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Brand Comms Podcast – Brand CEO Alan Green talks to Catenae Innovation #CTEA CEO Tony Sanders
Brand Comms CEO Alan Green talks to Tony Sanders, CEO of AIM listed Catenae Innovation (CTEA). Tony explains how Catenae have developed a range of blockchain applications for Onside, Onguard and Onsite, an application for multiple commercial processes. Tony talks through a recent contract win: a Firedoor inspection contract, which creates an annual annuity stream plus revenue per transaction. On the recent funding, Tony discusses the management team, which between them have invested over £300k from over the past 2 placings and now own over 7% between them. He explains how the funds will be used for sales and marketing, and how Catenae are one of the few companies around the world already earning money from the commercial application of blockchain in areas other than crypto currency.
Catenae Innovation #CTEA – Placing, Appointment of Joint Broker, Issue of Warrants & Related Party Transaction
Catenae (AIM: CTEA), the AIM-quoted provider of digital media and technology, is pleased to announce a placing and subscription for a total of 575,000,000 new ordinary shares of 0.10 pence per share in the Company at a price of 0.10 pence per share (“Placing Shares”) for gross proceeds of £575,000 (“the Placing”).
The Placing Shares have been issued at the prevailing market mid-price and the Placing includes further investment from an existing institutional investor to maintain its percentage holding.
Certain directors and senior managers have participated in the Placing, which is a related party transaction, further details of which is set out below.
Issue of Warrants
The Company is also issuing one warrant for every one Placing Share issued at an exercise price of 0.125p which may be exercised up to three years from the date of issue. If exercised, the warrant holder will be entitled to receive a further warrant exercisable at 0.15p which may be exercised for a further two-year period (together, the “Placing Warrants”).
The Placing Warrants will not be listed and will be part-issued (approximately 50 per cent.) on Admission of the Placing Shares and part subject to approval of authorities being granted at an Extraordinary General Meeting, notice of which is provided supplementary to this statement.
Appointment of Joint Broker
The Company is pleased to announce that Turner Pope Investments Limited (“TPI”) has been appointed Joint Broker with immediate effect.
The Placing was undertaken by TPI which has agreed to receive the majority of their broking fee in shares at the Placing Price and, accordingly, a further 20,000,000 ordinary shares (“Fee Shares”) will be issued.
Admission
Application will be made for the 595,000,000 new ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 5 March 2019. The 595,000,000 new ordinary shares will rank pari passu with the existing ordinary shares of Catenae.
Following Admission of the Placing Shares and Fee Shares, the Company will have in issue 3,173,601,652 ordinary shares with voting rights. The Company holds 83,333,332 ordinary shares in treasury. The above figure of 3,173,601,652 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.
Related Party Transaction
| Name | Title | Number of shares subscribed for in the Placing | Number of ordinary shares held following the Placing |
| Tony Sanders | Director | 75,000,000 | 107,287,499 |
| Guy Meyer | Director | 15,000,000 | 110,458,292 |
| Alan Simpson | Chief Technology Officer | 10,000,000 | 26,667,667 |
| John Farthing | Chief Financial Officer | 10,000,000 | 18,333,334 |
| Total | 110,000,000 | 262,746,792 |
The issue of shares to Tony Sanders, Guy Meyer, Alan Simpson and John Farthing is a related party transaction pursuant to AIM Rule 13 (the “Transaction”). Kevin Everett, a director of the Company who is independent of the Transaction, having consulted with Cairn Financial Advisers LLP, the Company’s nominated adviser, believes that the terms of the transaction are fair and reasonable insofar as shareholders are concerned.
Tony Sanders – CEO commented: “We are pleased to receive this additional support at an important time for the Company’s development strategy and Catenae will invest a substantial proportion of the Placing funds in sales and marketing initiatives to help secure existing opportunities and develop the sales pipeline.”
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 Tony Sanders (Chief Executive Officer).
For further information:
| Catenae Innovation Plc Tony Sanders |
Tel: 020 7929 7826 |
|
Cairn Financial Advisers LLP, Nominated Adviser |
Tel: 020 7213 0880 |
|
Alexander David Securities Limited, Joint Broker |
Tel: 020 7448 9820 |
|
Turner Pope Investments Limited, Joint Broker |
Tel: 020 3621 4120 |
| Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | |||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||
| a. | Name |
|
|||||
| 2 | Reason for notification | ||||||
| a. | Position/Status |
|
|||||
| b. | Initial notification/ Amendment |
Initial notification | |||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
| a. | Name | Catenae Innovation plc | |||||
| b. | LEI | 2138007I2D8YWPMSP544 | |||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||
| a. | Description of the financial instrument, type of instrument
Identification Code |
Ordinary shares of 0.10 pence per share
ISIN: GB0033127910 |
|||||
| b. | Nature of the transaction | Issue of shares in the Placing | |||||
| c. | Price(s) and volume(s) | ||||||
| Price(s) per share | Volume(s) | ||||||
| 0.10p | a) 75,000,000 b) 15,000,000 c) 10,000,000 d) 10,000,000 |
||||||
| d. | Aggregated information
– Aggregated Volume – Price |
110,000,000 0.10p |
|||||
| e. | Date of the transaction | 27 February 2019 | |||||
| f. | Place of the transaction | AIM, London Stock Exchange | |||||
Catenae Innovation #CTEA – Changes to Senior Management Team and Board
Catenae (AIM: CTEA), the AIM quoted provider of digital media and technology announces the following changes to its senior Management team and Board.
Proposed appointment of Alan Simpson CTO to the Executive Board
Alan is a highly regarded technologist with vast experience in a number of high-profile projects in a career ranging from Military Cryptologist through to those projects which can be publicly named such as being the Technical Delivery Manager for BBC’s flagship iPlayer project. Alan joined the Company in June 2018 and has been responsible for the delivery of technical projects within the Company including Sequestrum, its DLT/Blockchain platform, and the recently launched Onsite. This appointment recognises the contribution and commitment Alan has shown to the Company. This, combined with his broad technical expertise, and commercial experience will be a welcome addition to the Board. A further announcement providing information pursuant to AIM Rule Schedule 2(g) will be made in due course.
Appointment of John Farthing Chief Financial Officer
The Company will promote John Farthing from his current position within its subsidiary Trust in Media to become the Company’s Chief Financial Officer. John qualified as a Chartered Accountant in 1988 following which he moved to stockbroking, gaining significant experience with start-ups and smaller companies with a focus in the software and technology sectors. Mr Farthing is also a Chartered Fellow of the Chartered Institute for Securities & Investment, having been involved in corporate acquisitions and disposals as well as fund raising. John will report to the Board and be responsible for day to day financial operations and strategic input, augmenting the existing governance and financial controls. This is a non-Board appointment.
Tony Sanders CEO, commented;
“The Company has reached the stage in its development where it now has commercially viable product lines, demonstrably capable of delivering revenues. It is essential that the team are focussed on executing a robust sales and marketing strategy to deliver these revenues. With this in mind, the Board wants to ensure it has the correct management team in place with the right skillsets to enable the Company to concentrate on delivering its true potential. The above appointments will be augmented with suitably qualified Sales Management in the very near future. Obviously, we are very conscious of managing our cost base and can confirm that as a result of these and other changes within the Company, the net effect on the cost base is neutral.”
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 Tony Sanders (Chief Executive Officer).
For further information:
| Catenae Innovation Plc
Tony Sanders |
Tel: 020 7929 7826 |
|
Cairn Financial Advisers LLP, Nominated Adviser Liam Murray / Jo Turner |
Tel: 020 7213 0880 |
|
Alexander David Securities Limited, Broker David Scott / James Dewhurst |
Tel: 020 7448 9820 |
Catenae Innovation #CTEA – Issue of Equity and Directors dealings
Catenae (AIM:CTEA), the AIM-quoted provider of digital media and technology, is pleased to announce that it has agreed to issue a total of 500,000,000 new Ordinary shares of 0.10 pence per share in the Company at a price of 0.12 pence per share.
The Company will raise £524,945 in cash through the issue of 437,454,167 Subscription Shares. An institutional investor is subscribing for 300,000,000 shares, the Management and Directors of the Company are subscribing for 120,787,500 shares (which includes 16,666,667 shares within existing creditor shares figure below) with remaining 33,333,333 being subscriptions from new and existing shareholders. The Company will settle an existing creditor balance of £75,055 through the issue of 62,545,833 Shares.
Related Party Subscriptions:
Subscribed Previous holding Resultant holding
Edward Guy Meyer 83,333,334 12,124,958 95,458,292
Anthony Sanders 4,120,832 28,166,667 32,287,499
Alan Simpson* 16,666,667 0 16,666,667
*CTO classed as PDMR
The 500,000,000 new ordinary shares will rank pari passu with the existing Ordinary shares of Catenae.
Application will be made for the 500,000,000 new Ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 7 November 2018.
Following the issue, the Company will have in issue 2,578,601,652 Ordinary shares with voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.
Related Party Transaction
The issue of Subscription Shares to Directors A Sanders, E G Meyer and A Simpson as per the table above is a related party transaction pursuant to AIM Rule 13. Kevin Everett, a director of the Company who is independent of the transaction, having consulted with the Company’s nominated adviser believes that the terms of the transaction are fair and reasonable insofar as shareholders are concerned.
Tony Sanders – CEO: “The Company is at an interesting stage of its development underlined by the support of the senior management and Directors. Furthermore, we are pleased to complete this placing at a premium and welcome the support from the large UK based institutional investor, specialising in Tech companies, who has taken a significant stake in the business.”
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 Tony Sanders (Chief Executive Officer).
For further information:
Catenae Innovation Plc
Tony Sanders
Tel: 020 7929 7826
Cairn Financial Advisers LLP, Nominated Adviser
Liam Murray / Jo Turner
Tel: 020 7213 0880
Alexander David Securities Limited, Broker
David Scott / James Dewhurst
Tel: 020 7448 9820
Blockchain – which do you choose VHS or Beta?
No sooner do most retail market investors finally understand the difference between cryptocurrency and blockchain, (simply put crypto needs blockchain, blockchain doesn’t need crypto), than the timely debate starts as to which platforms are actually commercially viable.
With Bitcoin and Ethereum taking up the most column inches, the uninitiated could easily believe they are the only platforms out there.
Whilst they are arguably the most popular names in the public blockchain arena, there are many other public and private platforms offering distributed ledger technology (DLT), each with their own strengths and weaknesses.
As you can probably guess, given the title the only certainty is that they don’t talk to each other. Older readers will of course remember the hackneyed comparison and discussions regarding VHS (JVC) and Betamax (Sony) home video recorder systems in the dim and distant past. While it would be nice to think that we we’ve learnt something about technical standards in that time, it appears not to be the case – after all who really needs interoperability anyway?
Accenture’s press release (1) earlier this month details its approach to enable two or more disparate blockchains to have some form of communication whether this be transfer of a tokenised asset or data mapping different blocks across different blockchains. The devil is of course in the detail, but this is obviously a move in the right direction; anything that helps bring together two organisations with different technical solutions and / or with disparate requirements must be good.
Interoperability is key to the take-up of DLT technology. Therefore, the ability to run an application on a DLT platform, any DLT platform is a key consideration with solutions like Sequestrum our Universal Digital Repository application (2). The universal element here was designed in from day one, we wanted to achieve an application that had near zero barrier to entry, an application that could be added to legacy systems to provide that immutable proof of record whether the use case be for copyright, audit or governance, without have to re-engineer vast swaths of code.
It was equally important that the application could sit on top of the client’s choice of DLT platform. Taking the approach adopted by some of the application development frameworks, we looked to separate the application from the DLT platform, choosing to interface these via an application programming layer (API). Not a new solution, but very flexible. In theory this API layer acts like the Babel fish, allowing two incompatible elements to communicate, sometimes easily, sometimes with a bit more complexity. In this case allowing the application to remain agnostic to whichever platform it is accessing its data from.
Sequestrum is fully owned by us at Catenae Innovation (CTEA.L), is already listed on the LSE and is in many ways well ahead of Silicon Valley as a proven, cash generating offering.
Developed by Alan Simpson, better known for building and launching the BBC iPlayer, Sequestrum is currently being developed on two private DLT blockchain platforms and is a leap forward both in being both cost effective to the end user and ultra efficient compared to current solutions.
Our next client implementation is based on a Hyperledger platform, after all if it’s good enough for IBM!
We may yet have to deliver the modern age equivalent of the morphing tape cartridge to fit all the VCRs in the world, but the Catenae team are more than happy that Sequestrum is a good start.
by Tony Sanders
Links
https://newsroom.accenture.com/news/accenture-enables-interoperability-between-major-blockchain-platforms.htm
https://www.catenaeinnovation.com/products-and-services/p/sequestrum
From iPlayer to High Speed Blockchain. Alan Simpson, CTO at Catenae Innovation (CTEA) tells all.
Alan Simpson is CTO for AIM listed Catenae Innovation CTEA, a technology company that has built a unique, high-speed Blockchain application which is already used across multiple industry sectors. As such, Catenae is the only UK listed technology company with the ability to generate revenues from blockchain products. Alan is an IT professional with 34 years experience as a developer and cryptographer, and has worked on numerous commercial and military applications. He is however best known for developing and launching the ubiquitous BBC iPlayer. Here, with Alan Green of Brand Communications, Alan discusses blockchain and cryptocurrency, and explains how Catenae’s unique high-speed blockchain product works across multiple industry sectors. Episode 1.
ShareProphets – Catenae Innovation #CTEA proof-of-concept agreements & management appointments all good – BUY
Catenae Innovation (CTEA) has updated including proof-of-concept agreements for its Trust in Media joint venture and its ‘OnSide Pro’ solution and management appointments…
The former is with “a leading provider of rights included music”, with the Digital Asset Registration and Transactional Tracking system – the first phase of a distributed ledger-based (DLT/Blockchain) application development – having been successfully demonstrated at B2B music event, MIDEM. There is then also an agreement with Aston Villa FC for OnSide Pro – which is to be used to manage a number of coaching sessions and community engagements.
There are no financial indicators provided, but these follow a recent “first agreement for the provision of Trust in Media’s Fanbase service to one of the UK’s largest entertainment promoters representing some major names in the music industry” and further help confidence in annual pre and post tax profits of several hundred thousand pounds by as soon as next year we suggested possible in our March share tip.
This is further the case with Tony Sanders now confirmed as permanent CEO and experienced technologist (including being the Technical Delivery Manager for BBC’s iPlayer project), Alan Simpson, joining as Chief Technology Officer.
The shares have slipped back since we last updated and there remains clear turnaround risk. However, we also reiterate that there looks some exciting potential from the current sub £3 million market cap – both speculatively (e.g. the shares have previously touched 0.7p+ on a blockchain spike) and more fundamentally (the profit potential from sound businesses in growth areas). As such, at 0.15p or better – and looking to sell at comfortably above 0.2p – the stance remains buy.
View the article at ShareProphets website here
Catenae Innovation #CTEA – Trust in Media signs Proof of Concept Agreement, Aston Villa FC signs Proof of Concept Agreement & Alan Simpson appointed as CTO
Catenae (AIM:CTEA), the AIM quoted provider of digital media and technology, is pleased to announce:-
-
that its joint venture subsidiary, Trust in Media Ltd has demonstrated the first phase of their Music industry Blockchain application and signed a proof of concept agreement;
-
it has signed a proof of concept agreement with Aston Villa Football Club for the Company’s OnSide Pro solution;
-
senior appointments to the team.
TRUST IN MEDIA DEMONSTRATES FIRST PHASE OF MUSIC INDUSTRY BLOCKCHAIN APPLICATION AND SIGNS PROOF OF CONCEPT AGREEMENT
Trust in Media (“TiM”) has successfully demonstrated their Digital Asset Registration and Transactional Tracking system, the first phase of their distributed ledger based application development (DLT / Blockchain). Alan Simpson (Catenae) and Martin Heath (Trust in Media) demonstrated the system at MIDEM (Marché International du Disque et de l’Edition Musicale) in Cannes on 5 – 8 June 2018. MIDEM is an international B2B music event for key players in the music ecosystem.
As a result, TiM is pleased to confirm the signing of a proof of concept project agreement with a leading provider of rights included music to trial the embedding of the Digital Asset Registration and Transactional Tracking technology within the providers operations. This allows the provider to record digital assets rights information for individual music tracks and capture the playout details of those assets when they are streamed or downloaded.
ASTON VILLA SIGN PROOF OF CONCEPT AGREEMENT
Catenae is pleased to announce that it has signed a proof of concept agreement with Aston Villa Football Club (“AVFC”) for the Company’s OnSide Pro solution.
Under the agreement, Aston Villa’s Foundation will be utilising OnSide, Catenae’s GDPR compliant solution, to manage a number of coaching sessions and community engagements. OnSide will be used to gather various data points including attendance information, training plans as well as diversity and inclusion data for participants to assist in assessing social outcome reporting. It will also be used for time recording, health and safety and risk assessment reporting. The proof of concept programme is expected to run for 8 weeks, after which a decision will be made regarding the long term adoption of OnSide within the club.
SENIOR APPOINTMENTS
Alan Simpson – CTO
Alan Simpson has joined the Company as Chief Technology Officer. Alan is a highly regarded technologist with experience gained on a number of high-profile projects, including being the Technical Delivery Manager for BBC’s iPlayer project. Alan will be responsible for strategy and delivery of technical projects across the group including Trust in Media’s Digital Asset Registration and Transactional Tracking and Payment system which utilises converged private and public distributed ledger technology (Blockchain).
Tony Sanders – CEO
The Board announces that Tony Sanders has been appointed permanent Chief Executive Officer of the Company, Tony had been appointed Interim CEO in September 2017.
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 Tony Sanders (Chief Executive Officer).
For further information:
| Catenae Innovation Plc Tony Sanders |
Tel: 020 7929 7826 |
| Cairn Financial Advisers LLP, Nominated Adviser Liam Murray / Jo Turner |
Tel: 020 7213 0880 |
| Cornhill Capital, Broker Daniel Gee |
Tel: 020 3700 2500 |
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Catenae Innovation P.L.C. via Globenewswire