TIDMCTEA
RNS Number : 7210K
Catenae Innovation PLC
24 April 2020
24 April 2020
Catenae Innovation PLC
("Catenae", or the "Company")
Directorate Changes
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of
digital media and technology, is pleased to announce the
appointment of Brian Thompson and John Farthing to the Board as
Non-Executive Chairman and Chief Financial Officer, respectively,
with immediate effect.
Kevin Everett, Interim Non-Executive Chairman since 17 July 2019
and Non-Executive Director since 16 May 2013, will step down from
his role with immediate effect, to pursue other business
interests.
Brian Thompson's proposed appointment was announced on 31
January 2020. Mr Thompson is an entrepreneur and is the founder
owner of Newcastle-based B.T.I.C. Ltd, a successful business that
has operated in the insurance industry since 1985. He is also a
director of Third Eye Neurotech Ltd.
John Farthing's appointment as Chief Financial Officer of the
Company was announced on 24 January 2019 and his proposed
appointment to the Board was announced on 23 December 2019. John
qualified as a Chartered Accountant in 1988. Following a career in
stockbroking, John has experience working with both UK listed as
well as private companies. John is also a Chartered Fellow of the
Chartered Institute for Securities & Investment and a Liveryman
of the Worshipful Company of World Traders.
Further disclosure on Brian Thompson and John Farthing pursuant
to Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for
Companies is set out below.
In order to conserve the Company's working capital, the
directors have agreed to take part of their remuneration in
shares.
Guy Meyer, Interim Chief Executive Officer, commented: "I am
delighted to welcome both Brian and John to the Catenae Board at
this important time in our development. Their wealth of experience,
expertise and business network will add considerable value as we
take advantage of potential growth opportunities that are
presenting themselves."
"I would also like to thank Kevin for his contribution to the
Company and I wish him all the very best for the future."
"We look forward to updating the market on future progress in
due course."
Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for
Companies, the following information is disclosed in respect of
Brian William Thompson (aged 64) and John Farthing (aged 57):
In the 5 years preceding the date of this announcement, Brian
Thompson held the following directorships and no partnerships:
Current directorships Past directorships
B.T.I.C. Limited B.T.I.C (Morpeth) Limited
-------------------------------
Little Tinker Limited Third Eye Technologies Limited
-------------------------------
Listenear Limited
-------------------------------
Lyncroft Finance Limited
-------------------------------
Orbi-Tel Limited
-------------------------------
Third Eye Neurotech Limited
-------------------------------
Mr Thompson holds 31,318,797 ordinary shares in the Company,
representing 29.2% of the Company's issued share capital and no
options over ordinary shares in the Company.
In the 5 years preceding the date of this announcement, John
Farthing held the following directorships and partnerships:
Current directorships / partnerships Past directorships / partnerships
Cloisters Capital LLP Beaufort Securities Limited*
-----------------------------------
Trust in Media Limited Charchem Limited
-----------------------------------
Granville West Limited
-----------------------------------
Harper, Deane and Farthing Limited
-----------------------------------
Intoware Limited
-----------------------------------
Kingston Smith Pension Trustees
LLP
-----------------------------------
Kiru Brand Limited
-----------------------------------
Niku Restaurant Company Limited
-----------------------------------
Niku Trading Limited**
-----------------------------------
Signitoff Limited
-----------------------------------
SXN21 Limited
-----------------------------------
*Beaufort Securities Limited, a company of which Mr Farthing was
a director of until 2 March 2018, entered administration on 1 March
2018 and ended administration on 3 March 2020. There was only one
insolvency case.
**Niku Trading Limited, a company of which Mr Farthing was a
director of until 7 October 2016, entered liquidation within one
month of Mr Farthing's tenure as director via a voluntary creditors
liquidation. A liquidator was appointed on 18 October 2016 and the
company was dissolved on 17 September 2019. There was only one
insolvency case.
Crowd Source Solutions Limited, a company of which Mr Farthing
was a director of, was dissolved via a members voluntary
liquidation. A liquidator was appointed on 19 August 2013 and the
company was dissolved on 28 October 2014 via a solvent
liquidation.
Mr Farthing holds 1,341,702 ordinary shares in the Company,
representing 1.25% of the Company's issued share capital and no
options over ordinary shares in the Company.
There is no further information to be disclosed in relation to
the appointments of Brian Thompson and John Farthing pursuant to
AIM Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.
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.
- Ends -
For further information please contact:
Catenae Innovation PLC +44 (0) 191 580 8545
Guy Meyer, Interim Chief Executive Officer
Cairn Financial Advisers LLP (Nominated Adviser) +44 (0)20 7213 0880
Liam Murray
Jo Turner
Brandon Hill Capital Limited Broker +44 (0) 20 3463 5000
Andy Gutmann +44 (0)78796 8313
Yellow Jersey PR (PR & IR) +44 (0)20 3004 9512
Sarah Hollins
Annabel Atkins
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END
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