Completion of Acquisition

About this update from Accesso Technology Group Plc

RNS Number : 3781Y Accesso Technology Group PLC 28 November 2014     28 November 2014     accesso Technology Group plc ("accesso" or the "Group") Completion of Acquisition accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider to the global attractions and leisure industry, is pleased to announce that, further to the Group's announcement on 10 November 2014, it has completed the acquisition of VisionOne ("VisionOne") (the "Acquisition"), a leading, customisable cloud based Software-as-a-Service ("SaaS") ticket sales and distribution solution for the operators throughout North and South America. Pursuant to working capital adjustments at completion, including an additional c.$2.7m of cash in the business at closing, the total consideration has increased to approximately $35.0m (initially US$33.0m). As a consequence of these adjustments, the stock consideration in respect of the acquisition will be increased accordingly and the Group will now issue a total of 1,519,364 New Ordinary Shares ("Stock Consideration"), representing 6.93% of the enlarged issued share capital. An application will be made for the admission of 1,519,364 New Ordinary Shares, being the Stock Consideration, to trading on AIM ("Admission"). It is expected that Admission will become effective on 4 December 2014 and the New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue. Immediately following Admission, accesso will have 21,909,819 ordinary shares in issue. This figure 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 Group under the FCA's Disclosure and Transparency Rules. VisionOne operates across North and South America. It owns and operates ShoWare™: an online ticketing sales and ticket distribution solution for the operators of attraction, event and entertainment venues: particularly those venues where assigned seating is a key component of the visitor experience. The ShoWare™ solution offers such venue operators the ability to run, manage, and retain a greater proportion of revenue from ticket sales to their events than would otherwise be the case by manual means or by traditional outsourcing methods. ShoWare™ provides operators with a fully customisable,...

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