6th Apr 2016 12:34
LONDON (Alliance News) - Imaginatik PLC on Wednesday noted the movement in its share price and said the only reason it knew for the move was press speculation that former Quindell boss Rob Terry was plotting to acquire shares in the business.
The software and consultancy services company noted a report in the Daily Mail which cited rumours suggesting Terry had instructed his brokers to acquire as many shares in Imaginatik as possible for under 2.00 pence.
http://www.thisismoney.co.uk/money/markets/article-3525462/MARKET-REPORT-ousted-Quindell-chief-Rob-Terry-plotting-comeback-AIM-listed-tiddler-Imaginatik.html
Shares in Imaginatik were up 39% to 2.77p on Wednesday afternooon, one of the best performers in the AIM All-Share.
Terry, who founded insurance technology company Quindell, which has now changed its name to Watchstone Group PLC, left the company in November 2014 after becoming embroiled in a share dealings scandal, which involved he and other directors of the company putting some of their shares up as security against a fixed-term loan, some of which was then used to buy more Quindell shares.
By Sam Unsted; [email protected]; @SamUAtAlliance
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