CATENAE INNOVATION PLC
("Catenae" or the "Company")
Company Update and Issue of Equity
Catenae (AIM: CTEA), the AIM quoted provider of digital media and
technology is pleased to announce new contracts, changes to its senior
Management team and an Issue of Equity.
OnSide is a centralised management tool specifically developed for
sports organisations. It deals with all the key elements of community
coaching from scheduling of staff and timesheet processing through to
attendee management and reporting in a GDPR compliant platform.
Bradford City FC - The Company has entered into a proof of concept
agreement with Bradford City FC Community Foundation ("Bradford"). It is
anticipated that, on successful completion of the proof of concept,
Bradford will convert the programme to a full agreement. A further
announcement regarding this will be made in due course. This brings the
number of Football and Rugby clubs who have entered into agreements with
the Company to six with ongoing conversations with a number of others.
3rd Sector Charity -- The Company has also entered into its first
agreement for OnSide within a non-sports related charity sector. The
charity has identified OnSide as providing the management and reporting
functionality it requires to prove outcomes within its funding model.
The requirement utilises the Mentor management module that was released
in the most recent OnSide product update.
Appointment of Head of Sales
The Company is pleased to announce the appointment of Nick Delacamp as
Head of Sales. Nick brings a wealth of experience building sales
organisations to deliver sustainable annuity revenues at organisations
such as BT Global Services.
One of Nick's first actions has been the appointment of a leading
marketing partner to engage targeted organisations focussed upon the
core sectors for the "OnSuite products" (i.e. OnSite, OnGuard and
Issue of Equity
The Company has agreed to issue a total of 50,000,000 new ordinary
shares of 0.1 pence per share in the Company at a price of 0.1 pence per
share, settling GBP50,000 of creditor balances.
The 50,000,000 new ordinary shares will rank pari passu with the
existing ordinary shares of Catenae. Application will be made for the
50,000,000 new ordinary shares to be admitted to trading on AIM, which
is expected to occur on or around 28 May 2019.
Following the issue, the Company will have in issue 3,223,601,652
Ordinary shares with voting rights. The above figure may be used by
shareholders as the denominator for calculations by which they will
determine if they are required to notify their interest in, or a change
to their interest in, the Company under the Disclosure and Transparency
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, Joint Broker Tel: 020 7448 9820
David Scott / James Dewhurst
Turner Pope Investments Limited, Joint Broker Tel: 020 3621 4120
(END) Dow Jones Newswires
May 22, 2019 02:01 ET (06:01 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.