Imaginatik PLC Trading Statement (6570M)

TIDMIMTK

RNS Number : 6570M

Imaginatik PLC

01 May 2018

1 May 2018

Imaginatik plc

("Imaginatik" or "the Company")

Trading Update

Imaginatik plc (AIM: IMTK.L), the innovation company, today provides an update on trading for the year ended 31 March 2018.

Recognised revenues for the year are expected to be GBP3.7m (2017: GBP3.9m), with overall bookings amounting to GBP3.6m* (2017: GBP3.2m*). The renewal rate in the year increased, with approximately 88% of the renewals by value being converted over the period (2017: 76%).

A total number of 13 new customers were signed during the year (2017: 15), seven of which are on annual or multi-year contracts consisting of both technology and consulting, two short term pilot projects and three consulting engagements. New customers include a major US airline and several large financial institutions including a large financial services group in Asia, a large US based investment advisor and a global investment bank headquartered in Australia.

The directors continue to carefully monitor the Company's cash position and it may become necessary to seek additional funding in order to successfully progress the ongoing formal sale process.

*At constant currency - US$ 1.4223

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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 
 Caroline Forde 
 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, 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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