20th Dec 2019 18:05
(Alliance News) - Digital media and technology firm Catenae Innovations said Friday that it has convened a general meeting for Monday with the hopes of raising new equity finance.
In September, Catenae warned second-half revenue was going to miss its own expectations. This was because, Catenae had said, the firm's target markets are depressed due to a reluctance to invest due to economic and Brexit-related worries in the UK.
"In the event that the resolutions are not passed, the directors will need to urgently seek alternative sources of finance as it is important that significant additional funding is secured in the near term in order to provide a sustainable basis on which the company can continue to operate," the company said.
The stock closed up 15% at 0.02 pence on Friday.
By Arvind Bhunjun; [email protected]
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