Further Requisition of Genera

RNS Number : 4050Y

Imaginatik PLC

22 December 2010

 



22 December 2010

Imaginatik plc

("Imaginatik" or the "Company")

Further Requisition of General Meeting

Further to its announcement released on 15 November 2010, Imaginatik plc announces that it has received a second requisition (the "Second Requisition") for a separate General Meeting ("Second GM") of the Company from Mark Turrell who is the holder of ordinary shares of 0.0625 pence in the Company representing more than 35 per cent. of the Company's issued share capital. The Second Requisition requires the directors to convene a Second GM of the Company to consider the following resolutions as ordinary resolutions:

1. THAT, Mr Paul Morland be and is hereby removed from office as a director of the Company with immediate effect.

2. THAT, Mr Andrew Wainwright be and is hereby removed from office as a director of the Company with immediate effect.

3. THAT, Mr Luis Solis be and is hereby removed from office as a director of the Company with immediate effect.

4. THAT, Mr Howard Marshall be and is hereby appointed as a director of the Company with immediate effect.

5. THAT, Mr Robert Levin be and is hereby appointed as a director of the Company with immediate effect.

6. THAT, Mr Sanjay Gupta be and is hereby appointed as a director of the Company with immediate effect.

The Company is taking legal advice as to the contents and validity of the Second Requisition. Furthermore, the Company is confident that if the resolutions set out above are indeed required to be put to shareholders at a Second GM that they will be defeated and, therefore it regards the Second Requisition as another unnecessary distraction and a waste of the Company's resources.

Shareholders should be aware that the proxies received in respect of the requisitioned general meeting of the Company to be held today (22 December 2010) are overwhelmingly against the resolutions to remove Matt Cooper and Shawn Taylor as directors of the Company and the resolution to appoint Mark Turrell as a director of the Company.

For further information please contact:  

Imaginatik plc	Tel: [phone]
Matt Cooper, Chairman / Shawn Taylor, CFO
Arbuthnot Securities Limited	Tel: [phone]
Tom Griffiths
Threadneedle Communications	Tel: [phone]
Caroline Evans-Jones / Hilary Millar

About Imaginatik

Imaginatik provides Innovation and Idea management solutions comprised of consultancy, software (Idea Central) and program management to deliver innovation outcomes to companies such as The Chubb Group of Insurance Companies, Boeing, Pfizer, Goodyear, Paccar, Kellogg 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. This is Imaginatik's area of expertise.

Imaginatik is a public company whose shares are traded on the AIM market of the London Stock Exchange (LSE:IMTK.L) and a World Economic Forum Technology Pioneer with offices in Boston, MA, and London. In 2009, Imaginatik was named as one of the 500 fastest growing technology companies in the EMEA region by Deloitte. For more information visit www.imaginatik.com.

 

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