Issue of equity on conversion

RNS Number : 7836R

Access Intelligence PLC

31 August 2010

 



ACCESS INTELLIGENCE PLC

("Access Intelligence" or "the Group")

(Innovative Software-as-Service Solutions)

Issue of equity on conversion of Loan Notes

Access Intelligence announced on 10 July 2009 that it had entered into Convertible Loan Agreements in respect of £1.85 million ("Loan Notes").

Pursuant to the terms of the Loans, the Company has now received a notice from a Loan Note holder, SF t1ps Smaller Companies Growth Fund, that it wishes to convert £100,000 of Loan Notes into ordinary shares of the Company ("Ordinary Shares") at the conversion price of 4p per new Ordinary Share.

The Board have therefore allotted and issued 2,500,000 Ordinary Shares in satisfaction of this conversion of Loan Notes.

The new shares are expected to be admitted to trading on AIM on 1 September 2010.

Following the issue of the 2,500,000 new Ordinary Shares the Company's capital will consist of 257,270,696 ordinary shares with voting rights.

Access Intelligence plc does not hold any ordinary shares in Treasury, therefore the total number of voting rights in Access Intelligence will be 257,270,696.

This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Access Intelligence plc under the FSA's Disclosure and Transparency Rules.

For further information:

Access Intelligence plc
Jeremy Hamer (Finance Director)	07977 234 614
Astaire Securities Plc
Shane Gallwey	020 7492 4750
Cubitt Consulting	020 7367 5100
Chris Lane / Nicola Krafft

 

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