Imaginatik PLC Company Update (4270C)
October 01 2018 - 2:00AM
UK Regulatory
TIDMIMTK
RNS Number : 4270C
Imaginatik PLC
01 October 2018
1 October 2018
Imaginatik plc
("Imaginatik" or the "Company")
Company Update
Imaginatik plc (AIM: IMTK.L) updates shareholders on the present
situation.
Trading
Since the Company's announcement on 4 June 2018, the Company's
financial performance has improved. This is as a result of the
steps taken to reduce costs and since the start of June customers
renewing their contracts, combined with new customer wins
The sales pipeline has been scrutinised and cleaned. Whilst this
has reduced the total value, there is a significant pipeline of
qualified prospects for conversion over the next two quarters,
sufficient to ensure the Company can trade at budget. In addition,
a new marketing programme has commenced, and this is beginning to
generate an increasing number of quality leads.
Appointment of New Nominated Adviser
Further to the announcement on 26 September the Company can
confirm that it is in negotiations with certain Nominated Advisers
with a view to selecting a replacement as soon as possible.
Shareholders will be updated as soon as a replacement Nominated
Adviser has been appointed.
Investment
Several existing and new potential investors have approached the
Company since the announcement on 26 September with interest and
proposals. Since the management changes at the start of June, the
immediate focus of the new team has been for the business to become
self-funding as soon as possible and this continues to be the
aim.
The directors would like to thank all associated with the
Company in this turbulent time and want to reassure shareholders
and others that the priorities of the Board are to appoint a new
Nominated Adviser to ensure the shares resume trading as soon as
possible and that the business performance continues to improve.
Further updates will be made as appropriate.
For further information please contact:
Imaginatik plc Via Alma
Angus Forrest CEO
+44 (0) 20 7220
Peterhouse Capital Limited - Broker 9797
Duncan Vasey / Lucy Williams
Alma PR Tel: 020 8004 4218
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, Sodexo, Caterpillar, Novartis and Cargill.
Imaginatik is a public company traded on the AIM market of the
London Stock Exchange (LSE: IMTK.L, currently suspended) 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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