AGM Statement

RNS Number : 9874H

Accesso Technology Group PLC

27 May 2014

 



27 May 2014                                                   

accesso® Technology Group plc

("accesso" or the "Group")

AGM Statement

accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider to the global attractions and leisure industry will today, at 10:30, hold its Annual General Meeting (the "AGM" or the "Meeting").  At that time the Chairman of the Meeting will provide the following update on trading for the four months ended 30 April 2014:

"We are now operating in our first full twelve months of the Group's new financial calendar, which sees our financial year-end move from 31 October to 31 December.  Whilst only four months of the current financial year have passed, it is customary for me to update shareholders on our current trading progress at the AGM.  All of us on the Board would like that tradition to continue.

I am pleased to report that we have made a confident start to the year.  In the past four months we have secured a promising number of new business wins, particularly in North America, which taken together demonstrate our extended capabilities and geographic reach as a Group. We have set clear strategic priorities for this year and, even at this early stage, have made encouraging progress against several of those.

One of our priorities is to take advantage of the opportunities opened up to us by our latest acquisition, Siriusware. As we reported in our Preliminary Results in March, early evidence of how we can do this is already showing through, illustrated by five agreements signed for a variety of Siriusware Salespoint Solutions with a range of popular US attractions. I look forward to being able to update the market with further wins in due course.  We have also proven our ability to combine Siriusware capabilities with other parts of our offering. During the period we signed a three year agreement with Holiday World & Splashin' Safari to provide the accesso Passport^® eCommerce platform alongside the Siriusware Salespoint Solution already providing a comprehensive point of sale and ecommerce system for the park.

This combined win also speaks to another of our priorities: to deepen and extend our relationships with customers to make them stronger, stickier and cover more parts of the value chain.  We have made progress here in a number of ways.  In March we signed a 3 year Master Services Agreement with Merlin Entertainments plc.  Merlin is the world's second-largest attractions operator, and already deploys our queuing technology across three of their parks. This agreement creates a framework through which Merlin may utilize the accesso Passport® suite of ticketing and e-commerce solutions. The agreement will run for a three-year term and includes a trial installation of the accesso eCommerce Suite at THORPE PARK Resort. 

Our newest solutions also provide another way to deepen our customer relationships. Our installation of Qsmart^SM_, our patented smartphone-based queuing solution at the LEGOLAND Windsor Resort is a good example of this. The agreement not only opens up a new revenue stream, but also extends the terms of our existing Qbot^SM mandate with the park for a further three years.

It is also a priority for us to expand geographically, both in terms of taking particular service lines to markets other parts of our Group already serve, as well as stepping into entirely new markets altogether.  In terms of new markets, Asia is a key focus for us. We remain very excited to have signed a three year Memorandum of Understanding for our first Qsmart installation at The Movie Animation Park Studios in Ipoh, Malaysia. In March we were also able to announce our first ticketing win in Europe, which builds on an existing relationship for our queuing technology. The agreement, which runs for three years with Compagnie des Alpes, will see us provide the accesso Passport eCommerce solution to five parks in Belgium and Holland.

We remain at an early stage of the financial year and there is much still to be done. Nevertheless we are making good progress in important areas of focus, delivering combined wins for queuing and ticketing offerings, deepening our relationships with existing customers, and extending some of our longest-standing relationships further in to the future. With all of that in mind, the Board believes that accesso currently remains well positioned to perform in line with its expectations for the year as a whole."

Long Term Incentive Plan ("LTIP")

Resolution 8 of the AGM seeks approval and adoption of the LTIP, a summary of which is set out in Appendix 1 to the AGM notice.  Having consulted with a number of shareholders, while awards shall normally vest on the third anniversary of the date of grant, the Remuneration Committee intends to introduce a requirement that any awards made would be subject to a holding period following vesting of 6 months, save that if a fiscal event arises on vesting shares could be sold immediately to cover the tax liability only. In addition, the Remuneration Committee will review this holding period in 2015 and on an annual basis thereafter.

For further information, please contact:

accesso Technology Group plc	[phone]
Tom Burnet, Chief Executive Officer
John Alder, Chief Financial Officer
FTI Consulting, LLP	[phone]
Matt Dixon, Lucy Delaney, Jessica Liebmann
Canaccord Genuity Limited	[phone]
Simon Bridges, Cameron Duncan, Brendan Gulston
Numis Securities Limited	[phone]
Etienne Bottari, Simon Willis, Mark Lander

accesso® Technology Group: about us

accesso (AIM: ACSO) is the premier technology solutions provider to the global attractions and leisure industry. Our patented and award-winning solutions drive increased revenue for attraction operators by significantly improving the most important part of an attraction visit: the guest experience.  Our solutions add value to operators at every point in the guest journey:

·      We drive attendance

The accesso Passport^® ticketing suite is a comprehensive, easy-to-use cloud solution that processes many millions of ticket and season passes every year, enabling operators to maximise up-sell and cross-sell with ease to drive greater revenue.

·      We handle payments

Our payment gateway carries level 1 PCI security certification and 24/7 support.  It provides the tools, security and support operators need to drive sales and has so far processed more than $5 billion in transactions.

·      We take guests out of line

Since 2001 over nine million guests have used a patented accesso LoQueue^SM solution to queue less, ride more, enjoy a better experience and increase their in-attraction spend.

·      We simplify point-of-sale

We offer a comprehensive point-of-sale solution through software modules combine ticketing, membership, retail, food/beverage transactions, rentals, credit card processing and many other functions into in a single system eliminating the need for separate systems and databases.

·      We increase engagement

accesso enables operators to engage more deeply and profitably with guests: pre-sale, in-attraction or post-visit.  Our mobile apps have provided more than 2.75 million people with rich iOS and Android content to better plan their visit, buy their ticket on-the-go and unlock new experiences within an attraction. 

Over 400 attractions worldwide currently employ accesso technology - from theme parks, to water parks, cultural attractions and sporting events ski and snow parks.  We are proud that our solutions are trusted by the majority of the leading names in the leisure industry, including Six Flags Entertainment, Cedar Fair Entertainment, Merlin Entertainments, International Speedway Corporation, Palace Entertainment, Compagnie des Alpes, and Herschend Family Entertainment.

accesso is a public company, listed on AIM: a market operated by the London Stock Exchange.

For more information visit www.accesso.com 

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