Proposed Share Consolidation and Notice of AGM

RNS Number : 9144M

Imaginatik PLC

22 July 2014

 

Imaginatik Plc

("Imaginatik" or the "Company")

Proposed Share Consolidation and

Notice of Annual General Meeting

Imaginatik plc (AIM: IMTK.L), the world's first full service innovation provider offering a range of technology products and consultancy, has posted a circular to shareholders containing the notice of annual general meeting ("AGM") of the Company ("Circular") and which sets out details of a proposed consolidation of the Company's share capital ("Share Capital Reorganisation").

Under the Share Capital Reorganisation it is proposed that every 80 existing ordinary shares of 0.0625 pence each will be consolidated into one new ordinary share of 5 pence each, with any fractional entitlements arising from the Share Capital Reorganisation being aggregated and sold in the market on behalf of the relevant Shareholders.

The Board believes that the Share Capital Reorganisation will result in a more appropriate number of shares in issue for a company of Imaginatik's size on AIM.  The Share Capital Reorganisation may also help to make the Ordinary Shares more attractive to investors and may result in a narrowing of the bid/offer spread, thereby improving liquidity.

The Share Capital Reorganisation is subject to the approval of shareholders at the AGM which is being held at 12.00 p.m. on 14 August 2014 at the offices of Marriott Harrison LLP, at 11 Staple Inn, London WC1V 7QH. If the resolution is approved, trading in the Capital Reorganisation Shares should begin at 8.00 a.m. on 15 August 2014 with ISIN GB00BP8XY588.

The Capital Reorganisation Shares will have the same rights and benefits as the Ordinary Shares. Each Shareholder who holds 80 or more Ordinary Shares will be issued with Capital Reorganisation Shares. Such Shareholder's proportionate interest in the Company's issued Ordinary Share capital will remain unchanged as a result of the proposed Share Capital Reorganisation.

Further details of the Share Capital Reorganisation are set out in the Circular dated 21 July 2014 which is available on the Company's website at www.imaginatik.com.

The definitions which apply in the Circular have been used in this announcement.

Expected Timetable

Publication of the Circular	21 July 2014
Latest time and date for receipt of Forms of Proxy for the Annual General Meeting	12.00 p.m. on 12 August 2014
Annual General Meeting	12.00 p.m. on 14 August 2014
Record date for Share Capital Reorganisation	5.00 p.m. on 14 August 2014
Admission and first day of dealing in the Capital Reorganisation Shares	8.00 a.m. on 15 August 2014
Credit CREST with Capital Reorganisation Shares	15 August 2014
Despatch of share certificates for Capital Reorganisation Shares	by 22 August 2014

For further information please contact:  

Imaginatik plc	Tel: [phone]
Matt Cooper, Executive Chairman / Shawn Taylor, CFO
finnCap	Tel: [phone]
Charlotte Stranner/ Victoria Bates
Newgate Threadneedle	Tel: [phone]
Caroline Forde / Hilary Millar

About Imaginatik

Imaginatik® is the world's first full-service innovation provider. We have 16 years of experience building innovation into a sustainable competence at some of the world's largest and most respected companies. Through a mix of consulting and advisory, hands-on innovation projects and program management, and our award-winning enterprise software platform, we help clients develop innovation capability into a permanent competitive advantage. Imaginatik is the trusted partner of leading organisations including Blue Cross Blue Shield, CSC, Cargill, The World Bank, Mayo Clinic, The Chubb Group of Insurance Companies, HCA, Dow Chemical and Goodyear.

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 Fareham, UK. For more information visit www.imaginatik.com.

 

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