Result of accelerated bookbuild

RNS Number : 9246K

Accesso Technology Group PLC

13 July 2017

 

THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN, IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

13 July 2017

accesso® Technology Group plc

("accesso" or the "Company")

Result of accelerated bookbuild

The Board of accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider to leisure, entertainment and cultural markets, is pleased to announce the result of the accelerated bookbuild announced on 12 July 2017.

Subject to, inter alia, the Placing Agreement, becoming unconditional in all respects, in aggregate 3,631,342 new ordinary shares of £0.01 in the Company ("New Ordinary Shares") are to be issued pursuant to the vendor and cash placing ("Placing Shares"), at a placing price of 1,620 pence per New Ordinary Share ("Placing Price"), raising gross proceeds of approximately £58.8 million ($75.6 million)¹. 3,304,507 New Ordinary Shares are to be issued pursuant to the vendor placing, with 326,835 New Ordinary Shares to be issued pursuant to the cash placing.

The proceeds of the Placing Shares will be used to fund the acquisition consideration for The Experience Engine ("TE2"), to provide working capital, to pay down part of accesso's existing debt and to fund associated transaction costs. The Placing Shares represent 16.2% of accesso's existing outstanding issued share capital. Application for admission of the Placing Shares to trading on AIM will be made in due course and the Placing Shares are expected to commence trading on 20 July 2017 ("Admission"). The Placing is expected to settle on 20 July 2017, subject to Admission.

Canaccord Genuity Limited ("Canaccord Genuity") and Numis Securities Limited ("Numis") (together the "Bookrunners"), acted as joint underwriters and bookrunners to accesso.

Capitalised terms used but not defined in this announcement have the meaning given to those terms in the Company's announcement dated 12 July 2017.

[1] Based on an exchange rate of £0.78:$1.00 as at 11 July 2017.

For further information, please contact:

accesso Technology Group plc	[phone]
Tom Burnet, Executive Chairman
John Alder, Chief Financial Officer
FTI Consulting, LLP	[phone]
Matt Dixon, Adam Davidson
Canaccord Genuity Limited	[phone]
Simon Bridges, Martin Davison, Richard Andrews
Numis Securities Limited	[phone]
Simon Willis, Mark Lander, Tom Ballard

About accesso Technology Group

accesso (AIM: ACSO) is the premier technology solutions provider to leisure, entertainment and cultural markets. Our patented and award-winning technology solutions drive increased revenue for attraction operators while improving the guest experience.

Our solutions add value to operators at every point of the guest experience with our technology facilitating the key points of contact with their many millions of guests.

We drive attendance

The accesso Passport® and accesso ShoWareSM ticketing suites are comprehensive, easy-to-use cloud solutions that process tens of millions of tickets every year for assigned seat and general admission venues, enabling operators to maximize 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 more than 11 million guests have used a patented accesso LoQueueSM solution to queue less, ride more, enjoy a better experience and increase in-attraction spend.

We simplify point-of-sale

Our accesso SiriuswareSM point-of-sale solution offers software modules that combine ticketing, membership, retail, food/beverage transactions, rentals, credit card processing and many other functions into a single system eliminating the need for separate systems and databases.

Attractions and venues worldwide currently employ accesso technology - from theme parks, water parks, cultural attractions, live performance venues and sporting events to ski and snow parks.  We are proud that 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, trust our solutions.

accesso is a public company, listed on AIM: a market operated by the London Stock Exchange. For more information visit: www.accesso.com 

IMPORTANT NOTICE

This announcement does not constitute an offer to sell or issue or a solicitation of an offer to buy or subscribe for Placing Shares [or Consideration Shares] in any jurisdiction including, without limitation, the United States, Canada, the Republic of South Africa, Australia, Japan or any other jurisdiction in which such offer or solicitation is or may be unlawful (each, a "Restricted Jurisdiction"). This announcement and the information contained herein are not for publication or distribution, directly or indirectly, to persons in a Restricted Jurisdiction unless permitted pursuant to an exemption under the relevant local law or regulation in any such jurisdiction. Persons receiving this announcement are required to inform themselves about and to observe any such restrictions.

The securities referred to herein have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will be no public offer of securities in the United States.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

The Bookrunners, which are both authorised and regulated in the United Kingdom by the Financial Conduct Authority, are acting for accesso and for no-one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than accesso for providing the protections afforded to clients of the Bookrunners, or for providing advice in relation to the contents of this announcement or any matters referred to herein. The Bookrunners are not responsible for the contents of this announcement.

Certain statements in this announcement may be forward-looking. Although accesso believes that the expectations reflected in these forward looking statements are reasonable, it can give no assurance or guarantee that these expectations will prove to have been correct. Because these statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by these forward looking statements.

 

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