Catenae Innovation PLC (AIM:CTEA) told investors it continues to carefully manage its working capital position, whilst updating on its disposal of Hyperneph Software Limited (HSL).
The company, in a stock market statement, said it has reached a settlement with certain minority shareholders of HSL in relation to a claim previously announced in May last year.
As a result, minority shareholders of HSL have agreed to pay a nominal amount, in cash, for the company's 51% shareholding in HSL (which had turnover of £77,136 and made a loss of £21,245).
It also acknowledged that it is a related-party transaction as Catenae directors Anthony Sanders and Alan Simpson are tied to HSL, with the former being on the board and the latter being a substantial shareholder.
Additionally, Catenae noted that it has renewed certain insurance policies through B.T.I.C. Limited.