ABAL Abal Group Plc

By Ian Walker

LONDON--Imaginatik PLC (IMTK.LN) said Wednesday that other than rumors of a takeover by former Quindell boss Rob Terry, it knows of no other reason for the rise in its share price.

A report on thisismoney.com said Mr. Terry was secretly rebuilding a stake in the software consulting company ahead of making of takeover offer for the business. The report said Mr. Terry has instructed his brokers to buy as many Imaginatik shares as possible for under 2 pence.

Citing well-placed sources, thisismoney.com said Mr. Terry is planning a bid for Imaginatik but for the moment is focused on building a sizeable stake because his investment vehicle Quob Park Estates has bought shares in the company at much higher levels over the last 12 months.

Mr. Terry and Quob Park Estate sold their entire holding of 12.86 million ordinary shares in Imaginatik on Dec. 14, 2015 at 7.5 pence a share to Quob Park Technologies Ltd. Quob Park Technologies is controlled by Quob Park Estate.

The company didn't make any further response to the speculation.

Shares are currently up 1.13 pence, or 56% at 3.13 pence after peaking at 3.9 pence in early trade Wednesday.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

April 06, 2016 09:19 ET (13:19 GMT)

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