Imaginatik plc (AIM: IMTK.L) updates shareholders on the present situation.
Since the Company’s announcement on 4 June 2018, the Company’s financial performance has improved. This is as a result of the steps taken to reduce costs and since the start of June customers renewing their contracts, combined with new customer wins
The sales pipeline has been scrutinised and cleaned. Whilst this has reduced the total value, there is a significant pipeline of qualified prospects for conversion over the next two quarters, sufficient to ensure the Company can trade at budget. In addition, a new marketing programme has commenced, and this is beginning to generate an increasing number of quality leads.
Appointment of New Nominated Adviser
Further to the announcement on 26 September the Company can confirm that it is in negotiations with certain Nominated Advisers with a view to selecting a replacement as soon as possible. Shareholders will be updated as soon as a replacement Nominated Adviser has been appointed.
Several existing and new potential investors have approached the Company since the announcement on 26 September with interest and proposals. Since the management changes at the start of June, the immediate focus of the new team has been for the business to become self-funding as soon as possible and this continues to be the aim.
The directors would like to thank all associated with the Company in this turbulent time and want to reassure shareholders and others that the priorities of the Board are to appoint a new Nominated Adviser to ensure the shares resume trading as soon as possible and that the business performance continues to improve. Further updates will be made as appropriate.