News blog

Imaginatik

• BY: Andrew Hore |
• POSTED: 16/04/2013 |

Innovation software and consultancy provider Imaginatik has decided to stay on Aim.

At the beginning of February, Imaginatik said that it was considering leaving Aim because it was difficult to raise additional cash and there was a lack of liquidity. At the same time the company said that “both revenues and operating losses are likely to be below market expectations”. Three existing customers, that were expected to generate fees of £350,000 in the year to March 2013, have decided to save money and not renew their contracts.

The management has held talks with its main institutional investors and their support has persuaded Imaginatik to stay. Talks continue about the funding of the business.

The positive news led to a 0.1p jump in the share price to 0.25p, which values Imaginatik at £2.12m. The share price is still slightly lower than prior to the talk of leaving Aim. Most companies take a while to get back to their previous share price when they draw back from leaving Aim.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2013_43.pdf