Readers will remember that last week I broke the story about how AIM-listed tiddler Imaginatik was plotting a £2 million fundraising via a placing and open offer.
Investors, though, have been wondering whether Terry - who has built up a near 10pc stake via his Quob Park Estate holding company - would be willing to back the placing after QPE tweeted last week that it is wasn't involved "for now". Here is the tweet:
Quob Park Estate @QuobPark
Looks like $IMTK.L fundraise pushing ahead without QPE being involved for now - a big mistake in our view as key issues will not be fixed
City sources reiterated today that Terry won't sign up to the fundraising unless the software consulting company fundamentally changes strategy.
It's thought Quob Park Estate will unveil a detailed release outlining the reasons why it didn't participate in the Imaginatik fundraising once it is completed.
Quob Park Estate and Imaginatik declined to comment.
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