Imaginatik PLC Director Loan (4712C)
January 19 2015 - 2:00AM
UK Regulatory
TIDMIMTK
RNS Number : 4712C
Imaginatik PLC
19 January 2015
19 January 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 $250,000 (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 new 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 in
six months' time.
As Matt Cooper is a director of the Company, the Loan
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.
Matt Cooper, Non-Executive Chairman, said:
"The company is making good progress with its biggest ever sales
pipeline of new business opportunities, and I am delighted to be
able to provide short term funding in anticipation of revenues from
contracts that have been slightly delayed beyond their expected
completion in December 2014 and to cover short term delays on
receiving cash on contracted business. The Board looks forward to
giving an update on trading in due course"
For further information please contact:
Imaginatik plc Tel: 01329
243 243
Matt Cooper Non-Executive Chairman
Ralph Welborn, CEO
Shawn Taylor, CFO
finnCap Ltd Tel: 020 7220
0500
Charlotte Stranner / Victoria
Bates
Newgate Threadneedle Tel: 020 7653
9850
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, Pfizer,
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCMMGMMVRGGKZM
Abal (LSE:ABAL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Abal (LSE:ABAL)
Historical Stock Chart
From Jul 2023 to Jul 2024