Result of General Meeting and Exercise of Options

RNS Number : 8913G

Imaginatik PLC

12 May 2014

 



Imaginatik Plc

("Imaginatik" or "the Company")

Result of General Meeting and Exercise of Options

Result of General Meeting

Imaginatik plc (AIM: IMTK.L), the world's first full service innovation provider offering a range f technology products and consultancy, is pleased to announce that at the Company's General Meeting held earlier today, all resolutions put to shareholders were duly passed.

Accordingly, 1,804,285,715 ordinary shares of 0.0625 pence each in the capital of the Company ("Ordinary Shares") have been allotted pursuant to the placing of and subscription for new Ordinary Shares as announced on 25 April 2014 ("the Fundraising"). Application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on 15 May 2014.

As at Admission, David Gammon will step down as a non-executive director of the Company. The board of Imaginatik thanks him hugely for his contribution during a key stage of the Company's development.

Exercise of Options

Furthermore, the Company announces the exercise of options by certain directors under the Imaginatik plc Enterprise Management Incentive Scheme ("EMI Scheme").

As announced at the time of the Company's fundraise in May 2013, pursuant to the Remuneration Re-investment Programme (further details of which were set out in the circular sent to shareholders on 26 April 2013) certain directors committed to subscribe for new Ordinary Shares at a price of 0.0625 pence. The new Ordinary Shares were to be issued following the contractual exercise of options which were to be granted under the EMI Scheme in tranches between 31 May 2013 and 31 March 2014. To that end, on 12 May 2014, the following directors have exercised the following options relating to those granted between 31 December 2013 and 31 March 2014 at a price of 0.0625 pence per Ordinary Share.

Director	EMI Scheme Options Exercised	Resulting Number of Shares Held	% of total issued share capital, as enlarged by the EMI Options
Matt Cooper, Executive Chairman	27,518,208	339,339,615	10.8
Shawn Taylor, CFO	3,101,742	21,005,300	0.7
Total	30,619,950	360,344,915	11.5

The Company therefore announces the allotment of 30,619,950 Ordinary Shares under its block listing facility which were issued for cash at a price of 0.0625 pence per Ordinary Share. 

Directors' Shareholdings

The following table sets out the interests of the Directors in the issued Ordinary Shares of the Company following Admission of the new Ordinary Shares in relation to the Fundraising:

Director	Number of Ordinary Shares following Admission	% of total issued share capital as enlarged by new Ordinary Shares in relation to the Fundraising
Matt Cooper	1,053,625,330	21.3
David Gammon*	226,156,850	4.6
Shawn Taylor	28,148,157	0.6
Simon Charles	59,511,771	1.2

*stepping down as a non-executive director as at Admission

Total Voting Rights

The number of Ordinary Shares in issue following the exercise of the options as per above is now 3,135,314,691. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of shares with voting rights in the Company is 3,135,314,691. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.

Following Admission of the new Ordinary Shares in relation to the Fundraising, the number of Ordinary Shares in issue will be 4,939,600,406. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of shares with voting rights in the Company following Admission will be 4,939,600,406.  This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.

For further information please contact:  

Imaginatik plc	Tel: [phone]
Matt Cooper, Executive Chairman / Shawn Taylor, CFO
finnCap Ltd	Tel: [phone]
Charlotte Stranner/ Victoria Bates
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, The Chubb Group of Insurance Companies, State Farm, Exxon Mobil, Pfizer, Goodyear, the Yorkshire Building Society, Pitney Bowes 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) 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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