Silicon Valley Bank

RNS Number : 6600S

Access Intelligence PLC

13 March 2023

 

Access Intelligence plc

("Access Intelligence" or the "Company")

Silicon Valley Bank

Access Intelligence (AIM: ACC), the technology innovator delivering Software-as-a-Service (SaaS) solutions for the global marketing and communications industries, announces an update in respect of its banking relationship with Silicon Valley Bank ('SVB').

Access Intelligence has noted recent developments in respect of SVB. Whilst SVB has been one of the Company's banking partners in the EMEA & North America region, the Company can confirm that it has minimal exposure on its deposits with less than £0.4m held across a number of SVB accounts in both the UK and the US. At this time, the Company expects that the vast majority of these funds, if not all, will be protected by the UK Financial Services Compensation Scheme or the US Federal Deposit Insurance Corporation, however the exact timing of when these funds might be available to the Company still remains uncertain. SVB is not a banking partner of the Company in the APAC region.

For further information:

Access Intelligence plc  020 3426 4024

Joanna Arnold (CEO) / Mark Fautley (CFO)

finnCap Limited (Nominated Adviser and Broker)                                                                                020 7220 0500

Corporate Finance:

Marc Milmo / Fergus Sullivan   

Corporate Broking:

Alice Lane / Sunila de Silva

 

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