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Imaginatik
- BY: Andrew Hore |
- POSTED: 15/11/2010 |
Imaginatik founder Mark Turrell is trying to get back on the collaborative software company’s board.
Turrell has requisitioned a general meeting in order to remove chairman Matt Cooper and finance director Shawn Taylor from the Imaginatik board and have himself reappointed. Turrell owns 35% of Imaginatik.
Imaginatik is checking the validity of the requisition and the company says that even if the votes are put to shareholders it is confident that they will be defeated.
Pfizer, a major shareholder and customer, has renewed its contract with Imaginatik at an increased annual fee.
At 2.12p a share, Imaginatik is valued at £4.52m. The share price has fallen by three-quarters in the past year.
In September, Imaginatik raised £800,000 from a placing at 1.5p a share. That had the effect of diluting Turrell’s stake from 48.25% to 35%.
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