Catenae Innovation PLC Trading Update

Data : 11/09/2019 @ 08:30
Fonte : UK Regulatory (RNS & others)
Titolo : Catenae Innovation Plc (CTEA)
Quotazione : 0.0185  0.0015 (8.82%) @ 16:20
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Catenae Innovation PLC Trading Update

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RNS Number : 8873L

Catenae Innovation PLC

11 September 2019

CATENAE INNOVATION PLC

("Catenae" or the "Company")

Trading Update

Catenae (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that, following the announcement released by the Company on 18 July 2019, despite its investment and sales initiative, revenue in the second half of its financial year will be below management expectations. The Company's targeted sectors are depressed with a reluctance to commit to investment, especially in the wider context of the economic slow-down and current political uncertainty with regards to Brexit.

Consequently, losses for the year will be higher than expected. However, given the recent corporate restructuring and a resultant significant lowering of overheads, the Board is confident in the future of the business.

The Company continues to carefully manage its working capital position and will need to raise further capital in the near future. Further announcements will be made in due course.

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.

For further information:

 
  Catenae Innovation Plc                             Tel: 020 7929 
   Guy Meyer                                          7826 
 
   Cairn Financial Advisers LLP, Nominated Adviser     Tel: 020 7213 
   Liam Murray / Jo Turner                             0880 
 
   Turner Pope Investments (TPI) Limited, Broker       Tel: 020 3621 
   Andrew Thacker                                      4120 
 

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

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(END) Dow Jones Newswires

September 11, 2019 02:30 ET (06:30 GMT)

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