This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Prior to publication, certain information contained within this Announcement
was deemed to constitute inside information for the purposes of Article 7 of MAR
Investment into Imaginatik plc
Imaginatik (AIM: IMTK) is a technology company that operates in the corporate innovation solutions software sector. It has 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, TD Bank, Sodexo, Caterpillar, and Cargill.
The Company will immediately invest £160,000 in Imaginatik by (i) subscribing for 14,545,455 new ordinary shares of 0.002p in Imaginatik ("Imaginatik Shares") at a price of
The CLNs have a term of 3 years and an annual coupon of 7.5 per cent., payable quarterly in arrears.
At the Company's election, the CLNs are convertible in whole or in part into Imaginatik Shares at the lower of
Alongside the Investment, the Company will also be granted warrants over Imaginatik Shares (the "Warrants") in respect of the Investment.
The Company shall be granted one Warrant for every two shares issued as part of the Subscription and one Warrant for every two ordinary shares that would arise on conversion of the CLNs. For the avoidance of doubt, the issue of the Warrants is not conditional on conversion of the CLNs. The Warrants have a three-year life and shall be exercisable at the lower of
As part of the Investment, the Company has been granted the right to appoint a director to the board of Imaginatik, subject to customary due diligence being undertaken by Imaginatik's nominated adviser.
The Directors of the Company accept responsibility for the content of this announcement.
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For further information, please contact:
+44 (0) 20 7469 0930
NEX Exchange Corporate Adviser:
+44 (0)20 7469 0930
+44 (0)207 812 0645
This information is provided by RNS, the news service of the