IMTK short term Price target30 Jul 2015 03:08
Quob Park Estate have released a short-term target of at least 20p for Imaginatik (IMTK) and now own over 8% of the company.
Current Holding
Quob Park Estate currently hold over 8% of Imaginatik, having previously acquired stock at levels up to circa 9p.
Quob Park Estate remain active buyers of Imaginatik stock, and currently expect to continue to accumulate stock in Imaginatik whilst the share price is below 10p.
Subject to milestones being met by Imaginatik, our short-term price target for the company is at least 20p. The current share price levels provide the opportunity to significantly exceed our investment criteria of producing at least a 50% return for Quob Park Estate within 12 months, and which would still be met with an IMTK share price of circa 13.5p.
Next steps and updates for Quob Park Estate stakeholders
The next board-level discussions with Imaginatik are planned for the 19th August. These will include the Chairman of Imaginatik, who is also the largest IMTK shareholder, with a holding of circa 27%.
As well as the meeting in August, we will also be sending an open letter to the board of Imaginatik, which we will share with Quob Park Estate stakeholders and Daniel Stewart in their capacity as a key advisor to IMTK. The letter will contain an overview of the broad strategy behind our investment, and will lay out our vision for what could be achieved in the short to mid-term if this strategy is followed by the company.
High Net Worth or Sophisticated Investors holding Imaginatik shares
Quob Park Estate will be accepting IMTK stock as payment during our Q3 fundraise. We will value the stock at 7.5p, or the average trading price for the five trading days prior to your investment in QPE (up to the price of 10p), whichever is the greater. This method of investment into Quob Park Estate is open only to High Net Worth or Sophisticated Investors.
Additional details on the above will be provided in August.
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