26th Oct 2026 12:03
(Correcting that the application to appoint an administrator to Karian was filed by Innovate UK Loans Ltd, not Catenai.)
Catenai PLC - The digital media and technology services provider says Innovate UK Loans Ltd has filed an application with the UK High Court to appoint an administrator to Klarian Ltd, which owes Catenai approximately GBP762,000 under an unsecured convertible loan note and accrued fees as at June 30. Innovate UK Loans submitted the application on October 16. Catenai originally provided Klarian with a GBP450,000 convertible loan facility in April 2024, with a repayment of GBP699,160 due by July 1 this year. However, the company has not received repayment, and no further extension has been agreed. Interim Chief Executive John Farthing says the company is "disappointed" by the development, having understood that Klarian was seeking additional investment from existing investors.
By Tom Waite, Alliance News editor
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