Director Loan

RNS Number : 1610Z

Imaginatik PLC

16 September 2015

 

Imaginatik Plc

("Imaginatik" or "the Company")

Director Loan

Imaginatik plc (AIM: IMTK.L), the world's first full service innovation provider offering a range of consultancy and technology products, announces that Matt Cooper, Non-Executive Chairman, has agreed to lend to the Company the sum of $110,000 (the "Loan") for use in connection with the Company's short term working capital requirements pending receipt of funds due from certain clients and to cover minor delays in closing out several renewal contracts.

The Loan is unsecured, carries interest at a rate of 10 per cent. per annum and is available to be drawn down in one tranche. The Loan is repayable in full together with all accrued interest as soon as the Company is in receipt of the funds from certain clients.

As Matt Cooper is a director of the Company, the Loan, combined with his previous loan to the Company announced in January 2015, the issue of options announced in December 2015 and his participation in the subscription announced in July 2015, constitutes a related party transaction pursuant to AIM Rule 13. The independent directors (being Ralph Welborn, Shawn Taylor and Simon Charles) consider, having consulted with the Company's nominated adviser, finnCap Limited, that the terms of the Loan are fair and reasonable insofar as its shareholders are concerned.

For further information please contact:  

Imaginatik plc	Tel: [phone]
Matt Cooper Non-Executive Chairman Ralph Welborn, CEO Shawn Taylor, CFO
finnCap Ltd	Tel: [phone]
Jonny Franklin-Adams/Giles Rolls
Daniel Stewart & Company Martin Lampshire/David Coffman	Tel: [phone]
Newgate Threadneedle	Tel: [phone]
Adam Lloyd / Ed Treadwell / Jasper Randall

About Imaginatik

Imaginatik provides a range of Innovation solutions comprised of consultancy, enterprise software and program management to deliver innovation results to companies such as The World Bank, The Chubb Group of Insurance Companies, State Farm, Exxon Mobil, ,Goodyear, the Yorkshire Building Society, Pitney Bowes and Cargill. Few companies possess the internal capability to consistently generate fresh ideas, identify those worth pursuing and reliably transform them into real, value-enhancing assets. Imaginatik's mission is to help these companies build sustainable innovation competencies.

Imaginatik is a public company whose shares are traded on the AIM market of the London Stock Exchange (LSE:IMTK.L) and is a World Economic Forum Technology Pioneer with offices in Boston, MA, and Fareham, UK. For more information visit www.imaginatik.com.

 

END

 

 

MSCZMGMLVKVGKZM