CATENAE INNOVATION PLC
("Catenae" or the "Company")
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
For further information:
Catenae Innovation Plc Tel: 020 7929 7826
Cairn Financial Advisers LLP, Nominated Adviser Tel: 020 7213 0880
Liam Murray / Jo Turner
Alexander David Securities Limited, Broker Tel: 020 7448 9820
David Scott / James Dewhurst
(END) Dow Jones Newswires
February 01, 2019 02:00 ET (07:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.