Imaginatik confirms further delay with equity investment

(Sharecast News) - Corporate innovation management provider Imaginatik updated the market on its potential equity investment on Monday, confirming that the investor was still in discussions to make a controlling equity investment in the company.The AIM-traded firm said it was now likely to be at a price of 2p per ordinary share, however.It said that, in relation to the equity investment, it was still in the process of seeking confirmations from "certain independent shareholders" in order to obtain, on behalf of the investor, a dispensation from the City Code obligation for the investor to make a mandatory offer under Rule 9."The company appreciates that the process around the equity investment has taken longer than expected, however both discussions with the investor and independent shareholders are progressing well," the Imaginatik board said in its statement.It said it would make a further announcement as soon as appropriate.