Funding Update

RNS Number : 4941Y

Imaginatik PLC

17 May 2016

 

Imaginatik plc

("Imaginatik" or "the Company")

Funding update

Further to the announcement made earlier today with respect to recent press speculation, the Company notes the comments regarding price, structure, quantum and timing of a fundraise.

The Board can confirm that it has received a good level of interest from existing and new investors and that it is looking to raise approximately £2.0m of which £500,000 is likely to be structured to allow some pro rata participation by existing shareholders. Whilst no decision has yet been taken on price, it can confirm that discussions with certain investors envisaged a price of 2.5 pence.

The timing of any fundraising has yet to be confirmed but an update is likely to be provided within a week. As set out in the earlier announcement, investors should note that there can be no certainty a fundraising will be completed.

For further information please contact:  

Imaginatik plc	Tel: [phone]
Matt Cooper, Non-Executive Chairman
Ralph Welborn, CEO
Shawn Taylor, CFO
finnCap Ltd	Tel: [phone]
Jonny Franklin-Adams/Giles Rolls, corporate finance
Camille Gochez, corporate broking
Alma PR	Tel: [phone]
Hilary Buchanan
Caroline Forde

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 The World Bank, The Chubb Group of Insurance Companies, Exxon Mobil, Altria, Shell, Mayo Clinic, Goodyear, the Yorkshire Building Society, Caterpillar 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.

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.

 

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