Imaginatik PLC Contract Renewals worth £1.1m (9676V)

TIDMIMTK

RNS Number : 9676V

Imaginatik PLC

23 January 2012

Imaginatik plc

("Imaginatik" or the "Company")

Contract Renewals worth GBP1.1 million

Imaginatik plc (AIM: IMTK), a leading provider of enterprise innovation services including a range of technology products and consultancy, is pleased to announce that during December 2011 all anticipated renewals were contracted, a number of which have been renewed on multi-year contracts.

The total value of all contracts renewed in December 2011, including the contract announced on 22 December 2011 is approximately GBP1.1m. The Company expects that approximately GBP0.7m of this revenue will be recognised by the Company in its current financial year, ending 31 March 2012 and expects to have received over GBP0.9m of the GBP1.1m in cash by the same date.

The three most significant renewals are with a global consumer products company, a business communications company and the world's premier manufacturer of agricultural and forestry equipment. The relationships with these clients date back to 2007, 2008 and 2009 respectively.

Matt Cooper, Executive Chairman of Imaginatik, commented, "We are pleased to have extended these relationships with long term clients, each of them leaders in their own specific fields. As well as providing strong revenue visibility these renewals underline our importance to our clients' operations and the value that our services, products and consultancy provide."

For further information please contact:

 
 Imaginatik plc                    Tel: 020 7917 
                                    2975 
 Matt Cooper, Executive Chairman 
  / Shawn Taylor, CFO 
 
 Northland Capital Partners        Tel: 020 7796 
  Limited                           8800 
 Gavin Burnell / Edward Hutton 
 
 Newgate Threadneedle              Tel: 020 7653 
                                    9850 
 Caroline Evans-Jones / Hilary 
  Millar

About Imaginatik

Imaginatik provides a range of Innovation solutions comprised of consultancy, enterprise software and program management to deliver innovation results to companies such as The World Bank, NYSE, The Chubb Group of Insurance Companies, Boeing, Pfizer, Goodyear, Paccar, Kellogg and Cargill. Few companies possess the internal capability to consistently generate fresh ideas, identify those worth pursuing and reliably transform them into real, value-enhancing assets. This is Imaginatik's area of expertise.

Imaginatik is a public company whose shares are traded on the AIM market of the London Stock Exchange (LSE:IMTK.L) and is a World Economic Forum Technology Pioneer with offices in Boston, MA, and Winchester, UK. For more information visit www.imaginatik.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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