Catenae Innovation (LSE:CTEA)
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6 Meses : De Jul 2019 a Ene 2020
RNS Number : 8873L
Catenae Innovation PLC
11 September 2019
CATENAE INNOVATION PLC
("Catenae" or the "Company")
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 Tel: 020 7929
Guy Meyer 7826
Cairn Financial Advisers LLP, Nominated Adviser Tel: 020 7213
Liam Murray / Jo Turner 0880
Turner Pope Investments (TPI) Limited, Broker Tel: 020 3621
Andrew Thacker 4120
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(END) Dow Jones Newswires
September 11, 2019 02:30 ET (06:30 GMT)