Issue of Equity

RNS Number : 3451T

Imaginatik PLC

03 July 2018

 

3 July 2018

Imaginatik plc

("Imaginatik" or "the Company")

Issue of Equity

Imaginatik plc (AIM: IMTK.L), the #1 ranked leader in corporate innovation management according to Forrester Research, is pleased to announce that it has conditionally raised gross proceeds of £250,000 via the placing of 5,000,000 new ordinary shares (the "Placing Shares") with new and existing investors (the "Placing") at a price of 5p per share per share being the closing offer price on 2 July 2018.  The Placing was undertaken by Peterhouse Capital Limited.

The net proceeds of the Placing will be used to provide the Company with additional working capital. 

In addition, the Company has carried out a debt for equity swap with certain creditors requiring the issue of 1,079,340 new ordinary shares (the "Debt Shares").

Application for Admission

Application will be made for the Placing and Debt Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM ("Admission").  It is anticipated that Admission will become effective at 8.00 a.m. on 9 July 2018.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise 32,998,711 Ordinary Shares.  The Company does not hold any shares in treasury.  Therefore, the total number of Ordinary Shares with voting rights will be 32,998,711 This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Market soundings, as defined in the Market Abuse Regulation ("MAR"), were taken in respect of the Placing with the result that certain persons became aware of inside information, as permitted by MAR.  That inside information is set out in this announcement and has been disclosed as soon as possible in accordance with paragraph 7 of article 17 of MAR.  Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.

For further information please contact:  

Imaginatik plc	Tel: [phone]
Shawn Taylor, CFO
finnCap Ltd - Nomad and broker	Tel: [phone]
Jonny Franklin-Adams/Max Bullen-Smith, corporate finance
Camille Gochez, corporate broking
Peterhouse Capital Limited - Joint broker	Tel: [phone]
Duncan Vasey / Lucy Williams
Alma PR	Tel: [phone]
Caroline Forde / Robyn Fisher

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 Exxon Mobil, Altria, Shell, Goodyear, the Yorkshire Building Society, Caterpillar, AECOM, Novartis 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. In 2016 Forrester Research found that "Imaginatik has the most comprehensive innovation management solution," providing excellent industry recognition of Imaginatik's full-service innovation offering, combining both technology and consultancy services.

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

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