LONDON (Alliance News) - Imaginatik PLC Tuesday proposed a share consolidation to make its shares more attractive to investors.
The technology products company said it hoped the consolidation would lead to a narrowing of ths bid/offer spread on its shares, improving liquidity. It also said the consolidation would result in a more appropriate number of shares in issue for a company of its size on AIM.
Imaginatik has a market capitalisation of GBP3.4 million.
Imaginatik proposed a consolidation of 1 share of 5 pence nominal value for every existing 80 shares of 0.0625 pence nominal value. Any fractional entitlements arising from the consolidation will be aggregated and sold on the market on behalf of relevant shareholders.
Pre-consolidated shares in Imaginatik were trading up 4.6% at 0.0680 pence Tuesday morning.
The share consolidation is subject to approval from shareholders at an annual general meeting, which Imaginatik has scheduled for August 14.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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