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On 28 October 2024, Catenai PLC announced that Klarian Ltd, a company to which Catenai had provided a £450,000 unsecured convertible loan note facility, has raised approximately £660,000 at a pre-money valuation of approximately £10 million in recent months. Klarian advised that significant shareholder Mr Donald Ross, an investor in the recent funding round, is expected to shortly join its board as a Non-Executive Director.
| Date | 28 Oct 2024 |
| Time | 07:00:06 |
| Category | Corporate updates |
| ID | 7711J |
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 |
+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) |
+44(0)20 7213 0880 |
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Liam Murray / Jo Turner |
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Shard Capital Partners LLP (Broker) |
+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.
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.