Business
Proposed Issue of Warrants
Proposed Issue of Warrants.
About this update from Catenai Plc
[{"type":"text","content":"\n\n6 May 2025\n \nCatenai PLC\n \n(\"Catenai\" or the \"Company\")\n \nProposed Issue of Warrants\n \nCatenai PLC (AIM: CTAI), the AIM quoted provider of digital media and technology, announces that the Company has agreed to issue Sarfraz Munshi, Non-Executive Director of the Company, warrants over 42,500,000 new ordinary shares in the Company (\"Warrants\") in lieu of director remuneration. The Warrants have an exercise price of 0.35 pence per share (being a 16.7 per cent. discount to the mid-market closing price on 2 May 2025) and can be exercised for a period of 18 months from the date of grant.\n \nThe Warrants are conditional on the Company receiving shareholder approval of sufficient allotment authorities at the forthcoming annual general meeting.\n \nThe Company has carefully managed its cash position, and as such, Sarfraz Munshi has not taken a salary since his appointment as Non-Executive Director in March 2024. Mr Munshi has spent significant time on the Company's affairs, far greater than that expected of a non-executive director, since his appointment. Mr Munshi has agreed to forgo remuneration owed to him for the last 12 months. More importantly, this proposed issue of Warrants would align his interests with that of shareholders in the Company.\n \n \nThis 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.\n \nFor further information please contact:\n \n\n\n\n\nCatenai PLC\n\n\n+44 (0)20 7183 8666\n\n\n\n\nJohn Farthing, Interim Chief Executive Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCairn Financial Advisers LLP (Nominated Adviser)\n\n\n+44(0)20 7213 0880\n\n\n\n\nLiam Murray/Ludovico Lazzaretti/James Western\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nShard Capital Partners LLP (Broker)\n\n\n+44 (0)20 7186 9952\n\n\n\n\nDamon Heath\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \nNotes to Editors:\n \nAbout Catenai PLC\nCatenai is an AIM quoted provider of digital media and technology services. The Company specialises in IT solutions that solve commercial challenges and create opportunities for its clients, with...