Catenai stock falls amid extension deal for Klarian repayment
Catenai PLC on Monday said it has entered a further extension agreement with Klarian Ltd, to which it previously provided a £450,000 unsecured convertible loan note facility.
The stock was down 6.8% at 0.22 pence on Monday in London.
The London-based digital media and technology company announced the original CLN facility in late April, 2024. It then said in early April last year that Klarian intended to repay the CLN and relevant fees, amounting to £567,500, by the end of June. Then on June 30, alongside its final results for 2024, Catenai and Klarian entered an extension agreement for Klarian to repay the full amount due by December 31.
Catenai on Monday said that under the terms of the new extension agreement, Klarian will repay the £624,250 now due under the CLN and related fees by March 31.
If Klarian repays the money after February 28, it will owe Catenai an additional £74,910 extension fee. Catenai will receive a proportion of this fee if Klarian completes repayment before the end of February.
Catenai also announced its intention to hold an investor webinar, with Klarian Chief Executive Officer Rob Clegg, which ‘will provide an opportunity for Klarian to introduce its business to Catenai’s shareholders and summarise its positive progress through 2025’.
Catenai said it will announce the exact date and time of the webinar in due course.
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