19th Dec 2008 15:16
Imaginatik Plc (the "Company")
Non-executive Director Letters of Appointment
19 December 2008
Further to the announcement made by the Company on 24 June 2008, under the terms of the non-executive directors' letter of appointment dated 11 December 2006 in respect of Mr Howard Marshall and Mr Paul Morland (the "Non-Executive Directors"), it was agreed that the Non-Executive Directors would receive new Ordinary shares of 0.0625p in the Company in respect of each subsequent six month period following the end of the initial 12 month term to the value of £15,000 in the case of Mr Marshall and £12,500 in the case of Mr Morland.
These Ordinary Shares were to be issued at the average mid market closing price of an Ordinary Share as derived from the London Stock Exchange's Daily Official List for the last five days of such period and within 20 business days of the expiry of the relevant period.
Consequently, at an average price of 2.125p being the average price of an Ordinary Share in Imaginatik over the five dealing days prior to and including 10 December 2008 being 4 December 2008 to 10 December 2008, a total of 1,294,118 new Ordinary Shares have today been issued. 705,882 Ordinary Shares have been issued to Mr Marshall and 588,235 Ordinary Shares to Mr Morland. The shareholdings of the Non-Executive Directors before, and after, this issue of Ordinary Shares are as follows:
|
Non-Executive Director |
Number of Ordinary Shares held prior to Non-Executive share issue |
% of issued share capital |
Number of Ordinary Shares held following Non-Executive share issue |
% of issued share capital as at 22 December 2008 |
|
Howard Marshall |
1,674,123 |
1.33 |
2,380,005 |
1.79 |
|
Paul Morland |
824,563 |
0.66 |
1,412,798 |
1.06 |
Application for admission of 1,294,118 new Ordinary Shares ("Admission") has been made and is expected to occur on 29 December 2008.
Following Admission, the Company will have 132,671,917 Ordinary Shares in issue.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.
Enquiries:
Imaginatik Plc
Shawn Taylor, CFO
0207 917 2975
www.imaginatik.com
W.H. Ireland
Katy Birkin
0121 265 6330
Investor relations and UK media
ICIS
Tom Moriarty/Caroline Evans-Jones
0207 651 8688
Related Shares:
ABAL.L