Business
Strategic review including formal sale process
Strategic review including formal sale process.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n \nRNS Number : 5428D Imaginatik PLC 01 February 2018 \n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\nFOR IMMEDIATE RELEASE\n1 February 2018\nImaginatik PLC (\"Imaginatik\" or the \"Company\")\nStrategic review including formal sale process under the Takeover Code\nThe Board of Imaginatik announces today that it has decided to conduct a review of the various strategic options open to it, one of which is a sale of the Company. The Board has appointed RSM & Co (UK) Limited (\"RSM\") as financial adviser to assist it with this review. \nImaginatik is recognised globally, by industry experts and clients, as providing a leading full-service innovation offering, combining both technology and consultancy services. The Company delivers innovation results to global blue-chip companies, many of whom sit in the Global 500. \nHowever, the Board believes that the Company's share price does not reflect either the value of the highly scalable platform itself, or the growth prospects available to the Company. Additionally, the Board is mindful that shareholder value may be maximised by a sale of the Company to a larger organisation that can accelerate growth through access to greater resources and an existing network of global clients.\nThe Takeover Panel has agreed that any discussions with third parties may be conducted within the formal sale process framework (as set out in Note 2 of Rule 2.6 of the City Code on Takeovers and Mergers (the \"Takeover Code\")) to enable conversations with parties interested in making a proposal to take place on a confidential basis. The Company is not in receipt of any approaches and is not in discussions with any potential offeror at the time of this announcement. \nParties with a potential interest in making a proposal should contact James Lewis from RSM (details below). \nIt is currently expected that any party interested in participating in the formal sale process will, at the appropriate time, enter into a non-disclosure agreement with Imaginatik on terms satisfactory to the Board of Imaginatik. The Company then intends to provide such interested parties with certain information on the business, following which i...