Klarian CLN Update
Catenai PLC has provided an update on its £450,000 unsecured convertible loan note facility with Klarian Ltd, which was due for repayment on July 1, 2026, along with accrued fees. The company is currently in discussions with Klarian to agree on a further extension to this repayment date, acknowledging that there is no certainty of full repayment. Despite this, Catenai's board remains positive about Klarian's progress, citing its business plan, potential fundraise, and a commercial sales pipeline exceeding £5 million.
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Catenai PLC (AIM: CTAI), the AIM quoted provider of digital media and technology services, announces an update relating to 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.
On 22 May 2025, the Company confirmed that it had entered into a further extension agreement ("Extension Agreement") with Klarian, whereby Klarian agreed to repay Catenai £699,160 due under the CLN and related fees as at 1 April 2026 (the "Repayment"), by 1 July 2026 (the "Repayment Date") together with an additional fee of 3% per month (or part thereof) which accrue on the outstanding balance until repayment.
Catenai is currently in discussions with Klarian to agree a further extension to the Repayment Date and will update the market as soon as this is finalised.
There can be no certainty that Klarian will complete the Repayment in full. However, as disclosed in recent Company announcements, the Board is positive about the progress Klarian is making having had access to Klarian's business plan, the details of its potential fundraise and its £5 million-plus commercial sales pipeline.
Caution regarding forward looking statements
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.