Result of accelerated bookbuild

13th July 2017 | accesso Technology Group Plc

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.

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