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
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.