6th Apr 2016 09:02
LONDON (Alliance News) - Accesso Technology Group PLC said Wednesday some of its directors and other shareholders have sold 2.0 million shares in the company to institutional investors in an accelerated bookbuild, after having announced the secondary block placing on Tuesday afternoon.
The company, which provides ticketing and queue-management technology to leisure and entertainment industry clients, said the 2.0 million shares represent a 8.9% stake in the business and were placed at 950.00 pence per share.
Shares in Accesso were down 1.5% at 968.75 pence on Wednesday.
Accesso said its Chief Executive Officer Tom Burnet sold 426,909 shares in the company, leaving him with a 1.9% stake.
Chief Operating Officer Steve Brown sold 500,000 shares, and now holds a 2.9% stake.
Founding Director Leonard Sim sold 800,000 shares, meaning he holds a 5.6% stake.
Chief Financial Officer John Alder has exercised options that gave him the right to buy 100,000 shares in total, 40,000 at 57.50 pence per share and 60,000 at 156.0p, Accesso said. Alder then sold the shares as part of the placing, in a move which left him with 6,612 shares in the company.
The company had noted on Tuesday that "other shareholders", who were unnamed, exercised options over 30,400 shares and then sold 152,842 shares including those bought under the option deal.
Burnet, Alder, Brown and Sim have agreed that, without the prior written consent of joint bookrunners Canaccord Genuity Ltd and Numis Securities Ltd, they will not sell further shares in Accesso for a year from Wednesday.
By Hannah Boland; [email protected]; @Hannaheboland
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