25 Jul 2018 13:05
Imaginatik PLC
("Imaginatik" or the "Company")
Share price movement
Imaginatik plc (AIM: IMTK.L), the #1 ranked leader in corporate innovation management according to Forrester Research, notes its share price movement and can confirm that it is in the latter stages of negotiations with VM AV Corporate Services Limited (an investment vehicle of Vin Murria) for a £500,000 loan to be issued to the Company subject to finalisation of standard documentation.
Vin Murria is also in discussions to make a controlling equity investment (the "Equity Investment") at a price of between 2.5 pence and 5 pence per Ordinary Share in the Company 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.
There can be no guarantee that any of the above agreements will proceed.
Should Vin Murria's Equity Investment be completed, and pursuant to Rule 22 of the AIM Rules for Nominated Advisers regarding conflicts of interest, finnCap will step down from their role as NOMAD with immediate effect as Vin Murria on the board of finnCap Ltd. It is envisaged that Vin will join the Board of Imaginatik, subject to regulatory checks.
Pursuant to Rule 1 of the AIM Rules, if the company does not appoint a replacement NOMAD upon the completion of the equity investment and finnCap's subsequent resignation, it will be suspended with immediate effect. The Company would then have one further month to appoint a replacement Nominated Adviser or else the admission of its AIM securities will be cancelled.
The Company is currently in discussions with a number of NOMAD firms with a view to announcing a replacement in due course.
A further announcement will be made at the appropriate time.
For further information, please contact:
Imaginatik plc | Tel: 01329 243 243 |
Angus Forrest, CEO 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.