Sale of Resource Team Limited ("Resource Team")

14 April 2014

The Board of IMAC announces that its investee company, Review Centre Ltd ("Review Centre"), has today sold its 100% owned operating subsidiary, Resource Team, to Glen Collins ("Purchaser"), a director of Review Centre ("Disposal").

The consideration comprises £100,000 in cash ("Consideration") payable to Review Centre on completion.

IMAC has a 71.5 per cent. interest in Review Centre's issued share capital ("Shares") and also holds 93.46% of Review Centre's outstanding loan stock ("Loan Stock"). Review Centre is a consumer-generated review site which was acquired in June 2008 by IMAC in a management buy-in (MBI).

Following completion, Review Centre will then be subsequently wound-up. The Board of IMAC anticipates that on completion of the winding-up, IMAC will receive approximately £600,000 in repayment for its 93.46% interest in Review Centre's Loan Stock.

The net book value of IMAC's investment in Review Centre (comprising the Shares and the Loan Stock) amounted to £1 million as at 30 September 2013, the date of IMAC's last published balance sheet.

For the 11 months ended 28 February 2014, Review Centre's unaudited consolidated EBITDA was £57,019. Review Centre's consolidated net current assets as at the same date amounted to £606,841.

IMAC is a closed-ended, Guernsey-registered investment company which invests predominantly in unquoted media and entertainment companies. IMAC is managed by Ingenious Ventures, the private equity division of investment and advisory group, Ingenious. IMAC's investing policy is to focus on realising its existing portfolio of investments and return where possible the proceeds of any disposals to shareholders.

The Board anticipates distributing the proceeds of the Disposal to Shareholders in due course.

IMAC retains its portfolio investments in Whizz Kid Entertainment Limited, and brandRapport Group.

The Disposal is a Related Party Transaction under the AIM Rules as the Purchaser, Glen Collins, is a director of Review Centre, a 71.5% owned subsidiary of IMAC. The Board of IMAC believe, having consulted with the Company's Nominated Adviser, that the terms of the Disposal are fair and reasonable insofar as all shareholders are concerned.

The Board also announces that it has extended the term of Ingenious Ventures' current investment management agreement by six months to 11 October 2014 on the same terms and conditions.

IMAC

Patrick McKenna/ Duncan Reid

Tel: 020 7319 4000

Beaumont Cornish Limited (Nominated Adviser and Broker)

Michael Cornish

Tel: 020 7628 3396

Powerscourt Group (PR Adviser)

Justin Griffiths & Carmen Murray

Tel: 020 7549 0999 / ingenious@powerscourt-group.com

A copy of this announcement is available on the Company's website at www.imaclimited.com

About IMAC:

IMAC is a closed-ended, Guernsey-registered investment company, which was admitted to AIM in April 2006, raising £150 million. Its investment policy is to invest in an actively-managed portfolio of holdings (typically between £5 million and £25 million in size) in predominantly unquoted media and entertainment companies with an enterprise value of between £10 million and £100 million. IMAC's activities are managed by Ingenious Ventures, the private equity division of Ingenious.

About Ingenious:

Ingenious is a market-leading financial services group providing investment and advisory expertise operating through four divisions. Ingenious is one of the leading investors in the UK's creative industries and was founded by its Chief Executive, Patrick McKenna in 1998.

Ingenious Ventures is the private equity division of Ingenious.

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