Access Intelligence PLC Conversion of Loan Notes (5139A)
29 December 2017 - 6:00PM
UK Regulatory
TIDMACC
RNS Number : 5139A
Access Intelligence PLC
29 December 2017
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 ("MAR"). With the publication of this announcement,
this information is now considered to be in the public domain.
29 December 2017
ACCESS INTELLIGENCE PLC
("Access Intelligence", "the Company" or "the Group")
Conversion of Loan Notes
Access Intelligence plc (AIM: ACC), a leading supplier of
Software-as-a-Service (SaaS) solutions for communications and
reputation management, is pleased to announce that both the holders
of the GBP1.25 million nominal unsecured convertible redeemable
loan notes issued on 30 June 2009 (as subsequently varied) ("the
2009 CLNs") and all the holders of the GBP1.1 million nominal five
year unsecured convertible redeemable loan notes issued on 8
December 2014 ("the 2014 CLNs") have delivered conversion notices
to the Company effective yesterday.
The 2009 CLNs will convert into 31,250,000 new Ordinary Shares
at a conversion price of 4p per share in accordance with the terms
of the 2009 CLNs. Application has been made for 31,250,000 new
Ordinary Shares to be admitted to trading on the AIM market of the
London Stock Exchange and dealings are expected to commence on 3
January 2018 ("First Admission").
The 2014 CLNs will convert into 36,666,665 new Ordinary Shares
at a conversion price of 3p per share in accordance with the terms
of the 2009 CLNs. Under the terms of the 2014 CLNs the holders are
required to give 30 days' notice of conversion. Accordingly, the
conversion of the 2014 CLNs will take effect on 29 January 2018.
Application will be made for 36,666,665 new Ordinary Shares to be
admitted to trading on the AIM market of the London Stock Exchange
and dealings are expected to commence on 29 January 2018 ("Second
Admission").
Access Intelligence CEO Joanna Arnold said "We are delighted
that all the Loan Note holders have converted their holdings of
Loan Notes in to Ordinary Shares. This demonstrates strong support
from the Company's largest shareholders, improves our balance sheet
and removes a significant interest burden from the Company.
The Group has had a strong finish to the financial year with our
Vuelio business in November delivering its best monthly performance
of the year in terms of net annual contract value growth. We are
extremely proud of everything the Group has achieved in 2017, and
even more excited about the prospects for 2018. With our commercial
momentum and an innovative product development pipeline, we look
forward to continued strong growth and accelerated expansion next
year."
Total Voting Rights
With effect from First Admission, the Company's issued share
capital will comprise of 379,924,357 ordinary shares, with one
voting right per share ("Ordinary Shares"). The Company holds
29,666,667 Ordinary Shares in treasury and therefore the total
number of Ordinary Shares with voting rights in the Company will be
350,257,690. Upon First Admission, the figure of 350,257,690 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, the share capital of
the Company under the FCA's Disclosure Guidance and Transparency
Rules.
With effect from Second Admission, the Company's issued share
capital will comprise of 416,591,022 Ordinary Shares. The Company
holds 29,666,667 Ordinary Shares in treasury and therefore the
total number of Ordinary Shares with voting rights in the Company
will be 386,924,355. Upon Second Admission, the figure of
386,924,355 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, the
share capital of the Company under the FCA's Disclosure Guidance
and Transparency Rules.
For further information:
Access Intelligence plc 0843 659 2940
Michael Jackson (Non-Executive Chairman)
Joanna Arnold (CEO)
Allenby Capital Limited (Nominated Adviser and Broker)
David Worlidge / James Thomas 020 3328 5656
This information is provided by RNS
The company news service from the London Stock Exchange
END
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