LONDON (Alliance News) - Imaginatik PLC on Tuesday confirmed that former Quindell PLC chief Rob Terry and his Quob Park Estate investment vehicle have built up a stake in the company of more than 3%.
Shares in Imaginatik have pushed higher in recent days amid reports that Terry was building up a stake in the company. On Monday, the consultancy and technology products business said it was unaware of any reason for the recent rise in its share price but said it was aware that Quob Park Estate is building a stake.
On Tuesday, it said Terry now holds 2.5 million shares in the company, both directly and via Quob Park, representing 3.032% of the issued share capital of Imaginatik. This includes the acquisition of around 1 million shares in the company on Friday, which were acquired at 3.42 pence to 6.22 pence.
The news sent shares in Imaginatik higher in early trade on Tuesday, with its shares trading up10% to 8.3855 pence to be among the best performers in the AIM All-Share.
Terry is the former chairman of AIM-listed insurance technology and outsourcing business Quindell PLC and was ousted from his position in 2014 after he became embroiled in controversial share dealings.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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