11th Sep 2019 07:30
CATENAE INNOVATION PLC
("Catenae" or the "Company")
Trading Update
Catenae (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that, following the announcement released by the Company on 18 July 2019, despite its investment and sales initiative, revenue in the second half of its financial year will be below management expectations. The Company's targeted sectors are depressed with a reluctance to commit to investment, especially in the wider context of the economic slow-down and current political uncertainty with regards to Brexit.Consequently, losses for the year will be higher than expected. However, given the recent corporate restructuring and a resultant significant lowering of overheads, the Board is confident in the future of the business.
The Company continues to carefully manage its working capital position and will need to raise further capital in the near future. Further announcements 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 Guy Meyer | Tel: 020 7929 7826 |
Cairn Financial Advisers LLP, Nominated Adviser Liam Murray / Jo Turner |
Tel: 020 7213 0880 |
Turner Pope Investments (TPI) Limited, Broker Andrew Thacker |
Tel: 020 3621 4120
|
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