Issue of Equity

RNS Number : 9954W

Imaginatik PLC

08 February 2012

 

8 February 2012

Imaginatik Plc

("Imaginatik" or "the Company")

Issue of Equity

Imaginatik plc (AIM:IMTK), a leading provider of enterprise innovation services including a range of technology products and consultancy, is pleased to announce that following demand from certain existing and new investors, 85,505,352 new ordinary shares of 0.0625p each in the Company ("Subscription Shares") have been subscribed for at a price per share of 0.3 pence (the "Subscription Price"), to raise £256,516 before expenses. The Company intends that the net proceeds of the issue will be used for working capital purposes.

Application has been made for the new Shares to be admitted to trading on AIM, and dealings in the Subscription Shares are expected to commence at 8.00 a.m. on 13 February 2012 ("Admission"), following which the Company will have 513,032,110 Ordinary Shares in issue. This figure may be used by shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

The Directors named below have subscribed for Subscription Shares as set out below at the Subscription Price:

Name of Director	Number of Subscription Shares
	conditionally subscribed for
Simon Charles	3,284,270
Matt Cooper	22,327,693
David Gammon	7,442,564
Brian Hays	954,175
Shawn Taylor	893,108

Each Directors' interests in Ordinary Shares in the Company is accordingly as follows:

Name of Director	Ordinary Shares held legally or beneficially	Options to subscribe for new Ordinary Shares	Agreement to subscribe for Subscription Shares	Aggregate interests in Ordinary Shares at Admission	Aggregate percentage of issued share capital at Admission
Simon Charles	8,702,501	-	3,284,270	11,986,771	2.34
Matt Cooper	32,811,922	3,125,000	22,327,693	58,264,615	11.36
David Gammon	5,000,000	-	7,442,564	12,442,564	2.43
Nick Goss	-	-	-	-	-
Brian Hays	6,000,000	-	954,175	6,954,175	1.36
Luis Solis	-	4,000,000	-	4,000,000	0.78
Shawn Taylor	5,712,192	6,200,000	893,108	12,805,300	2.50

The interests of Mr Gammon set out above in ordinary shares include those of his wife, Sarah Gammon.

The aggregate subscription by the Directors (the "Directors' Participations") constitutes a related party transaction for the purposes of the AIM Rules. Luis Solis, the Director who is deemed to be independent for the purposes of this participation in the subscription, considers, having consulted with Northland Capital Partners Limited as the Company's nominated adviser, that the terms of the Directors' Participations are fair and reasonable insofar as Shareholders are concerned.

Executive Chairman of Imaginatik, Matt Cooper, commented, "We have taken significant strides forward in recent months, strengthening our team, investing in our technology products and services and securing some of the world's largest businesses as customers. We are delighted that this progress has resulted in increased interest from employees and investors to fund the Company. Imaginatik is in a strong position, with a good sales pipeline and a motivated team and we continue to be focused on delivering the positive results our shareholders deserve."

For further information please contact:  

Imaginatik plc	Tel: [phone]
Matt Cooper, Executive Chairman / Shawn Taylor, CFO
Northland Capital Partners Limited	Tel: [phone]
Gavin Burnell / Edward Hutton
Newgate Threadneedle	Tel: [phone]
Caroline Evans-Jones / Hilary Millar

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, NYSE, The Chubb Group of Insurance Companies, Boeing, Pfizer, Goodyear, Paccar, Kellogg 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. This is Imaginatik's area of expertise.

Imaginatik is a public company whose shares are traded on the AIM market of the London Stock Exchange (LSE:IMTK.L) and is a World Economic Forum Technology Pioneer with offices in Boston, MA, and Winchester, UK. For more information visit www.imaginatik.com.

 

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