Klarian Update
Catenai PLC has announced that Klarian Ltd, to which Catenai provided a £450,000 unsecured convertible loan note facility, has had an application for administration filed against it. Klarian failed to make a repayment of approximately £762,084, including accrued fees as at June 30, 2026, by the agreed July 1, 2026 deadline, and no further extension has been agreed. Catenai is disappointed by this development, especially as they understood Klarian was in discussions to raise additional investment.
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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.
It has been brought to the Company's attention that, on 16 October 2026, an application for the appointment of an administrator in respect of Klarian was filed at the UK High Court of Justice, Business and Property Courts of England and Wales (Insolvency and Companies List) by Innovate UK Loans Limited.
On 22 May 2026, the Company announced that it had entered into a further extension agreement with Klarian, under which 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) accruing on the outstanding balance until repayment. As announced on 14 July 2026, the Repayment was not made by the Repayment Date and the Company has since been in discussions with Klarian regarding a further extension. No further extension has been agreed and no part of the Repayment has been received as at the date of this announcement.
As at 30 June 2026, the amount due to the Company under the CLN, including accrued fees, is approximately £762,084. The CLN is unsecured.
A further announcement will be made in due course.
John Farthing, Interim CEO, commented:
"We are disappointed by this development, particularly as we understood that Klarian was in discussions to raise additional investment with existing investors."
Caution regarding forward looking statements
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.