Board Changes

RNS Number : 9321A

Accesso Technology Group PLC

27 January 2020

 

The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation 596/2014.

 27 January 2020

accesso® Technology Group plc

("accesso" or the "Company")

Board Changes

accesso Technology Group plc (AIM: ASCO), the premier technology solutions provider to leisure, entertainment, hospitality, attractions and cultural markets, is pleased to announce that further to the announcement made on 23 January 2020, Steve Brown has now been appointed as the new Chief Executive Officer and a Director of the Company, with immediate effect.

The Company also confirms that Paul Noland has now resigned as Chief Executive Officer and steps down from his role on the accesso Board concurrently with Steve's appointment.

LTIP Award:

As part of Steve's appointment to the Board of accesso, the Board has agreed to issue up to 582,567 nil cost options over ordinary shares of 1 pence each in the Company ("Ordinary Shares") as a long-term incentive plan ("LTIP") that appropriately incentivises him for delivering growth and shareholder value.

The LTIP will require Steve to remain in employment with the Company at the date of exercise and will be subject to certain financial and operational performance conditions, measured over the period to 31 December 2022. There is no intention to make further awards to him during this period.

Post the LTIP award, Steve holds an interest in the Company of 316,774 Ordinary Shares and 582,567 options over Ordinary Shares.

The information required by Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies in relation to the appointment of Steve Brown (aged 51) is as follows:

Current directorships:

Date Appointed	Company Name	Position
November 2010	Resilient Holdings, LLC	Member
March 2013	Council Properties of Lakeland, LLC	Member
March 2013	SLS Properties of Lakeland, LLC	Member
May 2013	Resilient Properties, LLC	Managing Member
October 2016	Resilient Properties Winter Park, LLC	Managing Member
November 2016	Resilient Restaurants, LLC	Managing Member

Previous directorships:

Tenure	Company Name	Position(s)
December 2012 to April 2018	accesso Technology Group plc	Chief Operating Officer, Chief Executive Officer
March 2017 to November 2018	Ingresso Group Limited	Chief Operating Officer

In 2008, whilst Steve was CEO of Cygnus eTransactions Group, Inc, its board of directors voted to reorganise under Chapter 11 of the US Bankruptcy Code and its assets were subsequently liquidated.

Save as disclosed above, there are no further disclosures required to be made in respect of the appointment of Steve Brown under Schedule 2(g) or Rule 17 of the AIM Rules for Companies.

For further information please contact:

accesso Technology Group plc Bill Russell, Non-Executive Chairman John Alder, Chief Financial Officer Simon Chisholm, Investor Relations		[phone] [phone]
Canaccord Genuity Limited (Nominated Adviser and Joint Broker) Simon Bridges, Richard Andrews		[phone]
Numis Securities Limited (Joint Broker) Simon Willis, Mark Lander		[phone]
FTI Consulting, LLP              Matt Dixon, Adam Davidson, Chris Birt		[phone]

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mr. Steve Brown
2.	Reason for the Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	accesso Technology Group Plc
b)	LEI	213800VY7MXUO7STIN73
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary Shares of 1 pence each
	Identification code	GB0001771426
b)	Nature of the transaction	Award of Options over Ordinary Shares
c)	Price(s) and volume(s)	Exercise Price(s) Volume(s) Nil cost 582,567
d)	Aggregated information: ·Aggregated volume ·Price	See 4c) above
e)	Date of the transaction	27 January 2020
f)	Place of the transaction	Off exchange

 

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