17 Aug 2018 15:40
17 August 2018
Imaginatik PLC
("Imaginatik" or the "Company")
Issue of Equity
Imaginatik plc (AIM: IMTK.L), the #1 ranked leader in corporate innovation management according to Forrester Research, today announces that it has issued 1,443,820 new ordinary shares of 0.02p ("Ordinary Shares") in relation to an exercise of warrants and settlement of amounts outstanding to a creditor, Matthew Cooper.
950,000 Ordinary Shares have been issued pursuant to an exercise of warrants at an exercise price of 5p per warrant (the "Warrants"). The Warrants were granted to and exercised by Peterhouse Capital Limited pursuant to the fundraising announced by the Company on 5 June 2018. The proceeds are to be used for working capital.
In addition, the Company has carried out a debt for equity swap in relation to outstanding salary of £24,691 owed to Matthew Cooper during his time as Chairman of the Company resulting in a further issue of 493,820 Ordinary Shares being issued at 5p per Ordinary Share (the "Transaction").
The issue of the Creditor Shares is deemed to be a related party transaction as Matthew Cooper is a substantial shareholder as well as a former director of the Company. The directors consider, having consulted with its nominated adviser, that the terms of the Transaction are fair and reasonable insofar as its shareholders are concerned.
Application for Admission
Application will be made for 1,443,820 Ordinary Shares to be admitted to trading on AIM. It is expected that admission will take place and trading in the new ordinary shares will commence at 8.00am on 23 August 2018.
Total voting rights
Following Admission, the Company's enlarged issued share capital will be 34,442,531 Ordinary Shares. The Company does not hold any shares in Treasury. Therefore the total number of Ordinary Shares with voting rights will be 34,442,531. This figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company, under the FCA's Disclosure and Transparency Rules.
Further update
Further to the Company's announcement on 26 July 2018, the Company confirms that Vin Murria continues to be in discussions to make a controlling equity investment in the Company which is now likely to be at a price of 2.5 pence per Ordinary Share, conditional on the Takeover Panel waiving the obligation for her to make a general offer for the Company under Rule 9 of the Takeover Code.
A further announcement will be made at the appropriate time.
This announcement contains inside information for the purposes of article 7 of Regulation 596/2014
For further information please contact:
Imaginatik plc | Tel: 01329 243 243 |
Shawn Taylor, CFO | |
finnCap Ltd - Nomad and broker | Tel: 020 7220 0500 |
Jonny Franklin-Adams/Max Bullen-Smith, corporate finance | |
Camille Gochez, corporate broking | |
Peterhouse Capital Limited - Joint broker | Tel: 020 7220 9797 |
Duncan Vasey / Lucy Williams | |
Alma PR | Tel: 020 8004 4218 |
Caroline Forde / Robyn Fisher |
About Imaginatik
Imaginatik is the only innovation solution provider which has combined a proven innovation program with purpose-built idea management software to enable companies to achieve breakthrough and continuous innovation at scale. Imaginatik works with leading global enterprises to build and integrate innovation management skills as a core competency. Customers include ExxonMobil, Altria, Shell, Goodyear, AECOM, Caterpillar, Novartis and Cargill.
Imaginatik is a public company traded on the AIM market of the London Stock Exchange (LSE: IMTK.L) with offices in Boston, MA, USA and Fareham, U.K.
For more information visit www.imaginatik.com.