Imaginatik PLC Appointment of CEO (0830U)
10 July 2018 - 4:00PM
UK Regulatory
TIDMIMTK
RNS Number : 0830U
Imaginatik PLC
10 July 2018
Imaginatik PLC
("Imaginatik" or the "Company")
Appointment of CEO
Imaginatik plc (AIM: IMTK.L), the #1 ranked leader in corporate
innovation management according to Forrester Research, today
announces the appointment to the Board of Angus Forrest as CEO,
with immediate effect. Angus is an experienced venture capitalist
and investor.
Angus joins Imaginatik with the remit to place the Company on a
secure financial footing and to restructure the business to
generate growth. He was engaged by the Company last month as a
consultant to review the Company's operations, and he is a key
driver behind the restructuring and refocus of the Company's
operations.
Angus has over 25 years' experience as a venture capitalist and
investor, with a particular focus on the technology sector. In 2000
he co-founded Billam plc, an internet incubator, and in 2013 he
founded Tern plc, with both companies specialising in making and
actively managing technology investments. He has been involved with
the IPOs and reconstructions of several AIM companies, delivering
increased shareholder value.
Simon Charles, Acting Chairman of Imaginatik plc, commented, "We
are delighted to formally welcome Angus to the Imaginatik
management team and Board. He has made significant strides in
improving operations since his initial involvement with the company
started. His understanding of the requirements of a successful
technology public company will be invaluable to us as we seek to
reinvigorate Imaginatik."
Angus Forrest, incoming CEO of Imaginatik plc, commented, "The
initial phase of investigation and a cost-cutting programme to
reduce overheads by more than GBP800,000 pa has been completed. I
have been extremely encouraged by the opportunity for Imaginatik.
The Company has a first-class customer list, a market-leading
offering and a dedicated team of employees. I am looking forward to
working with them to continue to improve the financial performance
and growing Imaginatik, for the benefit of the employees, the
customers and the shareholders."
Angus George Patrick Forrest, 65, currently holds or has held
the following Directorships in the last five years:
Current Directorships Former Directorships (held
within the last 5 years)
Talisman Ventures Limited Alpha Returns plc
*Carrara Administration Limited *Concerto Software ltd
*Carrara (Nominees) Limited FlexiOPS Limited
*Carrara (No 1 Nominees) Limited Larke Investments Limited
*Drumz Limited Millais Management Ltd
*Dunnet (Nominees) Limited *Shidu Capital Ltd
*Dunnet (No 1 Nominees) Limited Tern Plc
*Fearnmore Properties Ltd
*Fearnmore Properties No 1
Ltd
*Hurn Investments Ltd
*Secured Savings Bond Limited
*dormant companies which never traded
In relation to Angus Forrest, he held the following
directorships of businesses which became insolvent whilst he was or
within 12 months of ceasing to be a director.
BMI Electronics Ltd - CVA 1999
Cafe Poppy plc - 1995
Challenger Communications Limited - 1993
Alpha Returns Group plc - CVA 2012
DLM Products Ltd and DLM Professional Services Ltd 2012
Kelways Nurseries Limited - 1993
Logistix Recruitment Ltd - CVA 1990
Medi Info Net Limited - 2003
Waterstone Glassware Limited - 2000
There is no further information to be disclosed in relation to
Angus Forrest and pursuant to paragraph (g) of Schedule Two of the
AIM Rules for Companies.
Angus Forrest is beneficially interested in 3,000,000 ordinary
shares in the Company.
For further information please contact:
Imaginatik plc Tel: 01329 243
243
Shawn Taylor, CFO
Tel: 020 7220 0500
finnCap Ltd - Nomad and broker
Jonny Franklin-Adams/Max Bullen-Smith, corporate
finance
Camille Gochez, corporate broking
Tel: 020 7220 9797
Peterhouse Capital Limited - Joint broker
Duncan Vasey / Lucy Williams
Tel: 020 8004 4218
Alma PR
Caroline Forde / Robyn Fisher
About Imaginatik
Imaginatik is the only innovation solution provider which has
combined a proven innovation program with purpose-built idea
management software to enable companies to achieve breakthrough and
continuous innovation at scale. Imaginatik works with leading
global enterprises to build and integrate innovation management
skills as a core competency. Customers include ExxonMobil, Altria,
Shell, Goodyear, AECOM, Caterpillar, Novartis and Cargill.
Imaginatik is a public company traded on the AIM market of the
London Stock Exchange (LSE: IMTK.L) with offices in Boston, MA, USA
and Fareham, U.K.
For more information visit www.imaginatik.com.
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END
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