Catenae Innovation Plc: Issue Of Equity
01 November 2018 - 6:00PM
UK Regulatory
TIDMCTEA
CATENAE INNOVATION PLC
("Catenae" or the "Company")
Issue of Equity and Directors dealings
Catenae (AIM:CTEA), the AIM-quoted provider of digital media and
technology, is pleased to announce that it has agreed to issue a total
of 500,000,000 new Ordinary shares of 0.10 pence per share in the
Company at a price of 0.12 pence per share.
The Company will raise GBP524,945 in cash through the issue of
437,454,167 Subscription Shares. An institutional investor is
subscribing for 300,000,000 shares, the Management and Directors of the
Company are subscribing for 120,787,500 shares (which includes
16,666,667 shares within existing creditor shares figure below) with
remaining 33,333,333 being subscriptions from new and existing
shareholders. The Company will settle an existing creditor balance of
GBP75,055 through the issue of 62,545,833 Shares.
Related Party Subscriptions
Subscribed Previous holding Resultant
holding
Edward Guy Meyer 83,333,334
12,124,958 95,458,292
Anthony Sanders 4,120,832
28,166,667 32,287,499
Alan Simpson* 16,666,667
0 16,666,667
(*CTO classed as PDMR)
The 500,000,000 new ordinary shares will rank pari passu with the
existing Ordinary shares of Catenae.
Application will be made for the 500,000,000 new Ordinary shares to be
admitted to trading on AIM, which is expected to occur on or around 7
November 2018.
Following the issue, the Company will have in issue 2,578,601,652
Ordinary shares with voting rights. The above figure may be used by
shareholders as the denominator for the 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
Rules.
Related Party Transaction
The issue of Subscription Shares to Directors A Sanders, E G Meyer and A
Simpson as per the table above is a related party transaction pursuant
to AIM Rule 13. Kevin Everett, a director of the Company who is
independent of the transaction, having consulted with the Company's
nominated adviser believes that the terms of the transaction are fair
and reasonable insofar as shareholders are concerned.
Tony Sanders - CEO
"The Company is at an interesting stage of its development underlined by
the support of the senior management and Directors. Furthermore, we are
pleased to complete this placing at a premium and welcome the support
from the large UK based institutional investor, specialising in Tech
companies, who has taken a significant stake in the business."
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
Executive Officer).
For further information:
Catenae Innovation Plc Tel: 020 7929 7826
Tony Sanders
Cairn Financial Advisers Tel: 020 7213 0880
LLP, Nominated Adviser
Liam Murray / Jo Turner
Alexander David Securities Tel: 020 7448 9820
Limited, Broker
David Scott / James Dewhurst
(END) Dow Jones Newswires
November 01, 2018 03:00 ET (07:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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