29 Sep 2010 07:00
29 September 2010
Imaginatik plc
("Imaginatik" or the "Company")
AGM Statement
Contract Win and Management Appointments
At the Company's Annual General Meeting to be held later today, Matthew Cooper, Executive Chairman of Imaginatik plc (AIM: IMTK.L), a leading provider of idea management software and innovation consultancy, will make the following statement:
"We continue to make steady progress towards achieving our strategic goals. A new management team is now largely in place and has been further strengthened by the two recent appointments referred to below.
"As stated in the announcement dated 18 August 2010, we believe that it will take time to rebuild the Company's sales pipeline. However, the recently announced contract wins and a further win with the U.S. Government announced today are evidence of a growing momentum.
"While the re-organisation of the business earlier this year will inevitably have an impact on results for the first half of the year, we expect to see a return to more normal levels of sales in the second half.
"The calibre of people joining our team and the high profile customers with whom we continue to work give us confidence in the future of Imaginatik."
The Company also announces today a contract win and two senior management team appointments.
Contract to supply innovation solutions to the United States Government, General Services Administration
Imaginatik has been selected as a strategic innovation solutions provider by QinetiQ North America, Inc. in support of the United States Government, General Services Administration (the "GSA"). QinetiQ North America, one of the world's leading defence technology and security companies, has issued Imaginatik a six month Subcontract Agreement worth over $400,000, with one six month option period, to assist in enabling Business Transformation and Collaboration at the GSA. Under this Agreement, Imaginatik will use its Idea Central Collaboration Platform to assist GSA in identifying innovation strategies to enhance business practices. It includes licenses for GSA's 15,000 associates, facilitation and programme management support, and various training initiatives to foster collaboration at GSA.
Senior Appointments
Imaginatik is also pleased to announce it has made two recent senior appointments to strengthen the Company's sales and product development capabilities. Neither appointment is a Board position.
Kevin Grygiel has been appointed Global Vice-President of Sales. Based in Boston, Kevin will lead the sales organisation, reporting to Luis Solis the Vice-President of Business Development. Kevin has more than 20 years in software sales, with the last eight years at SiteScape Inc. a collaboration and social media software business. This appointment affirms the Company's commitment to bringing in high calibre sales executives with relevant expertise capable of growing the business.
Robin Spencer, previously Senior Research Fellow, Idea Management & Innovation at Pfizer Inc., has joined Imaginatik as Director of Research. Rob will work within the Product Development team in building out all future product enhancements and will continue Imaginatik's tradition of leading edge empirical research within our field of innovation and collaborative problem solving.
For further information please contact:
| Imaginatik plc | Tel: 020 7917 2975 |
| Matthew Cooper, Chairman / Shawn Taylor, CFO |
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| Arbuthnot Securities Limited | Tel: 020 7012 2000 |
| Tom Griffiths |
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| Threadneedle Communications | Tel: 020 7653 9850 |
| Caroline Evans-Jones / Hilary Millar |
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About Imaginatik
Imaginatik provides Innovation and idea management solutions to companies such as The Chubb Group of Insurance Companies, Boeing, Pfizer, Xerox, Goodyear and Cargill. Few companies possess the internal capability to consistently generate fresh ideas, identify those worth pursuing and reliably transform them into real, value-enhancing assets. This is Imaginatik's area of expertise.
Imaginatik provides customers with strategic consulting, the award-winning Idea Central technology solution and an experienced, results-oriented innovation consulting team.
Imaginatik is a public company whose shares are traded on the AIM market of the London Stock Exchange (LSE:IMTK.L) and a World Economic Forum Technology Pioneer with offices in Boston, MA, and London. In 2009, Imaginatik was named as one of the 500 fastest growing technology companies in the EMEA region by Deloitte.
For more information visit www.imaginatik.com.