 30
September 2019
2019 2018
GBP GBP
Revenue 102,549 157,218
Cost of sales - -
Gross profit 102,549 157,218
Administrative expenses (1,072,233) (1,282,027)
====================================================== ============================
Loss from operations (969,684) (1,124,809)
Net finance expense (1,412) (2,460)
------------------------------------------------------ ----------------------------
Loss before taxation (971,096) (1,127,269)
Taxation credit 145,866 20,481
------------------------------------------------------ ----------------------------
Loss from continuing operations (825,230) (1,106,788)
-
====================================================== ============================
Total comprehensive loss for
the year (825,230) (1,106,788)
------------------------------------------------------ ----------------------------
Basic and diluted loss per share
(pence) (0.03) (0.06)
Statement of financial position at 30 September 2019
2019 2018
GBP GBP
Non-current assets
Intangible assets 1 1
Investments 0 10
------------------------------------------------------ ----------------------
1 11
Current assets
Trade and other receivables 22,948 48,864
Cash and other equivalents 29,508 49,105
------------------------------------------------------ ----------------------
52,456 97,969
------------------------------------------------------ ----------------------
Current liabilities
Trade and other payables (555,629) (674,247)
Interest bearing loans (223,905) (315,662)
------------------------------------------------------ ----------------------
(779,534) (989,909)
Net (liabilities) (727,077) (891,929)
------------------------------------------------------ ----------------------
Capital and reserves
Share capital 3,223,601 2,078,601
Share premium account 17,031,971 16,999,644
Shares to be issued - 187,245
Share reserve (83,333) (83,333)
Merger reserve 11,119,585 11,119,585
Capital redemption reserve 2,732,904 2,732,904
Retained losses (34,751,805) (33,926,575)
------------------------------------------------------ ----------------------
Shareholders' funds (727,077) (891,929)
------------------------------------------------------ ----------------------
Statement of cash flows for the year ended 30 September 2019
Cash flow from operating activities 2019 2018
GBP GBP
Loss for the year (825,230) (1,106,788)
Adjustments for:
Amortisation of intangible assets - -
Net bank and other interest charges 1,412 2,460
Services settled by the issue of shares 120,055 317,513
Issue of share options and warrants charge - 68,126
--------------------- ----------------
Net cash outflow before changes in working
capital (703,763) (718,689)
--------------------- ----------------
(Increase)/Decrease in trade and other
receivables (6,000) 28,272
(Decrease) / Increase in trade and other
payables (182,976) (411,961)
--------------------- ----------------
Cash outflow from operations (892,739) (1,102,378)
Interest received 88 15
Interest paid (1,500) (2,475)
--------------------- ----------------
Net cash flows from operating activities (894,151) (1,104,838)
--------------------- ----------------
Investing activities
Investment in joint venture - (10)
--------------------- ----------------
Net cash flows from investing activities - (10)
--------------------- ----------------
Financing activities
Issue of ordinary share capital 967,810 381,500
Repayment of loan (245,937) (375,090)
New loans raised 152,681 397,725
--------------------- ----------------
Net cash flows from financing activities 874,554 404,135
--------------------- ----------------
Net (decrease) / increase in cash (19,597) (700,713)
Cash and cash equivalents at beginning
of year 49,105 749,818
--------------------- ----------------
Cash and cash equivalents at end of year 29,508 49,105
--------------------- ----------------
Statement of changes in equity for the year ended 30 September
2019
Share Capital Share Premium Shares Other Reserves Retained Total Equity
to be issued Earnings
GBP GBP GBP GBP GBP GBP
============== ============== ============= =============== ============== ===============
Balance at 30 Sept
2017 1,778,768 17,954,376 - 12,602,489 (32,887,913) (552,280)
============== ============== ============= =============== ============== ===============
Loss for the
year - - - - (1,106,788) (1,106,788)
Conclusion of
defaulting
shares issue - (1,166,667) - 1,166,667 - -
Share issue agreed
in advance - - 187,245 - - 187,245
Share capital
issued 299,833 211,935 - - - 511,768
Share options
charge - - - - 68,126 68,126
============== ============== ============= =============== ============== ===============
Balance at 30 Sept
2018 2,078,601 16,999,644 187,245 13,769,156 (33,926,575) (891,929)
-------------- -------------- ------------- --------------- -------------- ---------------
Loss for the year (825,230) (825,230)
Share capital
issued 1,145,000 100,000 (187,245) - - 1,057,755
Share issue costs - (67,673) - - - (67,673)
============== ============== ============= =============== ============== ===============
Balance at 30 Sept
2019 3,223,601 17,031,971 - 13,769,156 (34,751,805) (727,077)
============== ============== ============= =============== ============== ===============
The principal activity of Catenae Innovation Plc is the
provision of multimedia and technology solutions.
Catenae Innovation Plc is incorporated in the United Kingdom
with registration number 04689130. Catenae Innovation Plc is
domiciled in the United Kingdom and has its registered office at 27
Old Gloucester Street, London WC1N 2AX. The principal place of
business for the Company moved after the year ended to 26-27
Lansdowne Terrace, Gosforth, Newcastle Upon Tyne, NE3 1HP.
Catenae Innovation Plc is a public limited company, limited by
shares and its shares are quoted on the AIM market of the London
Stock Exchange.
Catenae Innovation Plc's financial statements are presented in
Pounds Sterling.
1) Principal accounting policies
The principal accounting policies applied in the preparation of
these financial statements are set out below. These policies have
been consistently applied to all the period presented unless
otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with
International Financial Reporting Standards (IFRSs), International
Accounting Standards (IASs) and International Financial Reporting
Interpretations Committee (IFRIC) interpretations (collectively
'IFRSs') as adopted for use in the European Union and as issued by
the International Accounting Standards Board and with those parts
of the Companies Act 2006 applicable to companies reporting under
IFRS.
Going concern
The Company's business activities, together with the factors
likely to affect its future development, performance and position
are set out in the Chairman's statement and below. The financial
position of the Company, its cash flows, liquidity position and
borrowing facilities are described in the financial statements. In
addition, note 16 to the financial statements includes the
Company's objectives, policies and processes for managing its
capital; its financial risk management objectives; details of its
financial instruments; and exposures to credit risk and liquidity
risk.
The net liability position as at 30 September 2019, being the
Company's financial year-end, was GBP727,077 (2018: GBP891,929).
Subsequent to the reporting date, the Board has been able to agree
funding in the form of further share issues raising GBP1.4m in cash
and clearing GBP0.6m worth of creditors through share issue.
The Directors note that the World Health Organisation declared a
pandemic relating to COVID-19 on 11 March 2020, and social
distancing measures were introduced in the UK during March 2020.
The Directors have assessed the impact of incorporating additional
COVID-19 risk factors in the Going Concern assessment over a period
of 18 months after the signing of these financial statements.
Key assumptions considered by management when assessing going
concern include adjusting managements best estimate of forecasted
performance for factors including the length and extent of current
lockdown restrictions, the resulting general business environment,
the speed of recovery of trading after lockdown restrictions ease
and utilisation of relevant government support schemes. These have
been estimated for their respective impacts on the Company's
revenues, fixed and variable costs and resultant expected cash flow
requirements.
The Company's forecasts and projections, taking into account
reasonable estimate of a possible downturn in trading performance
arising from the COVID-19 outbreak, show that the Company has
sufficient financial resources for the going concern period. The
Company does not believe that the COVID-19 outbreak represents a
material uncertainty about the entity's ability to continue as a
going concern. Accordingly, the Directors have adopted the going
concern basis in preparing these consolidated financial
statements.
Revenue recognition
The Company provides software licencing and support
services.
The weighting of these and pricing of these services (which
drives the revenue recognition) depends on the service level
required by the client, and on the commercial imperatives and
pricing sensitivities of the client.
The contractual performance obligations will typically be
embedded in an agreement with the client.
Where that agreement is detailed, the revenue recognition will
follow the allocation of fees and revenues against the completion
of the agreed performance milestones in the accounting period.
Where the agreement is not specific, the revenue recognition
will be in proportion to the completion of performance milestones
in the relevant accounting period against the internal costings
prepared in advance for each project.
(i) Software licencing contracts
Revenue from software licencing contracts is recognised when the
customer takes possession of and accepts the software licence
products which is the point in time when the customer has the
ability to direct the use of the product and obtain substantially
all of the benefits of the products.
(ii) Ongoing support and maintenance contracts
Revenue from ongoing support and maintenance contracts is
recognised over the contractual term when the customer
simultaneously receives and consumes the benefits provided by the
Company's performance, as the Company performs. The Company
recognises contract liabilities for any revenue not yet provided to
the customer as of the year end.
Research and development
Expenditure on research activities is recognised as an expense
in the period in which it is incurred. An internally generated
intangible asset arising from the Company's development activity is
recognised only if all the following conditions are met:
-- an asset is created that can be identified (such as a website);
-- it is probable that the asset created will generate future economic benefits: and,
-- the development cost of the asset can be measured reliably.
Internally-generated intangible assets are amortised on a
straight line basis over their useful lives. Where no
internally-generated intangible asset can be recognised,
development expenditure is recognised as an expense in the period
in which it is incurred.
Intangible assets
Externally acquired intangible assets
Externally acquired intangible assets are initially recognised
at cost and subsequently amortised on a straight-line basis over
their estimated useful economic lives. The amortisation expense is
included within the other administrative expenses line of the
statement of comprehensive income.
Intangible assets are recognised on business combinations if
they are separable from the acquired entity or give rise to other
contractual/legal rights.
Impairment of non-current assets
For the purposes of assessing impairment, assets are grouped
into separately identifiable cash-generating units. At the end of
each reporting period, the Company reviews the carrying amounts of
its non-current assets, to determine whether there is any
indication that those assets have suffered an impairment loss. If
any such indication exists the recoverable amount of the asset is
estimated in order to determine the extent of the impairment loss
(if any).
An impairment loss is recognised for the amount by which the
assets or cash-generating unit's carrying amount exceeds its
recoverable amount. The recoverable amount is the higher of fair
value less costs to sell and value in use based on an internal
discounted cash flow evaluation.
Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and on demand
deposits.
Equity
Equity comprises the following:
-- Share capital represents the nominal value of issued ordinary shares and deferred shares.
-- Share premium represents the excess over nominal value of the
fair value of consideration received for equity shares, net of
expenses of the share issue.
-- Shares to be issued reserve represents cash received for the
purchase of shares yet to be issued at the period end and for
creditors who have agreed to convert their debt to shares yet to be
issued at the period end.
-- Merger reserve represents the excess over nominal value of
the fair value of consideration received for equity shares issued
on acquisition of subsidiaries, net of expenses of the share
issue.
-- Share reserve represents shares held in treasury at nominal
value following the conclusion of the defaulting shares from
October 2016.
-- Capital redemption reserve represents the nominal value of
shares repurchased by the Company.
-- Retained earnings represent retained profits and losses.
Deferred taxation
Recognition of deferred tax assets is restricted to those
instances where it is probable that taxable profit will be
available against which the difference can be utilised.
Financial assets
On initial recognition, financial assets are classified as
either financial assets at fair value through the statement of
profit or loss, held-to-maturity investments, loans and receivables
financial assets, or available-for-sale financial assets, as
appropriate.
Loans and receivables
The Company classifies all its financial assets as trade and
other receivables. The classification depends on the purpose for
which the financial assets were acquired.
Trade receivables and other receivables that have fixed or
determinable payments that are not quoted in an active market are
classified as loans and receivables financial assets. Loans and
receivables financial assets are measured at amortised cost using
the effective interest method, less any impairment loss. Interest
income is recognised by applying the effective interest rate,
except for short-term receivables when the recognition of interest
would be immaterial.
For trade receivables and other receivables due in less than 12
months, the Company applies the simplified approach in calculating
Expected Credit Losses ("ECL's"), as permitted by IFRS 9.
Therefore, the Company does not track changes in credit risk, but
instead, recognises a loss allowance based on the financial asset's
lifetime ECL at each reporting date. For any other financial assets
carried at amortised cost (which are due in more than 12 months),
the ECL is based on the 12-month ECL. The 12-month ECL is the
proportion of lifetime ECLs that results from default events on a
financial instrument that are possible within 12 months after the
reporting date. However, when there has been a significant increase
in credit risk since origination, the allowance will be based on
the lifetime ECL. When determining whether the credit risk of a
financial asset has increased significantly since initial
recognition and when estimating ECLs, the Company considers
reasonable and supportable information that is relevant and
available without undue cost or effort. This includes both
quantitative and qualitative information and analysis, based on the
Company's historical experience and informed credit assessment
including forward-looking information.
Financial liabilities
Financial liabilities are recognised when, and only when, the
Company becomes a party to the contracts which give rise to them
and are classified as financial liabilities at fair value through
the profit and loss or loans and payables as appropriate. The
Company's loans and payable comprise trade and other payables.
When financial liabilities are recognised initially, they are
measured at fair value plus directly attributable transaction costs
and subsequently measured at amortised cost using the effective
interest method other than those categorised as fair value through
income statement.
Fair value through the income statement category comprises
financial liabilities that are either held for trading or are
designated to eliminate or significantly reduce a measurement or
recognition inconsistency that would otherwise arise. Derivatives
are also classified as held for trading unless they are designated
as hedges. There were no financial liabilities classified under
this category.
The Company determines the classification of its financial
liabilities at initial recognition and re-evaluate the designation
at each financial year end.
A financial liability is de-recognised when the obligation under
the liability is discharged, cancelled or expires.
When an existing financial liability is replaced by another from
the same party on substantially different terms, or the terms of an
existing liability are substantially modified, such an exchange or
modification is treated as a de-recognition of the original
liability and the recognition of a new liability, and the
difference in the respective carrying amounts is recognised in the
income statement.
Equity instruments
Equity instruments issued by the Company are recorded as the
proceeds received, net of direct costs.
Share-based payments
When share options and warrants are awarded, the fair value of
the options and warrants at the date of grant is charged to the
statement of comprehensive income over the vesting period.
Non-market conditions are taken into account by adjusting the
number of equity instruments expected to vest at each end of
reporting period, so that, ultimately, the cumulative amount
recognised over the vesting period is based on the number of
options and warrants that eventually vest.
Market conditions are factored into the fair value of the
options and warrants granted. As long as all other vesting
conditions are satisfied, a charge is made irrespective of whether
the market vesting conditions are satisfied. The cumulative expense
is not adjusted for failure to achieve a market vesting
condition.
Where the terms and conditions of options and warrants are
modified before they vest, the increase in fair value of the
options and warrants, measured immediately before and after the
modification, is also charged to the statement of comprehensive
income over the remaining vesting period.
Where equity instruments are granted to persons other than
employees, the full cost of services provided is recognised as a
current liability and as a charge in the statement of comprehensive
income. When shares are issued to settle the obligation, the
liability is extinguished and the share issue is reflected in
equity as an issue of share capital.
Upon exercise of share options and warrants, the proceeds
received net of attributable transaction costs are credited to
share capital, and where appropriate share premium.
New and amended Standards and Interpretations adopted by the
Company
The following standards and interpretations to published
standards have been adopted during the year and have had a
significant impact on the company's accounting policies:
New standard or interpretation EU Endorsement Mandatory effective
status date
IFRS 15 Revenue from contracts
with customers Effective 1 January 2018
IFRS 9 Financial Instruments Effective 1 January 2018
IFRS 15 establishes a comprehensive framework for recognising
revenue and some costs from contracts with customers. IFRS 15
replaces IAS 18, Revenue, which covered revenue arising from sale
of goods and rendering of services, and IAS 11, Construction
contracts, which specified the accounting for construction
contracts.
IFRS 15 also introduces additional qualitative and quantitative
disclosure requirements which aim to enable users of the financial
statements to understand the nature, amount, timing and uncertainty
of revenue and cash flows arising from contracts with
customers.
Under IAS 18, revenue arising from construction contracts and
provision of services was recognised over time, whereas revenue
from sale of goods was generally recognised at a point in time when
the risks and rewards of ownership of the goods had passed to the
customers.
Under IFRS 15, revenue is recognised when the customer obtains
control of the promised good or service in the contract. This may
be at a single point in time or over time. IFRS 15 identifies the
following three situations in which control of the promised good or
service is regarded as being transferred over time:
A. When the customer simultaneously receives and consumes the
benefits provided by the entity's performance, as the entity
performs;
B. When the entity's performance creates or enhances an asset
(for example work in progress) that the customer controls as the
asset is created or enhanced;
C. When the entity's performance does not create an asset with
an alternative use to the entity and the entity has an enforceable
right to payment for performance completed to date.
If the contract terms and the entity's activities do not fall
into any of these 3 situations, then under IFRS 15 the entity
recognises revenue for the sale of that good or service at a single
point in time, being when control has passed. Transfer of risks and
rewards of ownership is only one of the indicators that is
considered in determining when the transfer of control occurs.
(i) Software licencing contracts (within the scope of
IFRS15)
Revenue from software licencing contracts is recognised when the
customer takes possession of and accepts the software licence
products which is the point in time when the customer has the
ability to direct the use of the product and obtain substantially
all of the benefits of the products. Revenue for software licencing
contracts was recognised over the licence term in the comparative
period under IAS18.
(ii) Ongoing support and maintenance contracts (within the scope
of IFRS15)
Revenue from ongoing support and maintenance contracts is
recognised over the contractual term when the customer
simultaneously receives and consumes the benefits provided by the
company's performance, as the company performs. Revenue from
ongoing support and maintenance contracts was recognised on the
same basis in the comparative period under IAS18.
IFRS 9 has not had any material impact on the Company's
financial performance or position since adoption.
New and amended Standards and Interpretations issued but not
effective for the financial year beginning 1 October 2018
At the date of authorisation of these financial statements, the
following standards and interpretations which have not been applied
in these financial statements were in issue but not yet
effective:
IFRS 16 Lease, effective date 1 January 2019 sets out the
principles for the recognition, measurement, presentation and
disclosure of leases for both parties to a contract, i.e. the
customer ('lessee') and the supplier ('lessor'). IFRS 16 completes
the IASB's project to improve the financial reporting of leases and
replaces the previous leases Standard, IAS 17 Leases, and related
Interpretations.
IFRIC 23 "Uncertainty over Income Tax Treatments", effective
date 1 January 2019 clarifies application of recognition and
measurement requirements in IAS 12 Income Taxes when there is
uncertainty over income tax treatments.
IFRS 17 "Insurance Contracts", effective date 1 January 2021
applies a model that combines a current balance sheet measurement
of insurance contracts with recognition of profit over the period
that services are provided.
The impact of the above standards on the financial statements is
expected to be insignificant. The effect of all other new and
amended Standards and Interpretations which are in issue but not
yet mandatorily effective is not expected to be material. The
Directors will continue to monitor the effect of this and should
the effect become material, more detailed notes will be
provided.
2) Loss per share
The calculation of the basic loss per share is based on the loss
attributable to ordinary shareholders divided by the weighted
average number of shares in issue during the year. The calculation
of diluted loss per share is based on the basic loss per share,
adjusted to allow for the issue of shares and the post tax effect
of dividends and interest, on the assumed conversion of all other
dilutive options and other potential ordinary shares.
There were 162,191,116 share options and 1,027,764,797 share
warrants outstanding at the year-end (2018: 162,191,116 and
432,764,797). However, the figures for 2019 and 2018 have not been
adjusted to reflect conversion of these share options, as the
effects would be anti- dilutive.
2019 2018
Weighted Weighted
average number Per share average number Per share
Loss of amount Loss of amount
GBP shares Pence GBP shares Pence
Basic and diluted
loss per share
attributable
to shareholders (825,230) 2,887,505,762 (0.03) (1,106,788) 1,905,297,999 (0.06)
3) Posting of Accounts
The Reports and Accounts of Catenae Innovation Plc have been
posted to shareholders.
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 of the Company.
- Ends -
For further information please contact:
+44 (0)191 580
Catenae Innovation PLC 8545
Guy Meyer, Interim CEO
Cairn Financial Advisers LLP (Nominated Adviser) +44(0)20 7213 0880
Liam Murray / Jo Turner
+44 (0)20 3463
Brandon Hill Capital Limited, Broker 5000
Andy Gutmann +44 (0)78796 8313
+44 (0)20 3004
Yellow Jersey PR (PR & IP) 9512
Sarah Hollins / Annabel Atkins
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
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.
END
FR UKVBRRVUNUAR
(END) Dow Jones Newswires
June 30, 2020 02:00 ET (06:00 GMT)
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