Imaginatik PLC Issue of Equity (2050Y)
August 17 2018 - 10:40AM
UK Regulatory
TIDMIMTK
RNS Number : 2050Y
Imaginatik PLC
17 August 2018
17 August 2018
Imaginatik PLC
("Imaginatik" or the "Company")
Issue of Equity
Imaginatik plc (AIM: IMTK.L), the #1 ranked leader in corporate
innovation management according to Forrester Research, today
announces that it has issued 1,443,820 new ordinary shares of 0.02p
("Ordinary Shares") in relation to an exercise of warrants and
settlement of amounts outstanding to a creditor, Matthew
Cooper.
950,000 Ordinary Shares have been issued pursuant to an exercise
of warrants at an exercise price of 5p per warrant (the
"Warrants"). The Warrants were granted to and exercised by
Peterhouse Capital Limited pursuant to the fundraising announced by
the Company on 5 June 2018. The proceeds are to be used for working
capital.
In addition, the Company has carried out a debt for equity swap
in relation to outstanding salary of GBP24,691 owed to Matthew
Cooper during his time as Chairman of the Company resulting in a
further issue of 493,820 Ordinary Shares being issued at 5p per
Ordinary Share (the "Transaction").
The issue of the Creditor Shares is deemed to be a related party
transaction as Matthew Cooper is a substantial shareholder as well
as a former director of the Company. The directors consider, having
consulted with its nominated adviser, that the terms of the
Transaction are fair and reasonable insofar as its shareholders are
concerned.
Application for Admission
Application will be made for 1,443,820 Ordinary Shares to be
admitted to trading on AIM. It is expected that admission will take
place and trading in the new ordinary shares will commence at
8.00am on 23 August 2018.
Total voting rights
Following Admission, the Company's enlarged issued share capital
will be 34,442,531 Ordinary Shares. The Company does not hold any
shares in Treasury. Therefore the total number of Ordinary Shares
with voting rights will be 34,442,531. This figure may be used by
shareholders in the Company as the denominator for the calculations
to determine if they are required to notify their interest in, or a
change to their interest in, the Company, under the FCA's
Disclosure and Transparency Rules.
Further update
Further to the Company's announcement on 26 July 2018, the
Company confirms that Vin Murria continues to be in discussions to
make a controlling equity investment in the Company which is now
likely to be at a price of 2.5 pence per Ordinary Share,
conditional on the Takeover Panel waiving the obligation for her to
make a general offer for the Company under Rule 9 of the Takeover
Code.
A further announcement will be made at the appropriate time.
This announcement contains inside information for the purposes
of article 7 of Regulation 596/2014
For further information please contact:
Imaginatik plc Tel: 01329 243
243
Shawn Taylor, CFO
Tel: 020 7220 0500
finnCap Ltd - Nomad and broker
Jonny Franklin-Adams/Max Bullen-Smith, corporate
finance
Camille Gochez, corporate broking
Tel: 020 7220 9797
Peterhouse Capital Limited - Joint broker
Duncan Vasey / Lucy Williams
Tel: 020 8004 4218
Alma PR
Caroline Forde / Robyn Fisher
About Imaginatik
Imaginatik is the only innovation solution provider which has
combined a proven innovation program with purpose-built idea
management software to enable companies to achieve breakthrough and
continuous innovation at scale. Imaginatik works with leading
global enterprises to build and integrate innovation management
skills as a core competency. Customers include ExxonMobil, Altria,
Shell, Goodyear, AECOM, Caterpillar, Novartis and Cargill.
Imaginatik is a public company traded on the AIM market of the
London Stock Exchange (LSE: IMTK.L) with offices in Boston, MA, USA
and Fareham, U.K.
For more information visit www.imaginatik.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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