Business
Proposed Share Consolidation and Notice of AGM
Proposed Share Consolidation and Notice of AGM.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n \nRNS Number : 9144M Imaginatik PLC 22 July 2014 \n\n \nImaginatik Plc\n(\"Imaginatik\" or the \"Company\")\n \nProposed Share Consolidation and\nNotice of Annual General Meeting\n \nImaginatik plc (AIM: IMTK.L), the world's first full service innovation provider offering a range of technology products and consultancy, has posted a circular to shareholders containing the notice of annual general meeting (\"AGM\") of the Company (\"Circular\") and which sets out details of a proposed consolidation of the Company's share capital (\"Share Capital Reorganisation\").\n \nUnder the Share Capital Reorganisation it is proposed that every 80 existing ordinary shares of 0.0625 pence each will be consolidated into one new ordinary share of 5 pence each, with any fractional entitlements arising from the Share Capital Reorganisation being aggregated and sold in the market on behalf of the relevant Shareholders.\n \nThe Board believes that the Share Capital Reorganisation will result in a more appropriate number of shares in issue for a company of Imaginatik's size on AIM. The Share Capital Reorganisation may also help to make the Ordinary Shares more attractive to investors and may result in a narrowing of the bid/offer spread, thereby improving liquidity.\n \nThe Share Capital Reorganisation is subject to the approval of shareholders at the AGM which is being held at 12.00 p.m. on 14 August 2014 at the offices of Marriott Harrison LLP, at 11 Staple Inn, London WC1V 7QH. If the resolution is approved, trading in the Capital Reorganisation Shares should begin at 8.00 a.m. on 15 August 2014 with ISIN GB00BP8XY588.\n \nThe Capital Reorganisation Shares will have the same rights and benefits as the Ordinary Shares. Each Shareholder who holds 80 or more Ordinary Shares will be issued with Capital Reorganisation Shares. Such Shareholder's proportionate interest in the Company's issued Ordinary Share capital will remain unchanged as a result of the proposed Share Capital Reorganisation.\nFurther details of the Share Capital Reorganisation are set out in the Circular dated 21 July 2014 which is available on the Company's website at www.imaginatik.com.\n \nThe definitions which apply in the Circular have been used in this announcement.\n \n \nExpected Timetable\n \n\n\n\n\nPublicat...