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A couple of huge sells gone through at 1p and price hasnt gone down. Could they instead of worked buys?
Mannnan you said a few weeks ago selling business isnt a good idea? Why did you change your mind?
Stillwaiting the only saving grace here is that af is in at 5p per share but couldn't he take salary to recoup. Obviously can't take dividend as not profitable
anyone even looking at these micro-caps is fully aware of the risks but to be fair cake was valued at nearly £600m and went kaput within 3 months..
once AF lays out the vision, Abal can start imho if a first deal is lined up quickly all the better.
talk of excessive director pay etc is nonsense. I think AF will want to prove a point with imtk/abal
with high risk comes high rewards hopefully,
But i dont think he will until he gets his investment back
not sure why angus leave at any time.
He could but he would have to give a fair bit of notice
To be fair Angus could leave at any time.
I agree we should hear something soon. I'm still invested but keeping some powder dry in case the cash raised from the sale isnt enough on its own. I've seen 'shells' do a reverse takeover before and terms were complicated and involved issuing of shares to raise more funds for the 'new' Company. Not a problem if the plan is to hold ABAL long term but could see a dip on the news announcement so worth having a few quid to top up then... But to be honest, it's all guess work and a case of trusting those at the helm. Come on Angus are you staying on and, if so, what are you planning?
The net cash proceeds arising from the Disposal are expected to be approximately £1.4 million and will be utilised first to extinguish the Company's liabilities. Net of these liabilities the Company is expected to have a free cash balance of approximately £1.0 million on Completion after receipt of the initial consideration.
It is anticipated that the cash to be received by the Company will be used to acquire another business(es) which the directors believe will deliver greater returns for investors.
Mannan if no deal you'll sell in 6 months time at a much lower shareprice than todays with the added dilution and lower cash in bank (gone to directors' salaries etc)
hello champion ...if no deal will sell in 6 months time ...by the way got some today
Now AF can progress with the new direction for ABAL.
As SW comments we probably won’t have to wait long.
Yes you'll lose all of your money if an acquisition isn't found and agree upon within 6 months. Very risky play here...riskier than when I first invested. We know longer own any oart of IMTK clients, assets etc
To the money if John Treacy is involved.
Just look at the state of 8 Capital which was Monreal plc. Trading from 0.70 to 0.35 to now 00.3 with no money left.
Most of it pumped into here which like his other investments ( a bond with hardly a return, investment into another of his own companies )will be slowly drip fed into there bank accounts.
Good luck.
same shares, just they will be listed as ABAL.
we await to see what AF & 8C thought would be better than having a global client base to exploit !!
Don't think we will have to wait too long.
Do we lose our shares?
failing which, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40.
28 January 2019
Imaginatik plc
(the "Company")
(AIM: IMTK)
Result of General Meeting
Imaginatik Plc (AIM:IMTK), announces that at the General Meeting of the Company held today, all resolutions put to shareholders were duly passed. Accordingly, the disposal of the Company's trade and assets to Planbox Imaginatik Limited (the "Disposal") and change of name to "Abal plc", details of which were announced on 10 January 2019, have been approved.
As the sale has now been ratified by shareholders the completion of the Disposal is expected on or before the close of business on 4 February 2019.
Effect of the Disposal
Following completion of the Disposal, the Company will become 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
Shareholders have approved the change of Company name to Abal plc. The change of name will be effective once Companies House has issued a certificate of incorporation on change of name. This is expected to take place as soon as practical following completion. The tradable instrument display mnemonic ("TIDM") of the Company is expected to change to ABAL with effect from 7 a.m. on the day following completion.
Website
Following the change of name the Company website address will be www.abalplc.com.
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
zero value in for any direction at the moment..
as soon as we see the focus of Abal group, I think we will have a quick rerating and a return of interest.
technology, robotics, A.I, IoT, machine learning ?
it will find new direction in this week
I suspect those who look forward to the new direction picked up a few there.
right time to get in again imhp
again
set for new deals and I.T/AI focus ?
Just taken that 250k and will take another in a day or two