Business
Placing
Placing.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n RNS Number : 1293X Imaginatik PLC 10 August 2009 \n \n10 August 2009\n\n\nImaginatik plc\n('Imaginatik' or the 'Company')\n\nPlacing to raise approximately £1.576 million\n\nImaginatik plc (AIM: IMTK), a leading provider of enterprise collaborative software and processes, announces that it has conditionally raised approximately £1.576 million through a placing of 26,266,666 new ordinary shares of 0.0625p each (the 'Placing Shares') at a price of 6 pence per share (the 'Placing'). The Company intends that the net proceeds of the Placing will be used to provide the Company with the resources to pursue its growth plans and for general working capital purposes.\n\nThe Placing Shares have been conditionally placed by Arbuthnot Securities Limited ('Arbuthnot') with institutional and other investors. Application will be made to London Stock Exchange plc for the Placing Shares to be admitted to trading on AIM. Subject, inter alia, to admission of the Placing Shares to AIM becoming effective, dealings in the Placing Shares are expected to commence on AIM at 8.00 a.m. on 13 August 2009. The Placing Shares represent approximately 20 per cent. of the Company's existing issued share capital and will, when issued, represent approximately 16.5 per cent. of the Company's enlarged share capital. Following Admission, the Company will have 159,186,376 Ordinary Shares in issue.\n\nPursuant to the terms of the placing agreement, Arbuthnot, as agent for Imaginatik, has agreed to use its reasonable endeavours to place the Placing Shares with investors procured by it. The Placing is not underwritten. The Placing Price of 6 pence per Placing Share represents a discount of approximately 4 per cent. to the closing mid-market price of 6.25 pence per ordinary share on 7 August 2009, being the last dealing day prior to the date of this announcement.\n\nThe issue of the Placing Shares is conditional, amongst other things, on:\n(i) admission to trading on AIM of the Placing Shares; and\n(ii) the Placing Agreement not being terminated prior to Admission.\n\nThe...