TIDMIMTK
RNS Number : 4324X
Imaginatik PLC
15 February 2012
15 February 2012
Imaginatik plc
("Imaginatik" or the "Company")
Share Option Schemes
Imaginatik plc (AIM: IMTK), a leading provider of enterprise
innovation services including a range of technology products and
consultancy, announces that the remuneration committee of the Board
has approved changes to the terms of the existing share options
issued by the Company.
There are currently 27,461,845 options outstanding under the
Company's various share option schemes, of which 24,012,500 are
held by directors and eligible employees. 12,006,250 of these
options have now been cancelled and the exercise price of a further
12,006,250 options, which currently ranges from 2.0p to 2.55p, has
been rebased to 1p per share. The mid-market price of the Company's
ordinary shares as at close of business on 14 February 2012 was
0.42p.
In addition, the Company has awarded 64,425,000 new share
options to directors and employees with an exercise price of 1p per
share ("New Options"):
a. Matt Cooper, Shawn Taylor, Luis Solis and Nicholas Goss, each
being an executive director of the Company, have been granted
17,500,000, 11,125,000, 7,500,000 and 5,000,000 options
respectively. The grant of a higher number of options to Mr Cooper
and Mr Taylor is in recognition of salary sacrifices on their part
during the half-year to 30 September 2011. The share options for Mr
Cooper and Mr Taylor will be a combination of options issued under
The Imaginatik plc Enterprise Management Incentive Scheme ("EMI
scheme") as well as unapproved options. The share options for Mr
Goss will all be issued under the EMI scheme. The share options for
Mr Solis shall be issued under the Imaginatik 2006 Stock Option
Plan.
b. David Gammon, Simon Charles and Brian Hays, non-executive
directors of the Company, have each been granted 2,000,000 share
options. The share options for Mr Gammon and Mr Charles shall be
issued as unapproved options, and those for Mr Hays shall be issued
under the Imaginatik 2006 Stock Option Plan.
c. Key employees of the Company have been granted 17,300,000
share options under the EMI scheme as well as the Imaginatik 2006
Stock Option Plan.
The re-based options and the New Options will vest as to 50% two
years after grant and 50% three years after grant, subject to
certain events as particularised in the scheme rules.
The remuneration committee considers that the grant of the New
Options and the combined re-basing and cancellation of existing
options provides the senior management team and employees of the
Company with an appropriate and effective incentive for the
future.
In addition to the above grants, Northland Capital Partners
Limited has been granted 3,206,451 options over new ordinary shares
exercisable at any time at 0.5p per share expiring on 13 February
2017 (in connection with the recent placing and open offer).
Imaginatik now has 78,087,046 share options in issue,
representing approximately 15.22% of the current issued share
capital and 13.21% of the fully diluted share capital.
Executive Directors Options
------------------------- -----------
Matt Cooper 19,062,500
------------------------- -----------
Shawn Taylor 14,225,000
------------------------- -----------
Luis Solis 9,500,000
------------------------- -----------
Nicholas Goss 5,000,000
------------------------- -----------
Non-Executive Directors
------------------------- -----------
David Gammon 2,000,000
------------------------- -----------
Simon Charles 2,000,000
------------------------- -----------
Brian Hays 2,000,000
------------------------- -----------
Employees 17,643,750
------------------------- -----------
Ex-employees 3,449,345
------------------------- -----------
Northland Capital
Partners 3,206,451
------------------------- -----------
Matt Cooper, Shawn Taylor and Luis Solis, Executive Directors of
the Company and Mr Andrew Wainwright, a former Executive Director
of the Company, are participating in the re-basing of the existing
share options to the extent of an aggregate of 8,537,500 options.
The re-basing of the share options is deemed to be a related party
transaction under the AIM Rules for Companies. Nicholas Goss, Brian
Hays and David Gammon, the independent directors of the Company for
the purposes of the transaction, having consulted with the
Company's Nominated Adviser, Northland Capital Partners Limited,
consider that the terms of the re-basing of the existing share
options are fair and reasonable so far as the shareholders of the
Company are concerned.
Matt Cooper, Executive Chairman of Imaginatik, commented,
"Following a comprehensive review of the Company's share option
schemes, we are pleased to have put in place a revised share option
structure that we believe properly incentivises our employees to
build the Company in the long term."
For further information please contact:
Imaginatik plc Tel: 020 7917 2975
Matt Cooper, Executive Chairman /
Shawn Taylor, CFO
Northland Capital Partners Limited Tel: 020 7796 8800
Gavin Burnell / Edward Hutton
Newgate Threadneedle Tel: 020 7653 9850
Caroline Evans-Jones / Hilary Millar
About Imaginatik
Imaginatik provides Innovation and Idea management solutions
comprised of consultancy, software and program management to
deliver innovation outcomes to companies such as 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 a World
Economic Forum Technology Pioneer with offices in Boston, MA, and
London. In 2009, Imaginatik was named as one of the 500 fastest
growing technology companies in the EMEA region by Deloitte. For
more information, visit www.imaginatik.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSLLFVTFRISLIF
Abal (LSE:ABAL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Abal (LSE:ABAL)
Historical Stock Chart
From Jul 2023 to Jul 2024