17 Dec 2008 07:00
17 December 2008
Imaginatik Plc
("Imaginatik" or the "Company")
Share Option Schemes
Imaginatik plc (AIM: IMTK), a leading provider of cost reduction, process improvement and collaborative innovation software and processes, announces that on 12 December 2008, the remuneration committee of the Board approved the re-basing of the exercise price of all share options in issue at that date, to 4p per share, in order to give the management team and employees an effective incentive in this recognisably harder financial environment.
The Company has two share option schemes in place. The Imaginatik Plc Enterprise Management Incentive Scheme (the "Share Option Scheme") and the Imaginatik 2006 Stock Option Plan (the "Stock Option Plan"). There are 6,746,666 share options over ordinary shares of 0.0625p each outstanding under the Share Option Scheme and 3,787,500 share options over ordinary shares of 0.0625p each outstanding under the Stock Option Plan. In addition, there are 2,632,679 share options outstanding under the unapproved share option scheme. Mr. Mark Turrell, CEO and majority shareholder does not hold any options in the Company.
No other changes to the share option deeds, dated 11 December 2006, have been made.
Mark Turrell, Chief Executive Officer commented, "We have been pleased with the performance of the Company over the last 12 months and it is the view of the Board that the rebasing of the share options to this level represents the best means by which we can ensure that our employees continue to be well incentivised. Incentivisation is something which we regard as crucial, especially in the current climate and we believe that the shareholders will enjoy benefits earlier if our personnel have a more achievable interest in the success of Imaginatik."
For further information please contact:
Imaginatik plc Tel: 020 7917 2975
Mark Turrell, CEO / Shawn Taylor, CFO
W.H. Ireland Limited Tel: 0121 265 6330
Tim Cofman / Katy Birkin
ICIS Tel: 020 7651 8688
Caroline Evans-Jones / Mike Smith
About Imaginatik
Imaginatik is the leading provider of cost reduction, process improvement and collaborative innovation software and processes to the world's leading companies. More than 100 clients rely on Imaginatik's software, consulting and research to enable their best-of-breed innovation activities.
Named as a World Economic Forum Technology Pioneer for 2008 and a finalist for the IBM Lotus Awards 2008 in the Best Industry Solution category, Imaginatik's software and consulting services have helped clients discover significant sources of additional revenue, as well as tangible cost savings, process improvements and increased product pipeline. Imaginatik is also committed to developing strategic solutions in the field of innovation, working with academic institutions such as the London Business School and the Cass School of Business, London, as well as leading practitioners of corporate innovation.
For further information please visit www.imaginatik.com