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Update on potential equity investment

17 Sep 2018 07:00

RNS Number : 8828A
Imaginatik PLC
17 September 2018
 

 

Imaginatik PLC

("Imaginatik" or the "Company")

Update on potential equity investment

 

Imaginatik plc (AIM: IMTK.L), the #1 ranked leader in corporate innovation management according to Forrester Research, provides a further update following the announcement made on 4 September 2018.

 

The Company confirms that the investor continues to be in discussions to make a controlling equity investment in the Company, however it is now likely to be at a price of 2.0 pence per ordinary share (the "Equity Investment").

 

In relation to the Equity Investment, the Company is still in the process of seeking confirmations from certain independent shareholders of the Company, in order to obtain, on behalf of the investor, a dispensation in accordance with Note 5(c) in the Notes on Dispensations from Rule 9 of the City Code on Takeovers and Mergers (the "Code") from the obligation for the investor to make a mandatory offer under Rule 9 of the Code.

 

The Company appreciates that the process around the Equity Investment has taken longer than expected, however both discussions with the investor and independent shareholders are progressing well.

 

The Company will make a further announcement as soon as appropriate.

 

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, ECM

 

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 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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