TIDMIMTK
RNS Number : 0480F
Imaginatik PLC
11 June 2012
11 June 2012
Imaginatik Plc
("Imaginatik" or "the Company")
Directors' Dealings
The Company announced earlier today that it was proposing to
raise up to GBP1million before expenses through a conditional
placing of up to 333,333,333 new ordinary shares (the "Placing
Shares") with institutional and other investors at a price of 0.3p
per Placing Share (the "Placing") and that it had received
irrevocable commitments to subscribe for 285,833,333 Placing Shares
and expressions of interest from certain Directors of the Company
to subscribe for a further 47,500,000 Placing Shares in the Placing
on the same terms.
Following the release of its audited results for the year ended
31 March 2012, the Company is pleased to announce that Messrs
Cooper, Charles and Gammon, Directors of the Company, have
conditionally subscribed in the Placing for in aggregate 47,500,000
Placing Shares, as set out below, at a price of 0.3p per Placing
Share.
In aggregate, the Company has therefore conditionally raised
GBP1 million before expenses through a conditional placing of
333,333,333 new ordinary shares at a price of 0.3p per Placing
Share.
The 333,333,333 new ordinary shares to be issued pursuant to the
Placing will be credited as fully paid and will rank pari passu in
all respects with the existing ordinary shares, including the right
to receive all dividends and other distributions declared on or
after the date on which they are issued.
Application will be made for admission of the 333,333,333 new
ordinary shares to trading on AIM ("Admission") and, subject to the
requisite shareholder approval for the Placing being obtained at
the General Meeting to be held on 27 June 2012, it is expected that
Admission will be effective on or around 8.00 am on 28 June
2012.
Directors' participation in the Placing
The following directors of the Company are participating in the
Placing at the Placing Price:
Director Number Amount Number Percentage Options
of Placing subscribed of shares of enlarged held
Shares GBP held issued
conditionally including share
subscribed Placing capital
for Shares at Admission
--------------- --------------- ------------ ------------- -------------- -----------
Simon Charles 7,500,000 22,500 19,511,771 2.31 2,000,000
--------------- --------------- ------------ ------------- -------------- -----------
Matt Cooper 25,000,000 75,000 80,139,615 9.47 19,062,500
--------------- --------------- ------------ ------------- -------------- -----------
David Gammon 15,000,000* 45,000 27,442,564** 3.24 2,000,000
--------------- --------------- ------------ ------------- -------------- -----------
*includes a subscription for 8,333,333 Placing Shares for the
sum of GBP25,000 by Sarah Gammon, the wife of David Gammon.
** The interest of David Gammon includes those of his wife.
The issue of the 47,500,000 Placing Shares to Directors of the
Company is deemed a related party transaction under the AIM Rules
for Companies. Shawn Taylor, Luis Solis, Brian Hays and Nick Goss,
the independent directors, consider, having consulted with
Northland Capital Partners Limited as the Company's Nominated
Adviser, that the terms of the Directors' participation in the
Placing are fair and reasonable insofar as shareholders of the
Company are concerned.
Issue of options
Subject to Admission, Northland Capital Partners Limited has
been issued 5,895,833 options to subscribe for new ordinary shares
in the Company at a price of 0.5p per new ordinary share for a
period of five years from the date of the General Meeting.
Total voting rights
Following the Admission of the 333,333,333 new ordinary shares
to be issued pursuant to the the Placing, the Company's total
issued share capital will comprise of 846,365,443 ordinary shares.
The Company does not hold any ordinary shares in treasury.
Therefore the total number of shares with voting rights in the
Company will be 846,365,443. This figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company following Admission.
For further information please contact:
Imaginatik plc Tel: 020 7917 2975
Matt Cooper, Chairman /
Shawn Taylor, CFO
Northland Capital Partners Tel: 020 7796 8800
Limited
Gavin Burnell / Edward Hutton
John Howes / Alice Lane
(Broking)
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. Imaginatik's mission is to help these
companies build sustainable innovation competencies.
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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