Business
Fundraising
Fundraising.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n \nRNS Number : 1980Z Imaginatik PLC 25 May 2016 \n\nImaginatik plc\n(\"Imaginatik\" or \"the Company\")\nProposed Placing and Open Offer to raise up to £2.1m\nFollowing the Company's announcement on 17 May 2016, the Company is pleased to confirm that it proposes to raise up to approximately £2.1 million by way of a Placing and Open Offer (the \"Fundraising\"). The Open Offer of up to £0.53 million will allow the Company's existing Shareholders the opportunity to participate in the Fundraising.\nHighlights\n· Proposed Fundraising of up to c. £2.1 million by the issue of New Ordinary Shares at 2.5 pence per Ordinary Share\n \n· Fundraising to be by way of a Placing of 63,263,520 New Ordinary Shares (c. £1.6 million) and an Open Offer of up to 21,277,896 New Ordinary Shares (c. £0.53 million)\n \n· Open Offer on basis of 1 Open Offer Share for every 4 Existing Ordinary Shares held\n \n· Proceeds of the Fundraising to be used to strengthen the Company's balance sheet and fund business development investment costs and sales and consulting capacity as the Company continues to drive revenue growth\nMatt Cooper, Non-Executive Chairman of Imaginatik, commented: \n\"We have been delighted by the support shown by new and existing investors. These funds will enable Imaginatik to capitalise on the growth achieved in the last financial year and the underlying progress within the business. We have built a strong offering and are now recognised as leaders in the growing international innovation industry. We have outstanding reference customers spanning two major markets: the US and Europe, and believe Imaginatik now has the platform for success.\"\nThe Placing is subject to the Placing Agreement becoming unconditional in all respects. The Placing Agreement is conditional on the passing of, inter alia, Resolutions at a General Meeting of the Company to be held on 13 June 2016 and the Admission to trading on AIM of all the New Ordinary Shares to be issued in connection with the Placing.\nA circular (the \"Circular\") setting out details of the proposed Fundraising and giving notice of an General Meeting to approve these proposals will be sent to Shareholders tomorrow and will be available on the Company's...