Business
Board Changes & Subscription
Board Changes & Subscription.
About this update from Pulsar Group Plc
[{"type":"text","content":"\n RNS Number : 1315E Access Intelligence PLC 24 September 2008 \n \nFOR RELEASE \n7AM\n24 SEPTEMBER 2008\n\nACCESS INTELLIGENCE PLC\n('Access Intelligence plc' or 'the Group')\n(Software and computer services business)\n\nProposed Board Changes and Subscription \n\nTrading Update\n\nHighlights\n\n\n\nAppointment of Michael Jackson as Executive Chairman and David Lowe as Non-executive Director\n\n\nSubscription by, inter alia, Michael Jackson (former Chairman of Sage Group and Chairman of Elderstreet Investments Ltd) for 46 million new ordinary shares at 2.75p per share to raise £1.265 million before expenses \n\n\nAlthough the board is expecting a strong performance in the fourth quarter, it does not expect to meet current market expectations\n\n\nContinuing discussions with various parties regarding the disposal of non-core operations\n\n\nRe-focus of the Group on Software as a Service and significant cost reduction program being implemented\n\n\nJeremy Hamer, the Chairman, commented:\n\n'The board changes, a stronger Balance Sheet, a reducing cost base and momentum at Due North are all tangible signs of significant progress which we anticipate will enable the Group to make a positive start to the next financial year and provide a solid platform to develop the business into the software services sector.'\n\nFor further information:\n\n\n\n\n\n\nAccess Intelligence plc\n\n\n01904 520 840\n\n\n\n\nJeremy Hamer (Non Executive Chairman)\n\n\n07977 234614\n\n\n\n\nColin Davies (Finance Director)\n\n\n01904 520 840\n\n\n\n\nBlue Oar Securities \n\n\n020 7448 4400\n\n\n\n\nShane Gallwey / Matt Marchant\n\n\n \n\n\n\n\nCubitt Consulting\n\n\n020 7367 5100\n\n\n\n\nBrian Coleman-Smith / James Verstringhe / Nicola Krafft\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\n \n Background Note\n\nAccess Intelligence is based in York with subsidiaries in York, Stockport, Greater Manchester, Chorley, Lancashire and Newcastle upon Tyne. Following a strategic review the Group intends to concentrate on providing Software as a Service through its two key subsidiaries, MS2M and Due North. (A full background note is included at the end of this announcement).\n ...