Contract Renewal and Klarian Update
Catenai PLC has renewed its IT services contract with Charlton Athletic Community Trust for another year and provided an update on Klarian Ltd. Klarian is expected to repay Catenai £699,160 plus accrued fees by May 15, 2026, though repayment is not guaranteed. Klarian reports significant progress with its commercial sales pipeline, exceeding £5 million, and is nearing a Statement of Work contract with a global technology solutions provider. Klarian has also received strong interest from two international energy companies for its Virtual Sensor product, Vesta, following successful demonstrations.
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Catenai PLC (AIM: CTAI), the AIM quoted provider of digital media and technology services, announces that it has renewed its IT services contract with Charlton Athletic Community Trust for a further 12 months.
The Company also provides an update on Klarian Ltd ("Klarian"), a company to which Catenai provided a £450,000 unsecured convertible loan note facility ("CLN") as per the announcement of 25 April 2024. Further to the announcements on 7 April 2025, 30 June 2025 and 5 January 2026, the Company has entered into a further extension agreement ("Extension Agreement") with Klarian. Under the terms of the Extension Agreement, Klarian will repay Catenai £699,160 due under the CLN and related fees by 15 May 2026 (the "Repayment") together with an additional fee of 3% per month (or part thereof) which will accrue on the outstanding balance until repayment. There can be no certainty that Klarian will complete the Repayment in full by the Repayment Date.
Klarian has advised the Company that it is in discussions with investors and has made significant advancements with its commercial sales pipeline, which now exceeds £5 million. It is also in the final stages of agreeing a Statement of Work contract with a global provider of technology solutions to companies operating in the energy and natural resources sectors, with whom Klarian has an existing MOU.
Klarian has also informed the Company that it has already conducted product demonstrations with customers of its MOU partner and has received strong interest from two international, upstream energy companies for its recently launched Virtual Sensor product (Vesta), with further discussions now being accelerated. Vesta enables pipeline operators to deploy virtual sensors across their infrastructure at a significantly lower cost than physical sensors, providing enhanced visibility into network performance.
Once the Statement of Work has been signed, the Company will hold an investor webinar with Rob Clegg, CEO of Klarian, via the Investor Meet Company platform. A further announcement confirming the exact date and time for the webinar will be made in due course.
Caution regarding forward looking statements
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