Imaginatik PLC Completion of disposal (1172P)
February 05 2019 - 5:08AM
UK Regulatory
TIDMIMTK
RNS Number : 1172P
Imaginatik PLC
05 February 2019
5 February 2019
Imaginatik plc
("Imaginatik" or the "Company")
Completion of disposal of business and assets and change of
name
The Board of Imaginatik plc is pleased to announce that the
disposal of the Company's trade and assets to Planbox Inc. (the
"Disposal"), which was approved by shareholders at the General
Meeting held on 28 January 2019, has now completed.
AIM Rule 15 cash shell
The Company is categorised by AIM as an AIM Rule 15 cash shell
and as such will be required to make an acquisition or acquisitions
which constitutes a reverse takeover under AIM Rule 14 (including
seeking re-admission as an investing company (as defined under the
AIM Rules)) on or before the date falling six months from
completion of the Disposal or be re-admitted to trading on AIM as
an investing company under the AIM Rules (which requires the
raising of at least GBP6 million) failing which, the Company's
Ordinary Shares would then be suspended from trading on AIM
pursuant to AIM Rule 40. Admission to trading on AIM would be
cancelled six months from the date of suspension should the reason
for the suspension not have been rectified. Any failure therefore
in completing an acquisition or acquisitions which constitutes a
reverse takeover under AIM Rule 14 (including seeking re-admission
as an investing company (as defined under the AIM Rules)) will
result in the cancellation of the Company's Ordinary Shares from
trading on AIM.
Change of name and website
As part of the terms of the Disposal, the name of the Company
will change to "Abal Group plc". This will become effective once
Companies House has issued a certificate of incorporation on change
of name. This is expected to occur on 6 February 2019.
The website of the Company is now available at
www.abalplc.com.
The tradeable instrument display mnemonic ("TIDM") of the
Company is expected to change to AIM: ABAL effective from 7.00 a.m.
on 7 February 2019.
Abal Group plc info@abalplc.com
Angus Forrest CEO
WH Ireland - Nominated Adviser and Tel: +44 (0)117 945 3470
joint broker
Mike Coe / Chris Savidge
Peterhouse Capital Limited - Broker Tel: +44 (0) 20 7220 9797
Duncan Vasey / Lucy Williams
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END
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