Completion of disposal

RNS Number : 1172P

Imaginatik PLC

05 February 2019

 

5 February 2019

Imaginatik plc

("Imaginatik" or the "Company")

Completion of disposal of business and assets and change of name

The Board of Imaginatik plc is pleased to announce that the disposal of the Company's trade and assets to Planbox Inc. (the "Disposal"), which was approved by shareholders at the General Meeting held on 28 January 2019, has now completed.

AIM Rule 15 cash shell

The Company is categorised by AIM as an AIM Rule 15 cash shell and as such will be required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules)) on or before the date falling six months from completion of the Disposal or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) failing which, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified. Any failure therefore in completing an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules)) will result in the cancellation of the Company's Ordinary Shares from trading on AIM.

Change of name and website

As part of the terms of the Disposal, the name of the Company will change to "Abal Group plc". This will become effective once Companies House has issued a certificate of incorporation on change of name.  This is expected to occur on 6 February 2019.

The website of the Company is now available at  www.abalplc.com.

The tradeable instrument display mnemonic ("TIDM") of the Company is expected to change to AIM: ABAL effective from 7.00 a.m. on 7 February 2019.

Abal Group plc Angus Forrest CEO	[e-mail]
WH Ireland - Nominated Adviser and joint broker Mike Coe / Chris Savidge	Tel: [phone]
Peterhouse Capital Limited - Broker Duncan Vasey / Lucy Williams	Tel: [phone]

 

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