Catena Group PLC Proposed Equity Subscription (3698A)
September 29 2020 - 2:00AM
UK Regulatory
TIDMCTNA
RNS Number : 3698A
Catena Group PLC
29 September 2020
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
29 September 2020
Catena Group PLC
("Catena" or the "Company")
Proposed Equity Subscription
Catena Group plc (AIM: CTNA), the AIM listed investment vehicle,
announces its intention to conduct a subscription of not less than
500,000 new ordinary shares of 1 pence each in the Company
("Subscription Shares") at a price of 50.0 pence per Subscription
Share to raise a total of not less than GBP250,000 (the
"Subscription"). The net proceeds of the Subscription will be used
to provide working capital to the Company in support of its
potential acquisition of Insight Capital Partners Limited
("Insight"), the data science and machine learning solutions
company. As reported on 3 September 2020, Catena has begun
discussions with the CEO of Insight with respect to Catena
potentially acquiring the balance of the issued share capital of
Insight.
Any potential acquisition of the balance of the issued share
capital of Insight by Catena would constitute a reverse takeover
under the AIM Rules and, as a result, Catena's shares were suspend
effective 3 September 2020 until such time that: it has published
the Admission Document; or any discussions relating to the
potential purchase of the balance of the issued share capital of
Insight have ceased. The Subscription Shares will not therefore be
admitted to trading on the AIM Market until such time that the
current temporary suspension to trading of Catena's shares is
lifted.
The Subscription Price represents a 15.3 per cent. discount to
the closing price of Catena's shares on 2 September 2020, being the
last trading day before the Company's shares were termporarily
suspended from trading on the AIM Market.
* ENDS *
This announcement has been released by Matthew Farnum-Schneider,
Chief Executive, on behalf of Catena.
For further information, please visit www.catenagroup.co.uk or
contact:
Catena Group PLC
Matthew Farnum-Schneider +44 (0)20 3744 0900
Zeus Capital Limited (Nominated Adviser
& Broker)
David Foreman / Daniel Harris / Benjamin
Robertson +44 (0) 203 829 5000
Newgate (Financial PR) +44 (0) 7540 106 366
Giles Croot / Robin Tozer catena@newgatecomms.com
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END
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