Imaginatik PLC AGM Statement (2322M)
September 14 2012 - 2:00AM
UK Regulatory
TIDMIMTK
RNS Number : 2322M
Imaginatik PLC
14 September 2012
14 September 2012
Imaginatik Plc
("Imaginatik" or the "Company")
AGM Statement
At the Company's Annual General Meeting to be held later today,
Matthew Cooper, Executive Chairman of Imaginatik plc (AIM: IMTK.L),
the world's first full service innovation provider offering a range
of technology products and consultancy, will make the following
statement:
"We have continued to make good progress in the first half of
the financial year. So far in this financial year we have
contracted with 12 new customers across Europe and the US which is
double that achieved in the same period of last year. We also
expect to finalise a number of additional annual contracts in the
short term.
"Importantly, we are experiencing growth in the number of
contracts for strategic consultancy, including contracts with Mead
Johnson, Proctor & Gamble and The Society of Petroleum
Engineers. Most new annual contracts being signed now include some
element of operational consulting, endorsing our strategy to offer
'full service' innovation capabilities to clients, rather than
standalone software.
"We have been encouraged by progress in the European market,
where we have recently increased our sales capacity, securing two
small annual deals in the UK and Spain and a pilot with a UK
headquartered global betting and gaming company. While relatively
modest in size initially, each has the potential for significant
expansion and we believe we are well placed to benefit further from
the growing European innovation market.
"We have continued to invest in the development of our
technology platform and have begun incorporating multi-lingual
capabilities and connectors into some of the fastest growing
corporate platforms, such as SharePoint, Jive and Yammer. We
believe both of these initiatives will significantly increase our
addressable market.
"The general economy stills poses a challenge, evidenced by the
loss of three customers in the period due to budgetary constraints.
However, each of these contracts was based on our 'old model' with
no consultancy support and we are confident that as an increasing
number of our customers rely on Imaginatik to provide them with
full innovation capabilities, we will increase the stickiness of
our customer base.
"Given that we have a number of new contracts pending we look
forward to providing an update on our financial performance to the
market following the period end."
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 a range of Innovation solutions comprised of
consultancy, enterprise software and program management to deliver
innovation results to companies such as The World Bank, 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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