24 Jun 2008 07:00
Imaginatik Plc (the "Company")
Non-executive Director Letters of Appointment
24 June 2008
Under the terms of the non-executive directors' letter of appointment dated 11 December 2006 in respect of Mr Howard Marshall, Mr Paul Morland and Mr Phil Nutburn (the "Non-Executive Directors"), each Non-Executive Director was paid their fees in new Ordinary shares ("Ordinary Shares") in advance in respect of his initial 12 months of appointment being £30,000, £10,000 (with an additional £15,000 payable in cash to Arbuthnot Securities Limited) and £25,000, respectively.
Under the terms of the same letters of appointment, it was agreed that the Non-Executive Directors would receive new Ordinary shares of 0.0625p in the Company in respect of each subsequent six month period following the end of the initial 12 month term to the value of £15,000 in the case of Mr Marshall, £7,500 in the case of Mr Morland and £12,500 in the case of Mr Nutburn. These Ordinary Shares were to be issued at the average mid market closing price of an Ordinary Share as derived from the London Stock Exchange's Daily Official List for the last five days of such period and within 20 business days of the expiry of the relevant period.
Consequently, at an average price of 4.75p being the average price of an Ordinary Share in Imaginatik over the five dealing days prior to and including 10 June 2008 being 4 June 2008 to 10 June 2008, a total of 736,842 new Ordinary Shares have today been issued. 315,789 Ordinary Shares have been issued to Mr Marshall, 157,895 Ordinary Shares to Mr Morland and 263,158 Ordinary Shares to Mr Nutburn. The shareholdings of the Non-Executive Directors before, and after, this issue of Ordinary Shares are as follows:
| Non-Executive Director | Number of Ordinary Shares held prior to Non-Executive share issue | % of issued share capital | Number of Ordinary Shares held following Non-Executive share issue | % of issued share capital as at 30 June 2008 |
| Howard Marshall | 1,358,334 | 1.09 | 1,674,123 | 1.33 |
| Paul Morland | 666,668 | 0.53 | 824,563 | 0.66 |
| Phillip Nutburn | 333,333 | 0.27 | 596,491 | 0.47 |
Application for admission of 736,842 new Ordinary Shares ("Admission") has been made and is expected to occur on 30 June 2008.
Following Admission, the Company will have 125,827,799 Ordinary Shares in issue.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.
Enquiries:
Imaginatik Plc
Shawn Taylor, CFO
0207 917 2975
www.imaginatik.com
W.H. Ireland
Katy Birkin
0121 265 6330
Investor relations and UK media
ICIS
Tom Moriarty/Caroline Evans-Jones
0207 651 8688