28
October 2024
Catenai PLC
("Catenai", the "Company")
Klarian
update
Catenai PLC (AIM: CTAI), the AIM
quoted provider of digital media and technology, provides an update
on Klarian Ltd ("Klarian"), a company in which Catenai had provided
a £450,000 unsecured convertible loan note facility ("CLN") as per
the announcement 25 April 2024.
In the last couple of months,
Klarian has raised approximately £660,000 at a pre-money valuation
of approximately £10 million. Part of this was raised on its
recent successful Crowd Cube campaign which brought new
shareholders to Klarian.
Klarian has advised that a
significant shareholder, Mr Donald Ross, is expected to shortly be
joining its board as a Non-Executive Director. Mr Ross
invested in the recent round. Mr Ross was a senior VP at SLB
(Schlumberger) (NYSE:SLB) which is a global technology
company.
The
CEO of Klarian, Rob Clegg, commented "We are delighted that
Donald is joining our board following this recent fundraise. He
brings great experience in the oil sector which will compliment our
existing experience in the water sector as well as pipelines
generally. Klarian is now poised for significant growth in
2025."
This announcement contains inside
information for the purposes of the UK Market Abuse Regulation. The
person who arranged for release of this announcement on behalf of
the Company was John Farthing, Interim Chief Executive Officer of
the Company and the Directors of the Company are responsible for
the release of this announcement.
For
further information please contact:
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Catenai PLC
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+44 (0)20
7183 8666
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John Farthing, Interim Chief
Executive Officer
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Cairn Financial Advisers LLP (Nominated
Adviser)
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+44(0)20
7213 0880
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Liam Murray / Jo Turner
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Shard Capital Partners LLP (Broker)
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+44 (0)20
7186 9952
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Damon Heath
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Notes to Editors:
About Catenai PLC
Catenai is an AIM quoted provider of
digital media and technology services. The Company has an
experienced IT team of project managers and integrators who have
deployed systems across corporate, government and educational
sectors.
www.catenaiplc.com
Caution regarding forward looking statements
Certain statements in this
announcement, are, or may be deemed to be, forward looking
statements. Forward looking statements are identified by their use
of terms and phrases such as ''believe'', ''could'', "should"
''envisage'', ''estimate'', ''intend'', ''may'', ''plan'',
''potentially'', "expect", ''will'' or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements reflect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.