TIDMIMTK
RNS Number : 6951H
Imaginatik PLC
09 June 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA, THE REPUBLIC OF IRELAND, NEW ZEALAND OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE
OR DISPOSE OF ANY SECURITIES IN IMAGINATIK PLC OR ANY OTHER ENTITY
IN ANY JURISDICTION.
Imaginatik plc
("Imaginatik", the "Company" or together with its subsidiaries
the "Group")
Placing and Open Offer to raise up to GBP1.9 million
Posting of Circular and Notice of General Meeting
PDMR Dealing
Imaginatik plc (AIM: IMTK.L), the innovation company, is pleased
to announce that, following the announcement made earlier today,
the Company has raised a total of GBP1.4 million (before expenses)
by means of a conditional Placing with new and existing investors,
of 68,731,445 new ordinary shares of 1 penny each ("Placing
Shares") at a price of 2 pence per share (the "Placing Price").
Key highlights
-- Proposed Placing to raise GBP1.4 million through the issue of
68,731,445 Placing Shares to existing and new investors, at 2 pence
per Placing Share
-- The Placing Price represents a discount of 5.9 per cent. to
the Closing Price on 8 June 2017, being the last trading date prior
to announcement of the proposed Placing
-- The net proceeds of the Placing will be used to invest in
sales and marketing, development of partnership channels and to
support further investment in technology
Open Offer
The Company also confirms that Qualifying Shareholders will be
given the opportunity to subscribe for New Ordinary Shares through
an open offer to raise up to approximately GBP0.5 million, on the
basis of 1 open offer share for every 6 shares held, at the Placing
Price ("Open Offer").
General Meeting
The proposed Placing and Open Offer (together the "Fundraising")
is subject to the passing of certain resolutions at the general
meeting of the Company (the "General Meeting"). A circular
containing a notice of the meeting is expected to be posted to
Shareholders shortly. The circular, extracts of which are set out
below, will set out the reasons for, and provide further
information on, the Fundraising, to explain why the Board considers
the Fundraising to be in the best interests of the Company and its
Shareholders as a whole and why the Directors unanimously recommend
that Shareholders vote in favour of the Resolutions. The General
Meeting, is being convened for 5 p.m. on 26 June 2017 at the
offices of the Company's solicitors, Marriott Harrison LLP, at 11
Staple Inn, London WC1V 7QH .
Assuming all resolutions are approved, trading in the 68,731,445
Placing Shares is expected to commence on 28 June 2017.
The expected timetable for the Fundraising is set out below.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Record Date for the Open 6.00 p.m. on 8 June
Offer 2017
Announcement of the Fundraising 9 June 2017
Application Forms and Circular 9 June 2017
posted to Qualifying Shareholders
Ex entitlement date for 8.00 a.m. on 12 June
the Open Offer 2017
Entitlements credited to 13 June 2017
accounts of Qualifying CREST
Shareholders
Latest time and date for 5.00 p.m. on 22 June
receipt of Forms of Proxy 2017
for use at the General Meeting
Recommended latest time 4.30 p.m. on 23 June
for requesting withdrawal 2017
of Open Offer Entitlements
and from CREST
General Meeting 5.00 p.m. on 26 June
2017
Latest time for depositing 3.00 p.m. on 27 June
Open Offer Entitlements 2017
in CREST
Placing Admission effective 8.00 a.m. 28 June 2017
and trading expected to
commence in the Placing
Shares
CREST members' accounts as soon as possible
credited in respect of Placing after
Shares in uncertificated 8.00 a.m. on 28 June
form 2017
Latest time and date for 3.00 p.m. on 28 June
splitting of Application 2017
Forms (to satisfy bona fide
market claims only)
Latest time and date for 11.00 a.m. on 30 June
receipt of completed Application 2017
Forms, and payment in full
under the Open Offer and
settlement of relevant CREST
instructions (as appropriate)
Share certificates in respect 3 July 2017
of Placing Shares expected
to be dispatched by no later
than
Result of Open Offer announced by 3 July 2017
Open Offer Admission effective 8.00 a.m. 4 July 2017
and trading expected to
commence in the Accepted
Offer Shares
CREST members' accounts as soon as possible
credited in respect of Accepted after
Offer Shares in uncertificated 8.00 a.m. on 4 July
form 2017
Share certificates in respect
of Accepted Offer Shares 13 July 2017
expected to be dispatched
by no later than
The times and dates set out in the expected timetable of
principal events above and mentioned throughout this document and
in the Application Form may be adjusted by the Company, in which
event the details will be notified to the London Stock Exchange
and, where appropriate, to Shareholders
PLACING AND OPEN OFFER STATISTICS
Offer Price and Placing Price 2p
Number of Existing Ordinary Shares
in issue at the date of this
document 151,828,597
Number of Offer Shares available
under the Open Offer 25,304,766
Number of Placing Shares 68,731,445
Number of New Ordinary Shares* 94,036,211
Estimated gross proceeds of the GBP1,374,629
Placing *
Estimated gross proceeds of the GBP506,095
Open Offer*
Enlarged Share Capital on Admission* 245,864,808
Percentage of the Enlarged Issued
Share Capital represented by
the New Ordinary Shares* 38%
Market capitalisation of the GBP4.9 million
Company on Offer Admission at
the Offer Price*
* assuming that the Placing completes and there
is maximum take up under the Open Offer.
Other details of the Placing and Open Offer
The record date for entitlement under the Open Offer is the
close of business on 8 June 2017 and the ex-entitlement date of the
Open Offer is 12 June 2017. The latest time and date for receipt of
completed application forms and payment in full under the Open
Offer and settlement of relevant CREST instructions (as
appropriate) is 11 a.m. on 30 June 2017.
The Open Offer Shares have not been placed subject to clawback
nor have they been underwritten. Consequently, there may be less
than GBP0.5m raised under the Open Offer.
Directors' Participation and Related Party Transaction
Certain Directors' have subscribed for Placing Shares at the
Placing Price as per the table below (the "Directors'
Participation"):
Director As at the date of Immediately following
this document Placing Admission
--------------- ------------------------------ --------------------------------
Number Percentage Number of Percentage
of Ordinary of Existing Ordinary of Share
Shares Issued Shares Capital Following
Share Capital Placing Admission
--------------- ------------- --------------- ----------- -------------------
Matthew
Cooper 42,929,476 28.27% 52,929,476 24.00%
--------------- ------------- --------------- ----------- -------------------
Shawn Taylor 551,852 0.36% 851,852 0.39%
--------------- ------------- --------------- ----------- -------------------
Ralph Welborn 340,000 0.22% 922,163 0.42%
--------------- ------------- --------------- ----------- -------------------
Simon Charles 2,703,182 1.78% 2,703,182 1.23%
--------------- ------------- --------------- ----------- -------------------
The subscription by the Directors constitutes a related party
transaction for the purposes of AIM Rule 13.
Simon Charles is considered to be an independent director for
purposes of AIM Rule 13 ("Independent Director"). As such, the
Independent Director, having consulted with the Company's nominated
adviser, considers the Directors' Participation to be fair and
reasonable insofar as the Company's shareholders are concerned.
Simon Charles has indicated that he will take up 100% of his
entitlement under the Open Offer.
EIS / VCT
The Directors believe that the Placing Shares and Open Offer
Shares should be eligible (subject to the circumstances of
investors) for tax reliefs under the Enterprise Investment Scheme
("EIS") and for investment by Venture Capital Trusts ("VCT"). The
Company has obtained advance assurance from Her Majesty's Revenue
and Customs that shares in the Company represent a qualifying
investment for a VCT and qualify for EIS tax reliefs. The Directors
are not aware of any change in the qualifying conditions or the
Company's circumstances that would prevent the Placing Shares and
Open Offer Shares from being eligible VCT and EIS investments on
this occasion.
Matt Cooper, Chairman, said:
"We have been delighted by the continued support shown by our
investors. The proceeds will allow us to further grow the Company
by investing in both our technology platform and our people."
Unless otherwise defined, all capitalised terms in this
announcement are defined at the end of this announcement.
Additional information relating to the Placing is contained
below in this announcement.
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,
corporate finance
Camille Gochez, corporate broking
Alma PR Tel: 020 8004
4218
Hilary Buchanan
Robyn Fisher
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 Exxon Mobil, Altria, Shell,
Goodyear, the Yorkshire Building Society, Caterpillar, AECOM,
Novartis 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. In 2016 Forrester Research found that
"Imaginatik has the most comprehensive innovation management
solution," providing excellent industry recognition of Imaginatik's
full-service innovation offering, combining both technology and
consultancy services.
Imaginatik is a public company whose shares are traded on the
AIM market of the London Stock Exchange (LSE: IMTK.L) with offices
in Boston, MA, and Fareham, UK. For more information visit
www.imaginatik.com.
Details of the Open Offer
The Company hereby invites Qualifying Shareholders to apply, on
and subject to the terms and conditions set out herein and in the
Application Form, and subject to the Articles of Association of the
Company, for Offer Shares at the Offer Price, free from all
expenses, payable in full on application. The mid-market price for
an Existing Ordinary Share, as derived from the AIM Appendix to the
Daily Official List of the London Stock Exchange for 8 June 2017
(being the last practicable date before the announcement of the
Proposals) was 2.125 pence. Subject to fulfilment of the conditions
set out below and in the Application Form, Qualifying Shareholders
are being given the opportunity to subscribe for Offer Shares at
the Offer Price payable in full on application and free of all
expenses, pro rata to their existing shareholdings, on the basis
of:
1 Offer Share for every 6 Existing Ordinary Shares
held at the Record Date and so on in proportion for any greater
number of Existing Ordinary Shares then held.
Entitlements of Qualifying Shareholders will be rounded down to
the nearest whole number of Offer Shares. Qualifying Shareholders
may apply for less than their full Open Offer Entitlement if they
wish to do so, but may not apply for more than their full Open
Offer Entitlement. Fractional entitlements which would have
otherwise arisen will not be issued. Any monies paid in excess of
the amount due in respect of an application (providing the excess
amount exceeds GBP3.00) will be returned to the applicant (at the
applicant's risk and without interest) within 14 days by way of
cheque. The procedure for application in relation to the Open Offer
will be detailed in the Circular posted to Shareholders today.
Holdings of Existing Ordinary Shares in certificated and
uncertificated form will be treated as separate holdings for the
purposes of calculating Open Offer Entitlements, as will holdings
under different designations and different accounts.
The Accepted Offer Shares will, when issued and fully paid, rank
pari passu in all respects with and will carry the same voting and
dividend rights as, the Existing Ordinary Shares. The Open Offer is
conditional, inter alia, on the Placing Agreement becoming or being
declared unconditional in all respects and not being terminated
before Offer Admission. It is expected that the Placing Admission
will become effective and that dealings will commence on 28 June
2017 and the Offer Admission will become effective and that
dealings will commence on 4 July 2017. One of the conditions to the
Placing Agreement is the Placing Admission occurring no later than
8.00 a.m. on 28 June 2017 or such later time and/or date as the
Company and finnCap may agree, being not later than 8.00 a.m. on 18
July 2017. If such conditions are not fulfilled, application monies
are expected to be returned without interest by crossed cheque in
favour of the applicant(s) (at the applicant's risk) by post as
soon as practicable after that date. Any interest earned on the
application monies will be retained for the benefit of the
Company.
The Open Offer is not a rights issue. Qualifying Shareholders
should note that the Application Form is not a negotiable document
and cannot be traded. Qualifying Shareholders should also be aware
that in the Open Offer, unlike in a rights issue, any Offer Shares
not applied for will not be sold in the market or placed for the
benefit of Qualifying Shareholders who do not apply under the Open
Offer.
Completed Application Forms, accompanied by full payment, should
be returned by post or by hand (during normal business hours only)
to Neville Registrars Limited, Neville House, 18 Laurel Lane,
Halesowen, West Midlands B63 3DA so as to arrive as soon as
possible and in any event so as to be received no later than 11.00
a.m. on 30 June 2017.
Cheques should be made payable to "Neville Registrars Limited re
Clients Account" and crossed "A/C Payee Only". Third party cheques
will not be accepted with the exception of building society cheques
or bankers' drafts where the building society or bank has endorsed
the back of the draft by adding the Shareholder's details and the
branch stamp.
The Offer Shares will represent 10.3 per cent. of the Enlarged
Issued Share Capital, assuming full subscription under the Open
Offer and the Placing. The Placing and the Offer are not
inter-conditional.
Further terms of the Open Offer will be detailed in the Circular
sent to Shareholders today.
Use of Proceeds
The aggregated gross proceeds of the Fundraising are expected to
be approximately GBP1.9million (assuming maximum take up under the
Open Offer). A proportion of the net proceeds will be invested in
sales and marketing for the Company's partnership channels. The
Company has been developing its partnership channels providing the
technology platform and consultancy services to both the partner
and to the partner's customer base as part of a jointly developed
innovation offering. For this the Company receives subscription
revenues and consulting fees and will also be entitled to receive
success-based fees based on the total contract value of the joint
offering. The Company will also use the proceeds to invest in both
new and existing technology. The focus on existing technology will
be to: improve reporting; mobile enablement; and user experience.
Spend on new product development will be primarily focussed on
further enhancing the analytical tools. The balance of the net
proceeds will provide additional working capital to help reduce the
seasonality in the sales pipeline and protect strategic options as
the market evolves. The Directors believe that the Open Offer is
the most equitable and efficient method to allow as many
Shareholders to participate in the Company's future as
possible.
Current Status
The Company is one of the leading global providers of innovation
technology, consulting and advisory services. The Directors believe
that it is clear that those companies that have innovation as part
of their corporate DNA give themselves the opportunity to thrive in
the business world whilst those companies that are less innovative
find it increasingly difficult to compete and to thrive. That
message is now being heard and understood.
The management of the Company believe that there is a
significant opportunity that is ready to be seized, with the
innovation market expanding, a growing spend on innovation and new
buyers entering the market. Management believe these buyers are now
more senior than previously seen, with access to larger budgets.
These are senior people who recognise that having an embedded
innovation competence within their organisations is critical to
corporate success; however the great majority are still unclear on
what they need to do in order to and instil an innovation
capability. This is our opportunity.
Over the last few years the Company has continued to refine its
suite of offerings in order to better address the market it serves.
The Company has three main offerings;
a) Innovation strategy advisory
This involves advisory consulting to help senior executives
build and develop their corporate innovation programs, such
programs of work typically last one to three months.
b) Innovation capability building
This type of consulting is more operational in nature involving
the Company providing workshops, training, facilitation and
innovation management services in support of a client's ongoing
program. These activities are frequently project based with
delivery taking place over a few months, but may also be embedded
within annual contracts sitting alongside a technology
purchase.
c) Innovation software platform
The Company provides an enterprise innovation software platform
that enables large global organisations to scale innovation
practices across the enterprise in a repeatable way. This is
usually deployed as annual or multi-year software as a service
("SaaS") contracts.
The Company is the market leader in the space, offering the most
complete innovation solution. In 2016 it was described by a leading
independent technology and market research company as having the
"most comprehensive innovation management solution". The report
also ranked Imaginatik above all other market competitors in terms
of its current suite of offerings as well as its strategy.
Client Base
In the last year the Company has added a further 15 clients to
the list, with 11 in the US and 4 in Europe. The new additions in
the US include two global healthcare companies, one of the world's
largest human resource consulting firms, and several US based
global financial services companies. Those in Europe include a
multi-national pharmaceutical company as well as a new oil and gas
research organisation.
Recent Company Developments
In the last year the Company has invested in a number of new
personnel, mostly in the US, spanning both technology development
and software sales. The Company appointed David Boghossian as
General Manager, Software in November 2016. David is based in
Boston and has a remit to be the interface between our technology
and sales activities, as well as assisting all of the sales team
with their sales pursuits. David is a Harvard graduate with over 25
years' experience in running technology businesses. The Company
also appointed Kai Chuang as its Boston based Chief Technology
Officer. Kai has more than 20 years' experience in creating digital
technology solutions and has previously worked at Accenture and
Google.
The Company has progressed its technology roadmap with a future
focus to be on further enhancing the analytic tools for use within
the innovation central technology platform as well as a series a
series of playbooks to enable clients to make better use of the
technology.
The Company has spent a great deal of time in the second half of
the financial year developing a series of partnerships with
re-sellers of the Company's technology and associated consulting
services.
Financial Review
The following is based on the unaudited accounts of the Company
for the year ended 31 March 2017 and the trading update issued to
the market on 25 April 2017.
The Company had an improved year of trading with results broadly
in line with market expectations, with annual losses falling to
cGBP0.55m on recognised revenues of approximately GBP3.9m
(2016:GBP3.9m). The Company reports that it had 15 new client wins
in the period, with 11 occurring in the second half of the
financial year as sales momentum started to build. Customer churn
was higher in the current year than had been seen in the past, with
76% of available renewals by value being converted. More recently
this renewal rate was far higher at approximately 90%. The higher
churn in the year to 31 March 2017 was the result of the loss of
two clients in the main, the first loss was the result of the
client being acquired, an event that resulted in the loss of the
entire innovation team. The second client underwent cost reductions
resulting in the loss of their innovation programme.
The Board is encouraged by the development of the sales
pipeline, which has grown significantly in the second half of the
financial year as opportunities arising from the growing market for
our technology and services as well as the newly developed
partnership channels is starting to become more evident.
Outlook
The Company will look to add further US based sales and
consulting resources to take full advantage of the sales
opportunities afforded by the developing partnerships and growing
innovation market as a whole. The Company also intends to maintain
its focus on adding to its existing technology products and
consulting deliverables in order to grow its client base and
maintain its leading position in the market.
DEFINITIONS
The following definitions apply throughout this document unless
the context otherwise requires:
"Accepted Offer Shares" the Offer Shares in respect of which
valid applications are received;
"Act" the Companies Act 2006, as amended;
"Admission" Offer Admission and Placing Admission;
"AIM" the market of that name operated by the London Stock
Exchange;
"AIM Rules" the AIM Rules for Companies published by the London
Stock Exchange (as updated from time to time) governing the
admission to and the operation of AIM;
"Application Form" the application form to be used by Qualifying
Shareholders in connection with the Open Offer;
"Australia" the Commonwealth of Australia, its states,
territories and Possessions;
"Broker Placing Shares" the 50,450,325 New Ordinary Shares which
are to be subscribed for under the Placing;
"Canada" Canada, its provinces, territories and all areas
subject to its jurisdiction and any political sub-division
thereof;
"certificated form"
"in certificated form" an ordinary share recorded on a company's
share register as being held in certificated form (namely, not in
CREST);
"Company" or "Imaginatik" Imaginatik plc;
"Company Placing Shares" the 18,281,120 New Ordinary Shares
which are subscribed for by certain investors directly with the
Company;
"CREST" the relevant system (as defined in the Uncertificated
Securities Regulations 2001) in respect of which Euroclear UK &
Ireland Limited is the operator (as defined in those
regulations);
"Directors" or "Board" the directors of the Company or any duly
authorised committee thereof;
"Enlarged Issued Share Capital" the issued ordinary share
capital of the Company immediately following Offer Admission;
"Excluded Jurisdiction" the United States, Australia, Canada,
Japan, the Republic of South Africa, New Zealand and any other
jurisdiction where the extension or availability of the Open Offer
would breach any applicable law;
"Existing Ordinary Shares" the 151,828,597 Ordinary Shares in
issue at the date of this document, all of which are admitted to
trading on AIM;
"Euroclear" Euroclear UK & Ireland Limited, the operator of
CREST (formerly known as CRESTCo Limited);
"finnCap" means finnCap Ltd, the Company's nominated adviser and
broker;
"FPO" the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (S.I. 2005/1529);
"Form of Proxy" the form of proxy accompanying this document for
use at the General Meeting;
"FCA" the Financial Conduct Authority of the UK in its capacity
as the competent authority for the purposes of FSMA;
"FSMA" the Financial Services and Markets Act 2000;
"General Meeting" the general meeting of the Company to be held
at the offices of the Company's solicitors, Marriott Harrison LLP,
at 11 Staple Inn, London WC1V 7QH on 26 June 2017 at 5.00 p.m. and
notice of which is set out at the end of this document;
"Group" the Company and its existing subsidiaries, Imaginatik
Inc. and Imaginatik (Goswell) Limited;
"Issue" the Placing and the Open Offer;
"Japan" Japan, its cities and prefectures, territories and
possessions;
"London Stock Exchange" London Stock Exchange plc;
"Money Laundering Regulations" the Money Laundering Regulations
1993, as amended, and the Money Laundering Regulations 2007;
"Neville Registrars" the Company's registrars, Neville
Registrars Limited of Neville House, 18 Laurel Lane, Halesowen,
West Midlands, B63 3DA;
"New Ordinary Shares" the Placing Shares and the Accepted Offer
Shares;
"Notice of General Meeting" the notice of the General Meeting
set out at the end of this document;
"Offer Admission" admission of the Offer Shares to trading on
AIM becoming effective in accordance with the AIM Rules;
"Offer Price" 2 pence per Offer Share;
"Offer Shares" the 25,304,766 Ordinary Shares which are to be
made available for subscription by Qualifying Shareholders under
the Open Offer;
"Official List" the Official List of the UKLA;
"Open Offer" the conditional offer to Qualifying Shareholders to
subscribe for the Offer Shares at the Offer Price, as described in
this document;
"Open Offer Entitlements" entitlements to subscribe for Offer
Shares, allocated to a Qualifying Shareholder pursuant to the Open
Offer;
"Ordinary Shares" ordinary shares of 1 pence each in the capital
of the Company;
"Overseas Shareholders" Shareholders resident in, or citizens
of, jurisdictions outside the United Kingdom;
"Placing" the conditional placing by finnCap of the Broker
Placing Shares with investors pursuant to the Placing Agreement
and, where the content permits, the conditional placing by the
Company or the Company Placing Shares which are being subscribed
for by certain Directors and members of the management team;
"Placing Admission" admission of the Placing Shares to trading
on AIM becoming effective in accordance with the AIM Rules;
"Placing Agreement" the agreement dated 9 June 2017 between the
Company and finnCap
"Placing Price" 2 pence per Placing Share;
"Placing Shares" the 68,731,445 Ordinary Shares being the
aggregate of the Broker Placing Shares and the Company Placing
Shares;
"Proposals" the proposals set out in this document including the
Placing and Open Offer;
"Prospectus Rules" the Prospectus Rules made in accordance with
EU Prospectus Directive 2003/7l/EC in relation to offers of
securities to the public and admission of securities to trading on
a regulated market;
"Qualifying Shareholders" holders of Existing Ordinary Shares at
the Record Date;
"Qualifying Certificated
Shareholders" holders of Existing Ordinary Shares held in
certificated form at the Record Date;
"Qualifying CREST Shareholders" holders of Existing Ordinary
Shares held in CREST at the Record Date;
"Record Date" the record date for the Open Offer being 6.00 p.m.
on 8 June 2017;
"Relevant Persons" persons (i) who are investment professionals
within Article 19(1) of the FPO; or (ii) who are persons falling
within Article 49(1) of the FPO; or (iii) with whom it may
otherwise be lawful for the Company to communicate in respect of
the Placing and are persons who fall within section 86(7) of
FSMA;
"Resolutions" the resolutions set out in the Notice of General
Meeting;
"Securities Act" the United States Securities Act of 1933, as
amended;
"Shareholders" holders of Ordinary Shares;
"UKLA" the United Kingdom Listing Authority, being the FCA
acting in its capacity as the competent authority for the purposes
of Part VI of FSMA;
"United Kingdom" or "UK" the United Kingdom of Great Britain and
Northern Ireland;
"United States" or "US" the United States of America, each State
thereof, its territories and possessions (including the District of
Columbia) and all other areas subject to its jurisdiction; and
"uncertificated" an ordinary share recorded on a company's share
register as being held in uncertificated form in CREST and title to
which, by virtue of the Uncertificated Securities Regulations 2001,
may be transferred by means of CREST.
1. Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------
a) Name Matt Cooper
--- ------------------------------- -------------------------
2. Reason for the Notification
--- ----------------------------------------------------------
a) Position/status Director / PDMR
--- ------------------------------- -------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- -------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- ----------------------------------------------------------
a) Name Imaginatik plc
--- ------------------------------- -------------------------
b) LEI n/a
--- ------------------------------- -------------------------
4. Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii)
each date; and (iv) each place where
transactions have been conducted
--- ----------------------------------------------------------
a) Description Ordinary shares
of the Financial of 1p
instrument,
type of instrument
---
Identification GB00BP8XY588
code
--- ------------------------------- -------------------------
b) Nature of the Subscription of Shares
transaction
--- ------------------------------- -------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ---------- -----------
GBP0.02 10,000,000
---------- -----------
--- ------------------------------- -------------------------
d) Aggregated information:
* Aggregated volume See above
* Price
--- ------------------------------- -------------------------
e) Date of the 9 June 2017
transaction
--- ------------------------------- -------------------------
f) Place of the London Stock Exchange,
transaction AIM Market (XLON)
--- ------------------------------- -------------------------
5. Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------
a) Name Shawn Taylor
--- ------------------------------- -------------------------
6. Reason for the Notification
--- ----------------------------------------------------------
a) Position/status Director / PDMR
--- ------------------------------- -------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- -------------------------
7. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- ----------------------------------------------------------
a) Name Imaginatik plc
--- ------------------------------- -------------------------
b) LEI n/a
--- ------------------------------- -------------------------
8. Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii)
each date; and (iv) each place where
transactions have been conducted
--- ----------------------------------------------------------
a) Description Ordinary shares
of the Financial of 1p
instrument,
type of instrument
---
Identification GB00BP8XY588
code
--- ------------------------------- -------------------------
b) Nature of the Subscription of Shares
transaction
--- ------------------------------- -------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ---------- ----------
GBP0.02 300,000
---------- ----------
--- ------------------------------- -------------------------
d) Aggregated information:
* Aggregated volume See above
* Price
--- ------------------------------- -------------------------
e) Date of the 9 June 2017
transaction
--- ------------------------------- -------------------------
f) Place of the London Stock Exchange,
transaction AIM Market (XLON)
--- ------------------------------- -------------------------
9. Details of the person discharging managerial
responsibilities / person closely associated
---- ----------------------------------------------------------
a) Name Ralph Welborn
---- ------------------------------- -------------------------
10. Reason for the Notification
---- ----------------------------------------------------------
a) Position/status Director / PDMR
---- ------------------------------- -------------------------
b) Initial notification/Amendment Initial notification
---- ------------------------------- -------------------------
11. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
---- ----------------------------------------------------------
a) Name Imaginatik plc
---- ------------------------------- -------------------------
b) LEI n/a
---- ------------------------------- -------------------------
12. Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii)
each date; and (iv) each place where
transactions have been conducted
---- ----------------------------------------------------------
a) Description Ordinary shares
of the Financial of 1p
instrument,
type of instrument
----
Identification GB00BP8XY588
code
---- ------------------------------- -------------------------
b) Nature of the Subscription of Shares
transaction
---- ------------------------------- -------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ---------- ----------
GBP0.02 582,163
---------- ----------
---- ------------------------------- -------------------------
d) Aggregated information:
* Aggregated volume See above
* Price
---- ------------------------------- -------------------------
e) Date of the 9 June 2017
transaction
---- ------------------------------- -------------------------
f) Place of the London Stock Exchange,
transaction AIM Market (XLON)
---- ------------------------------- -------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFIFRIIAIID
(END) Dow Jones Newswires
June 09, 2017 08:04 ET (12:04 GMT)
Abal (LSE:ABAL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Abal (LSE:ABAL)
Historical Stock Chart
From Jul 2023 to Jul 2024