Catenai PLC (AIM:CTAI) renewed its IT services agreement with Charlton Athletic Community Trust for a further 12 months, maintaining the group's recurring contract revenue from the community trust.
The company also provided an update on Klarian Ltd, to which it originally advanced a £450,000 unsecured convertible loan note facility on 25 April 2024. Further extension agreements have been executed, most recently covering repayment terms.
"Under the terms of the Extension Agreement, Klarian will repay Catenai (LSE:CTAI) £699,160 due under the CLN and related fees by 15 May 2026 together with an additional fee of 3% per month (or part thereof) which will accrue on the outstanding balance until repayment." the Company added.
Catenai cautioned that "There can be no certainty that Klarian will complete the Repayment in full by the Repayment Date." Klarian has told Catenai it is in talks with investors, that its commercial sales pipeline now exceeds £5 million, and that it is finalising a Statement of Work with a global provider of technology solutions in the energy and natural resources sector. Klarian says its Virtual Sensor product, Vesta, has attracted strong interest from two international upstream energy companies after demonstrations.
