TIDMIMTK

RNS Number : 4445T

Imaginatik PLC

20 July 2015

20 July 2015

Imaginatik Plc

("Imaginatik" or "the Company")

Subscription to raise GBP120,000 and Director Dealings

Imaginatik plc (AIM: IMTK.L), the world's first full service innovation provider offering a range of consultancy and technology products, is pleased to announce a Subscription of 1,999,998 ordinary shares of 1 pence each in the capital of the Company (the "Subscription Shares") at a price of 6 pence per share (the "Subscription Price") to raise gross proceeds of c. GBP120,000 with new and existing institutional and other investors (the "Subscription"). The Subscription was conducted in conjunction with Daniel Stewart & Company.

The Subscription is being undertaken to satisfy market demand for shares in the Company and the proceeds will be used to provide additional working capital to fund the development of the business.

Admission

The Subscription is subject, inter alia, to admission of the Subscription Shares to trading on AIM ("Admission"), which is expected to occur at or around 8.00 a.m. on 23 July 2015. Application has been made to the London Stock Exchange for all of the Subscription Shares to be admitted to trading on AIM. The Subscription Shares will, when issued, rank pari passu in all respects with the Company's existing ordinary shares.

Total Voting Rights

Following Admission, the Company will have 84,698,093 Ordinary Shares in issue. The Company has no shares in treasury, therefore the figure of 84,698,093 should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Related Party Transaction and Director Dealing

Matt Cooper, Non-Executive Chairman of the Company, is participating in the Subscription at the Subscription Price, subscribing for 250,000 Subscription Shares. Following Admission, Mr. Cooper will have an interest in 22,929,576 Ordinary Shares, representing 27.07% of the Company's enlarged issued share capital. Simon Charles, Non-Executive Director of the Company, is participating in the Subscription at the Subscription Price, subscribing for 100,000 Subscription Shares. Following Admission, Mr. Charles will have an interest in 2,503,182 Ordinary Shares, representing 2.96% of the Company's enlarged issued share capital.

Under the AIM Rules for Companies, both Mr. Cooper's and Mr. Charles' participations in the Subscription constitute related party transactions. The independent directors, being all of the Company's directors except Mr. Cooper and Mr. Charles, consider, having consulted with finnCap Ltd, the Company's Nominated Adviser, that their participation in the Subscription is fair and reasonable in so far as shareholders are concerned.

For further information please contact:

 
 Imaginatik plc                       Tel: 01329 243 
                                       243 
 Matt Cooper Non-Executive Chairman 
  Ralph Welborn, CEO 
  Shawn Taylor, CFO 
 
 finnCap Ltd                          Tel: 020 7220 
                                       0500 
 Stuart Andrews / Malar Velaigam 
 
 Daniel Stewart & Company             Tel: 020 7776 
                                       6550 
 Martin Lampshire / David Coffman 
 
 Newgate                              Tel: 020 7653 
                                       9850 
 Adam Lloyd / Ed Treadwell 
 

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, State Farm, Exxon Mobil, Pfizer, Goodyear, the Yorkshire Building Society, Pitney Bowes 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 Fareham, UK. For more information visit www.imaginatik.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCGGUBAMUPAPPM

Abal (LSE:ABAL)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Abal Charts.
Abal (LSE:ABAL)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Abal Charts.