Imaginatik’s concern at Terry link

A STRUGGLING technology firm that is being targeted by Rob Terry has tried to distance itself from the disgraced Quindell founder.

Terry, who is likely to be interviewed by the Serious Fraud Office as part of its probe into accounting at Quindell under his tenure, has built up a 14pc stake in Imaginatik, which is listed on the junior AIM market.

But Imaginatik’s chairman yesterday tried to put clear water between it and Terry.

Matt Cooper, who owns 27pc of its shares, said: ‘We don’t really have a relationship with Rob Terry, despite suggestions in his tweets that we do.’

Terry, who uses social media platform Twitter to keep in touch with his enthusiastic followers, has trumpeted his links to the firm.

But despite an audience with him this year, it is understood there is increasing nervousness at Imaginatik at being associated with the former Quindell boss who was ousted after selling shares while sitting on price-sensitive information. There is now speculation that Terry is looking for a new stock market company to use as a vehicle in order to fund new ventures.

He already has a 9.99pc stake in stockbroker Daniel Stewart, an adviser to Imaginatik (down 0.25p at 6.63p).

Cooper voiced concern at the firm’s annual meeting this week that Terry had ‘ulterior motives’ and wanted ‘to use this [company] as a shell’.

In a recent article, Terry said: ‘In our discussions with Imaginatik, it has been made clear that they do not currently want to raise additional cash, despite our willingness to provide it.’