Catenae Innovation PLC Update re Working Capital & Balance Sheet (4807Z)
10 Gennaio 2020 - 1:23PM
UK Regulatory
TIDMCTEA
RNS Number : 4807Z
Catenae Innovation PLC
10 January 2020
Catenae Innovation PLC
("Catenae" or the "Company")
Update re working capital and balance sheet
The Company provides an update following the announcement made
on 23 December 2019 which included a statement about its working
capital position.
Discussions with a number of parties in respect of securing
immediate funding, by way of a placing or short term debt, are
continuing and the directors are optimistic that funding of up to
GBP100,000 is available to it. The Company is also in discussions
with its creditors who are supportive of the Company and the
directors consider that the financial position has stabilised since
the announcement of 23 December 2019 such that the Company can
continue to trade while it concludes the discussions in respect of
the fundraising, which it expects to do in the next two weeks.
There is no guarantee that these current discussions will result
in new funding being secured or that the terms of any such
agreement will be favourable to the Company and its shareholders.
In the event that further funding cannot be secured, then the
Company will need to consider commencing insolvency
proceedings.
A further announcement 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
Tel: 020 3657 0050
Turner Pope Investments (TPI) Limited, Broker
Andrew Thacker / Zoe Alexander
Forward-Looking Statements
Certain statements made in this announcement are forward-looking
statements. These forward-looking statements are not historical
facts but rather are based on the Company's current expectations,
estimates, and projections about its industry; its beliefs; and
assumptions. Words such as 'anticipates,' 'expects,' 'intends,'
'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions
are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties, and other factors, some
of which are beyond the Company's control, are difficult to
predict, and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements.
The Company cautions security holders and prospective security
holders not to place undue reliance on these forward-looking
statements, which reflect the view of the Company only as of the
date of this announcement. The forward-looking statements made in
this announcement relate only to events as of the date on which the
statements are made. The Company will not undertake any obligation
to release publicly any revisions or updates to these
forward-looking statements to reflect events, circumstances, or
unanticipated events occurring after the date of this announcement
except as required by law or by any appropriate regulatory
authority.
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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January 10, 2020 07:23 ET (12:23 GMT)
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