Imaginatik PLC Director Loan (1610Z)
September 16 2015 - 2:00AM
UK Regulatory
TIDMIMTK
RNS Number : 1610Z
Imaginatik PLC
16 September 2015
Imaginatik Plc
("Imaginatik" or "the Company")
Director Loan
Imaginatik plc (AIM: IMTK.L), the world's first full service
innovation provider offering a range of consultancy and technology
products, announces that Matt Cooper, Non-Executive Chairman, has
agreed to lend to the Company the sum of $110,000 (the "Loan") for
use in connection with the Company's short term working capital
requirements pending receipt of funds due from certain clients and
to cover minor delays in closing out several renewal contracts.
The Loan is unsecured, carries interest at a rate of 10 per
cent. per annum and is available to be drawn down in one tranche.
The Loan is repayable in full together with all accrued interest as
soon as the Company is in receipt of the funds from certain
clients.
As Matt Cooper is a director of the Company, the Loan, combined
with his previous loan to the Company announced in January 2015,
the issue of options announced in December 2015 and his
participation in the subscription announced in July 2015,
constitutes a related party transaction pursuant to AIM Rule 13.
The independent directors (being Ralph Welborn, Shawn Taylor and
Simon Charles) consider, having consulted with the Company's
nominated adviser, finnCap Limited, that the terms of the Loan are
fair and reasonable insofar as its 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
Jonny Franklin-Adams/Giles Rolls
Daniel Stewart & Company Tel: 020 7776
Martin Lampshire/David Coffman 6550
Newgate Threadneedle Tel: 020 7653
9850
Adam Lloyd / Ed Treadwell / Jasper Randall
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, ,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
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