Share Name Share Symbol Market Type Share ISIN Share Description
Acc.Int. LSE:ACC London Ordinary Share GB0033835264 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 5.125p 5.00p 5.25p 5.125p 5.125p 5.125p 50 07:48:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 10.9 -4.0 -1.6 - 14.67

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Date Time Title Posts
17/4/201611:02Access Intelligence - Innovative Compliance Solutions312
09/12/201209:02Access Intelligence Group - Growing up fast1,072
08/2/201218:00company undervalued66
10/3/200606:14Access Intelligence Group - Growing up fast255
29/12/200509:55Access Intelligence - A BUY?26

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DateSubject
26/9/2016
09:20
Access Intelligence Daily Update: Acc.Int. is listed in the Media sector of the London Stock Exchange with ticker ACC. The last closing price for Access Intelligence was 5.13p.
Acc.Int. has a 4 week average price of 5.13p and a 12 week average price of 5.17p.
The 1 year high share price is 5.50p while the 1 year low share price is currently 4.88p.
There are currently 286,268,451 shares in issue and the average daily traded volume is 188,310 shares. The market capitalisation of Acc.Int. is £14,671,258.11.
26/11/2015
10:49
michaelmouse: hTTp://michae1mouse.blogspot.co.uk/2015/11/todays-updates-and-share-purchase.html Kestrel now own over 11%. hTTp://uk.advfn.com/stock-market/london/access-intelligence-ACC/share-news/Access-Intelligence-PLC-Holdings-in-Company/69462034
06/9/2015
09:02
michaelmouse: I wouldn't like to guess exactly what's going on, but as I noted in my blog at the end of May:- hTTp://michae1mouse.blogspot.co.uk/2015/05/intelligent-choices.html "There was a small tick up in the share price on Friday and whilst share sales have left the share price unmoved in recent weeks, a small number of buys quickly moved the price upwards." I may be wrong but there does appear to be a buyer in the background. Michael.
28/8/2015
14:26
michaelmouse: Unfortunate timing in releasing what were very good and encouraging interims on Monday, although the share price hasn't moved one way or the other this week. Alongside the notes in post 279, further highlights included:- "AIMediaComms: The first half of 2015 has seen excellent growth in recurring revenues across all products and sectors, with strong new business wins underpinned by very high client retention rates." Post period end they also acquired certain assets of both Cision UK Limited and Vocus UK Limited. "C&V are leading providers of Integrated Management Solutions ("IMS") in the UK market and currently support in excess of 1,500 SaaS customers on predominantly annual contracts across a wide range of industries. The Acquisition will provide Access Intelligence with a comprehensive database of global media contacts, including detailed information about new influencers in emerging digital media channels, transforming the proposition of Access Intelligence subsidiary AIMediaComms Limited ("AIMC") and creating an unrivalled portfolio of communications software and services for the UK IMS market." "Due North: Due North continued to focus its efforts within the public sector with key new market wins in central government and education. The launch of the new product has been widely received by its enviable customer base who are currently in user acceptance testing and will migrate over the course of the second half of 2015. Feedback has been particularly strong around the improved user experience, rich functionality and reporting capabilities to assist them increase efficiencies at every level of local government." "AITrackRecord: One month after launch (of it's new product), it secured its first FTSE 100 financial services client following a comprehensive analysis of competitors. Whilst increasing its momentum in its core market of financial services, new opportunities are beginning to arise in areas such as manufacturing, oil and gas and logistics due to the capability of the new platform. AITrackRecord looks forward to capitalising on the early success of the platform and growing pipeline in 2016." "AIControlPoint: Diversification of market verticals has proven essential in 2015 given the downturn in the hydrocarbon industry and AIControlPoint has done well to land key new business with a major group of airports, as well as expanding its footprint within the airline and tour ops industries. The new product is expected to launch in the second half of 2015 and will provide a flexible and powerful solution, which will provide the Product Team with the agility to react quickly to what is an ever-evolving marketplace." Well worth casting your eye over the full report in case you missed it on Monday. Michael.
30/7/2015
21:29
hydrus: I don't disagree Michael. I can see the recurring revenues and reduction in R and D creating profits that would put this on a competitive rating. That might result in a reasonable uplift in the share price. However, in order to achieve a very good return for shareholders, ACC will need to grow the topline significantly and demonstrate their new upgraded products are selling well. Personally I'm only interested in the prospects of a very good return so will be watching here for signs of progress. They are at a critical point, clearly.
29/5/2015
09:29
longshanks: Thanks for that Michael - and all your other research.I bought in yesterday (managed to steal a few which were available at the bid price).I have to concur with you.Looks to me like they have now completed what has been a fairly long process of repackaging all their products. Investment requirements should now reduce substantially and cash flow and EBITDA should be in for a sustained upward trajectory.The management seem astute too - and focussed on what makes "shareholder value". I wouldn't be surprised if we see a trade sale of the business for a good multiple of the current share price within the next year or so because of the VCT involvement.The proposed acquisition doesn't look a natural fit to me. It is SaaS but it doesn't seem to fit with the Governance niche they have carved. Does it to you?
16/7/2014
09:08
davydoo: I don't hold these but some of the comments are laughable. 'to offset reduced professional services revenues due to staff being deployed on internal development projects' Professional Services are sold (I used to sell them). Usually staff are deployed on internal projects as a result of no sales, rather than no sales because staff are deployed on internal projects. 'Cash balance as at 31 May 2014 £1.1m (H1 2013: £2.3m) reflecting sustained development spend in the half year' So at this burn rate will there be any cash left at year end? 'Access Intelligence continues to drive long term shareholder...value' So with no more dividends the share price is up then?...umm...no... 'the platform and scalability to continue to expand our reputation and position' great, what about sales and profits though?
04/10/2013
10:25
wolansm: Ghf have bought a few more, not interested in idea.....why do I buy, A they paid divis B Jackson is decent, I say this from experiance with other companies he is involved with C the missed target is growth, there was still some but they missed the target. D I think Jackson will target that E share price is low so upside and of course downside is there, F ....E = volatility so 20% fluctuations will occur if that happens positively I will sell G why will I sell .... I have been here years and happy to trade a few back and forth, holding the bulk PS today's buy is very modest £1000. Best of luck mate
13/8/2010
11:30
howdlep: For people new to this bb, here is a review of recent news stories:- http://www.cambridge-news.co.uk/Business/Michael-Jackson-will-take-Access-to-zenith.htm Published: 10/08/2010 10:20 - Updated: 10/08/2010 10:23 Michael Jackson will take Access to zenith Martin Flitton When it comes to seeking out a potential growth stock, there are a number of fundamental points that need to be met for the right criteria. Not only does there have to be a proven and experienced person at the helm, the business prospects need to be sound, too, along with the balance sheet. While many fledgling stocks fall at the first hurdle, Access Intelligence may have what it takes to make the grade. At just 4.5p per share and a market cap of a paltry £10m, Access is attractive for several reasons. Not least, it is headed by former Sage Software chairman Michael Jackson who, via his own venture capital vehicle Elderstreet, took a sizeable stake two years back. The strategy has been, and remains, to build a significant software business for compliance. This takes clients on board in the pharma and biotech sector, along with financial services, business security and media. And, boasting a sound balance sheet, Access, in Michael Jackson's hands, is making sound progress with the potential to become something of a growth star. With a complement of six businesses now under the umbrella, sales have been steadily rising to last year's £6m, which delivered a pre-tax profit of half a million pounds. While that may not have buyers stampeding for the shares, it does suggest there is a potential and the firm has already delivered a pre-tax profit for the first half of 2010 of £470k. With many of its services tailor-made to enable clients to meet strict industry regulation, Access has already carved out a decent mix of public and priva te business; and while it supplies the NHS, Metropolitan Police and local government, it has reassured investors as it expects Government spending cuts to have little negative effect. In fact, Access' recurring revenues have been increasing strongly in the last couple of years, despite the recession, and now make up 57% of all business. With £2.4m in cash on the balance sheet, the company earlier this year shelled out £3m as part of a £5m acquisition of Cobent. This should make an excellent fit, enabling Access to further penetrate the North American market where Cobent serves a number of clients. Although Access is currently a relatively niche operator, Michael Jackson appears to be making all the right moves. Although Access may not go on to emulate Sage, I wouldn't bet against it and at 4.5p each the shares are worth a punt. 9 August 2010 Extract from The SF T1PS Smaler Companies Growth Fund Newsletter for August, confirming that the fund have been buying ACC stock again:- So how do we alter our strategy as we enter a new cycle of the market? Well we do not. As you know, our approach to investment never changes. We look to buy shares in good companies when the values are incredibly appealing and then wait. That can lead to short term underperformance as we do not claim to be able to spot the bottom in terms of sentiment. Anyone who makes that claim is, in our view, either a fool or a liar or a chartist or any combination of the above. So we have bought into value and now wait. When we have spare cash to invest we add to one of our existing holdings where we see the greatest untapped value and carry on waiting. So in recent weeks your fund has bought more Avisen (ex cash PE of 1) in a greedy way and has nibbled at ILX, Intandem, Northern Petroleum, Access Intelligence and one we cannot mention yet. 9 August 2010 T1PS members should read the weekend editorial, as that provides an indication of what may be about to follow re price sensitive news. This is of course follows on from the editorial of 1 August, which listed the top 14 buys in London. ACC was included in that list, and the article may be on free circulation very soon. 6 August 2010 The current Shares Magazine explains how investing in penny shares is risky but when you get them right you can easily double, treble, quaruple or even make ten times your original stake by netting those elusive 'ten baggers'. This week the Shares team unveils its top ten penny picks. The filter:- Share price 10p or less Market value £20 million or under Spread 20% or lower Of the 228 AIM names upon which we focused our attentions, just 30 had earnings forecasts , even though first impressions told us some of them held out the prospect of healthy profits growth. Out of the 30 with publicly available earnings estimates, 17 are predicted to grow earnings per shares (EPS) this year by more than 30% and a good number of these names are among our ten picks. These include Access Intelligence (ACC), market cap £10.8 million at mid price of 4.3p, with 2010 EPS growth of 48.3%. Spread 11.1%. The microcap's acquisitve growth strategy is overseen by executive chairman Michael Jackson. Jackson's CV includes growing business software giant Sage (SGE) from a company with a market value of £23.8 million when floated he floated it in December 1989 to £2.9 billion when he left in August 2006. A work in progress, Access will focus on compliance software. Current offerings include e-procurement and Financial Services Authority compliance monitoring, as well as a market-leading media relations software product. Most recently the group acquired compliance software specialist Cobent. An internet delivery product, where users pay monthly, ensures low entry costs for users and steady income for Access which has 57% recurring revenues. July's half-yearly announcement saw an 83% rise in earnings per share, to 0.22p, as well as a net cash balance of £2.4 million. Whilst significant growth should come from the acquisition plans, increasing amounts of compliance and regulation should also ensure organic growth. 19 July 2010 Astaire Note dated 19 July:- http://www.accessintelligence.com/downloads/AccessUpdateJuly10.pdf Michael Jackson CNBC Interview dated 19 July 2010:- Michael Jackson, Executive Chairman of Access Intelligence Plc appears on CNBC's 'Strictly Money' segment to discuss the impact of the proposed coalition spending cuts on UK businesses. Driving cost efficiencies through aggregated purchasing software delivered via Software-as-a-Service negates the need for expensive upfront capex in order to drive long-term cost savings. Due North, a subsidiary of Access Intelligence Plc, delivers procurement software into the Public and Private Sectors. http://www.cnbc.com/id/15840232?video=1546961586&play=1 19 July 2010 Jackson eyes acquisitions, may pay dividend payment:- http://proactiveinvestors.co.uk/companies/news/18998/access-intelligence-eyes-acquisitions-may-pay-dividend-18998.html Former Sage boss Michael Jackson's new software venture, Access Intelligence (LON:ACC), is currently looking at two to three potential acquisition opportunities as it continues its expansion in the compliance sector. Jackson told Proactiveinvestors the deals were likely to be in the £2 million to £3 million price range, though one is slightly larger, and could be funded by a mix of paper and cash. "The market is fragmented," the Access chairman said. Proactiveinvestors recommends smartFOCUS' shift to Software as a Service pays dividends Allocate Software looks ideally positioned to benefit from NHS efficiency driveFinancial software specialist StatPro is a British firm to be proud of"I think there is a growing trend towards compliance and we like software services because of its dependable revenue. And there are quite a lot of companies out there we can acquire. There are some good bolt-on opportunities." Access is one of a new breed of companies focusing on the software as a service, or SaaS sector, where programmes are pumped direct to desktops using the latest cloud computing. Its last acquisition, the £5 million purchase of a firm called Cobent, is typical of the strategy under Jackson. Cobent provides material used by the financial services and drugs industry to make sure firms are complying with the latest rules and regulations. Jackson was speaking after the release of interim results, which revealed pre-tax profits grew by around 180 per cent to £470,000. One feature of the figures was the cash generation of Access, which at 150 per cent of EBITDA was very strong. "It is pretty unusual even in the technology sector to be producing cash at that rate," said finance director Jeremy Hamer. "And it's not because we have over-funded the acquisitions. Cash generation qualities are good." Asked if that meant the group could conceivably pay a dividend, Jackson added: "I wouldn't rule that out." One element of concern is the tightening of purse strings in the private sector, although neither Jackson nor Hamer were able to predict the potential impact on Access. "Nobody knows (the extent of the cuts) until the spending review comes out. But we are not currently seeing a massive drop off in demand," Jackson said. "People are being more cautious." However renewal rates in March and April were very strong. And Hamer points out that Access contracts are usually relatively modest at around £15,000 and £30,000, so aren't a major cost to the business, and points out the software usually saves costs for the business or government department that buys the product. While the uplift in profits was driven by acquisitions, the underlying performance was robust. Organic revenues grew by 51 per cent, Jackson said, while pre-tax profits almost doubled on a like-for-like basis. 19 July 2010 A good half yearly report:- http://www.investegate.co.uk/article.aspx?id=201007190700085128P&fe=1 Highlights: Turnover increased by 63% to £4.1m (2009: £2.5m) Profit before taxation generated by continuing operations was £470,000 (2009: £169,000) Basic earnings per share increased 83% to 0.22p (2009: 0.12p) Cash balance at 31 May 2010 of £2.4m (2009: £714,000) Recurring revenue increased 65% to £2.4m (2009: £1.4m), representing 57% of total revenue Appointment of Howard Sears to the Board in March 2010 following acquisition of Cobent Ltd on 28th February 2010 for £5.2m Sale of Wired-Gov in May 2010 for £142,000 Chairman's Statement I am pleased to announce our results for the 6 months ended 31 May 2010 which demonstrate the Group's continued progress and development, both strategically and financially. Our operating profits in the first half exceeded those of the full year last year and we have made two significant steps towards the alignment of our group activities with our strategy. Results Group revenue was up by 63% to £4,137,000 (H1 2009: £2,543,000), and 25% on a like for like basis. The Group's operating profit before acquisition costs and taxation was £668,000 including Cobent and £725,000 excluding Cobent. This compares to an operating profit of £169,000 in 2009, up 295%. The basic earnings per share is 0.22p (H1 2009: 0.12p) up 83%. The Group is not proposing to pay a dividend. The Group had net cash at the end of the period of £2,424,000 (H1 2009: £715,000). Current Trading The tightening of the public sector purse has undoubtedly begun and will increase in severity over the coming months. Despite this we remain cautiously optimistic that our strategy to focus on the cost saving opportunities offered by our software and the low-cost entry that hosted solutions provide will both contribute to future growth and will, to some extent, shield the Group from spending cuts. We are continuing to invest in our private sector sales and marketing and are confident of the Group's prospects, with new customer wins across all subsidiaries.
14/1/2010
16:08
scotty1: Sorry if been posted and a bit long winded but if i put link don't think you'll get it as you have to registar. LCF Research is an independent, investor led investment research resource for private investors Access Intelligence PLC (ACC) Report updated: 12th January 2010 The December 2003 flotation of Access Intelligence was preceded by the placing of shares in a company then named Readymarket. Readymarket, which had raised £850,000, raised £200,000 more at 37p, and issued just under 16 million shares to the vendors of Access Intelligence, giving the latter 55% of the enlarged equity. Access, a mere three-years old, was formed with the object of providing small businesses with practical advice and support. To this end it acquired The Marketing Guild, trading for 15 years, and engaged in provision of subscription based, practical marketing advice. There are 700 subscribers. The following year, 2001, Backup and Running joined the little fold - as its name implies providing disaster recovery software to the same market, and on the same, subscription, model. Six months before being acquired by Readymarket, Wired Gov, with 5,000 customers paying for instant access via its website to press releases from government and public sector organisations, joined the group, sealing off the present portfolio. A worthy intent, a far from "virtual" business - in the twelve months to November 2002 sales were over £500,000 - and the opportunities opened to effective management buttressed now by an open channel to the capital market, made something of an investment case. The inchoate nature of the little enterprise to some extent mitigated aggregate figures which combined static revenues and hefty recent costs, so much so that those sales only resulted in a near £200,000 operating loss. Reporting for the interim period to May 2004, the loss was £125,000 on income of £300,000. There was £130,000 in the bank; but with the constituent activities proceeding well, a monthly profit within the year was expected. But a falling share price elicited a statement to the effect that the board was engaged in seeking material funds in order to pursue acquisitions. Turnover to November 2004 was £543,000 and the pre-tax loss was £341,000. Subscription-based businesses have of course to shoulder the considerable financial burden of sales creation up-front, and luxuriate (one hopes) in the steady flow of revenue thereafter (which costs little to sustain). As inferred, the share price which had been misting up in the stratosphere has descended and now stands at 10.5p. But that values Access Intelligence at £6 million, more than enough you might think. But it is worth fine-tuning that raw information. The first thing to note is that the company got its funds, £3 million in fact at 10p per share, and that those monies account for half of the market capitalisation. But along with the funds came one Jeremy Hamer, as Chairman and shareholder. Businessman Hamer's recent, stock market, credentials are excellent, his having been involved in Glisten, Inter Link Foods, Avingtrans and Napier Brown Foods. An April trading statement told of a first-half 50% revenue increase, and a small surplus being achieved. May saw its subsidiary, Backup and Running, (providing on-line disaster recovery services to small and medium sizes organisations) achieve ABTA Travel Industry Partner status to buttress sales which have increased by 85% in the first five month of the current period over the previous year . ABTA has over 1,700 members. In June, Access bought Ridgeway Technologies, which is engaged in data storage and the host of associated - and sophisticated - services which modern practices breed, but with a growing networks design and consultancy arm, and a hardware and software maintenance business as well. It will be integrated with another subsidiary, Backup and Running. 2004 sales were £2.3 million, and the pre-tax profits of £100,000 were struck after at least £50,000 of non-recurring costs. Recurring revenues on the other hand top £1 million. The cost is £700,000 up front, 500,000 ordinary shares and a net £500,000 in cash. Deferred consideration will be paid on the basis of 5-times the current-year operating profit of Ridgeway over £100,000. A confident AGM statement confirmed current profitability. In July interim figures to May 2005 were tabled showing sales nearing £100,000 ahead of the comparable May 2004 period, and setting goodwill amortisation aside, the magic transition - from red ink to black - was accomplished - just. Another acquisition has just been completed, Due North, a company with a strong foothold in the market of public sector and emergency services' e-tendering requirements, and whose experience gained thereby has enabled a wider e-commerce and e-auction brief to be addressed. Due North cost £1 million in cash and the issue of 4.7 million shares. £600,000 more may be forthcoming to its vendors if, for the year to November 2006, Due North makes an operating profit of more than £350,000, and £750,000 more if the following year the total exceeds £450,000. The additional consideration, if it comes, will be in the form of ordinary shares unless the beneficiaries elect to receive 20% in cash. Due North, which made over £200,000 in the nine months to May 2005 and had £100,000 in cash, has introduced its services to 40% of police authorities, 7% of local authorities and 11% of fire brigades. The intention is that fellow-subsidiary elect, Wired Gov, the online public sector information system, will cooperate closely with it to seek synergistic gains. There will be £650,000 in the bank after completion of the latest exercise. The December pre-close update re the final results to November 2005 reported that the outcome will be in line with market expectations; the two July acquisitions are fully integrated and performing to expectation; net cash at the period end was £600,000; the pipeline of potential acquisitions remains buoyant; and the board looks forward to significant growth in the current year. The final results to November 2005 showed sales of £1.9 million (2004: £543,000) and pre-tax loss of £10,000 (2004: £(381,000)) - the goodwill amortisation charge was £185,000 (2004: £122,000) - the profit before tax and goodwill amortisation of £175,000 comprises profits in H1 of £8,000 and in H2 of £167,000. The company reported that like-for-like sales growth was 45%; at the year end contracted recurring revenue was c£2 million pa. The interim results to May 2006 showed sales of £1.8 million (2005: £391,000), pre-tax profit of £54,000 (2005: £(53,000)) and adjusted EPS of 0.2p (2005: 0.01p). The company reported that its emphasis is on building high margin recurring revenues derived from compliance driven and/or mission critical applications; c. 50% of sales were recurring revenues - annualised recurring revenues at the period end were running at £1.46 million (2005: £1.19 million); in July, Willow Starcom won its third largest order to date, adding £128,000 of annual recurring revenue (not included in the £1.46 million); local authorities which previously ordered e-tendering systems individually are now grouping together to form larger buying portals - once a portal has been built, the authorities buy the appropriate software to tender through the portal - Due North already has the North East Portal (involving 27 authorities) as a customer as well as 23 out of the 27 authorities - in July, it won the tender for the South East Centre of Excellence portal (involving c.70 authorities) - the system is currently being pilot tested by a global NGO in Switzerland - an ERP company has requested to distribute the system on the Continent; the results include additional expenditure of over £80,000 in the areas of expanding sales resource and product development; period end cash was £534,000. In September, agreement was reached to acquire Management Services 2000 Ltd for an initial consideration of £1.95 million, comprising £1.45 million in cash and the balance in shares, together with deferred consideration of up to £2.5 million based on the results for the 2 years to May 2008. £1.5 million of funding is being raised via a placing at 6p per share. Based in York, MS2M develops compliance software for the financial services industry - it charges a license fee and recurring support revenues on a per seat basis, with new contracts typically being for 3 years and renewable thereafter - c.20,000 seats are currently licensed. In the year to May 2005, MS2M achieved sales of £893,000 (2004: £607,000) and operating profit of £299,000 (2004: £104,000) - recurring revenues are currently c.£300,000 pa - the board believes that the increasing compliance requirements both in the UK and the EU will continue to fuel growth. The January 2007 update re the final results to November 2006 reported that they are anticipated to be in line with market expectations; the portal for the South East Centre of Excellence (see 2005/6 interim results) has been delivered and the process of selling systems into the 74 authorities who sponsored the portal has started; a 3 year contract for e-sourcing has been won from West Yorkshire Police Authority, displacing the existing supplier. The final results to November 2006 showed sales of £3.5 million (2005: £1.9 million), adjusted operating profit of £560,000 (2005: £100,000), pre-tax profit of £246,000 (2005: £(26,000)) and adjusted EPS of 0.52p (2005: 0.17p) - the results include goodwill amortisation of £312,000 (2005: £185,000). The company reported that sales included £2.2 million of recurring income; an agreement has been signed with CedarOpenAccounts to market AI's e-Sourcing software suite to Cedar's public sector clients - Cedar is the UK's fastest growing supplier of accounting and related software solutions to the public and private service sector; year end cash was £1.0 million. In April, the collaboration with CedarOpenAccounts (see above para) brought its first joint contract win - University Hospital Leicester has contracted with Due North for its e-sourcing suite of software for use in conjunction with CedarOpenAccounts Health Business Suite to improve the efficient running of the hospital. Due North and CedarOpenAccounts partnership intend to offer the solution to 170 similar trusts in the UK. Later in April, Due North won the 5 year contract to provide its e-sourcing and e-tendering software to North West Centre of Excellence, representing 47 councils in the North West - this is the third win out of the 4 regional centres (there are 9 centres) which have so far gone to tender. Because the contract was opened up to competition throughout the EU and also includes a framework agreement, this means that any public sector body can take advantage of the Due North products without having to go to tender - this represents another potential cost saving for potential customers. The interim results to May 2007 showed sales of £1.7 million (2006: £1.8 million), adjusted operating loss of £118,000 (2006: £190,000 profit), and pre-tax loss of £323,000 (2006: £46,000 profit)) - the results include goodwill amortisation of £209,000 (2006: £146,000). The company reported that Storage suffered from increased competition, to which it is responding by making its e-mail archiving application the lead product; Due North (e-sourcing) increased recurring revenues by 18% - it recently hosted an auction on behalf of a Police force which saved c.£250,000 (50%) of its initial computer hardware budget; MS2M experienced project delays by 2 large financial institutions - new web based services are being developed which are applicable not only to the financial services sector but also to the retail and automotive sectors (they will be faster and less expensive than existing tools in the market); annualised period end recurring revenue was £2.2 million; period end net cash was £693,000; the group has entered H2 with strong pipelines, with the key challenge being conversion of prospects into orders. The 9th October update reported that the MD of MS2M (see September 2006) had purchased 250,000 shares at 4.25p per share, taking his holding to 7,292,775 shares representing a 6.64% interest. The December update re the final results to November 2007 reported that they will fall short of market expectations - this is due to slower than expected initial take up on MS2M's recently launched on-line compliance product - Due North (e-sourcing) won 29 net new customers during the year, including its first UK private sector client and its first overseas contract - Willow Starcom (data storage) had a better H2, with a year end run rate ahead of management expectations - year end cash was £800,000; the board is confident about improved performance in 2007/8. On 6th December, the CEO purchased 210,406 shares at 2p per share. The final results for the year to November 2007 showed sales of £4.1 million (2006: £3.7 million), adjusted operating loss of £5,000 (2006: £560,000 profit) and pre-tax loss of £478,000 (2006: £246,000) - the results include an exceptional charge of £126,000 (2006: £nil) and goodwill amortisation of £355,000 (2006: £312,000). The company reported that the adjusted operating loss comprised a H1 loss of £118,000 and a H2 profit of £113,000, with Willow Starcom underperforming in H1 (see 2006/7 interim results) and MS2M being lossmaking for the year; the key cause of the underperformance at MS2M (FSA compliance solutions) was 2 major customers for which work had been carried out for individual business units deciding that group should become MS2M's customer and should roll out the MS2M solution across each group, but in practice each customer found that for internal reasons this did not work - in each case the customer relationship is reverting to the individual business units; in March 2008, MS2M launched a compliance portal (mysatcom.net) which enables companies in the general insurance and mortgage sectors to risk asses their businesses against FSA compliance requirements by producing a gap report and an action plan for addressing the gaps - this is being launched in conjunction with 11 major product providers to a selection of their intermediaries in order to determine the regulatory risk profile within selected product sectors; Due North (e-sourcing) won a 5 year contract with The States of Jersey and its first 2 private sector contracts (JANET and Ladbrokes) both of which run for 3 years; in 2008, senior sales managers have been appointed to each of Willow Starcom and Due North; year end cash was £872,000. The June update re the interim results to May 2008 reported that they are expected to show sales of c.£1.9 million (2007: £1.7 million), a loss slightly greater than 2006/7's £323,000 and cash of over £500,000; Q2 sales were 20% higher than Q1, reflecting the increased sales resource introduced at the beginning of 2007/8; Due North (e-sourcing software) won the South West Centre of Excellence representing 51 councils, meaning that it has won 4 out of 5 such tenders - its e-sourcing contract for the majority of the UK's police forces has been renewed for 3 year; the sales teams are in discussions with significantly more potential customers than this time last year with total order value potential some 2.4 times greater than at May 2007. The interim results to May 2008 showed sales of £1.9 million (2007: £1.7 million), adjusted pre-tax loss of £167,000 (2007: £(109,000)) and pre-tax loss of £2.8 million (2007: £(109,000)) - the results include an exceptional charge of £2.7 million (2007: £nil). The company reported that the group is being shrunk down to its SaaS businesses, Due North (e-sourcing) and MS2M (compliance), with the remaining 4 businesses expected to be sold as a package for proceeds which (net of expenses) are expected to be c.£1.2 million - the CEO has stepped down - discussions are under way with a senior person from the IT industry re joining the board; the results comprised the continuing businesses with sales of £672,000 (2007: £560,000), gross margin of 88% (2007: 89%) and pre-tax loss of £118,000 (2007: £(88,000)), and discontinuing businesses with sales of £1.3 million (2007: £1.2 million) and adjusted pre-tax loss of £49,000 (2007: £(21,000)); of the continuing businesses, Due North was profitable in H1, achieving 35% sales growth, and growing recurring sales beyond £40,000 per month; MS2M, with recurring sales of £20,000 per month, is refocusing on its core product 'virtual compliance officer', and has cost reductions in train to stem the losses; the discontinuing businesses are expected to trade profitably in H2, thus strengthening the negotiating platform from a selling standpoint; period end cash was £572,000. The September update reported that, subject to shareholder approval, Michael Jackson (the former chairman of Sage Group) is to become executive chairman, with him and associated parties subscribing £1.3 million at 2.75p per share in exchange for shares representing 29.52% of the enlarged share capital; although the board is expecting a strong performance in Q4, it does not expect to meet current market expectations - a cost reduction programme has been implemented which is expected to produce annualised savings of £400,000. In November, Solcara Ltd was acquired for a cash consideration of £750,000. Solcara is a search and information management company that has developed core technologies that enable the development of software applications which address the need to search, identify and analyse ever expanding volumes of information - the current 4 product offerings cover legal and professional firms, information access, media relations and crisis management - clients include DEFRA, VISA Europe, Clifford Chance, AstraZeneca, United Utilities and Thomas Cook. For the year to March 2008, Solcara achieved sales of £1.6 million (2007: £1.3 million) and EBIT of £135,000 (2007: £85,000). There are cross selling opportunities with existing group companies. The final results to November 2008 showed sales of £4.0 million (2007: £3.9 million), adjusted operating loss of £655,000 (2007: £44,000 profit) and pre-tax loss of £4.4 million (2007: £(75,000)) - the results include an exceptional charge of £3.7 million (2007: £126,000 charge). The company reported that Willow Starcom and Wired-Gov will not be sold (see 2007/8 interim results re proposed sale of 4 businesses) - of those 4 businesses, The Marketing Guild has been sold; Due North's recurring income has reached £55,000 per month vs. £40,000 as per the 2007/8 interim results - the company is profitable; Solcara's recurring income is £70,000 per month, and since its acquisition, the cost base has been considerably reduced - there are opportunities for cross-selling, particularly with Due North and Wired Gov; MS2M failed to achieve any major new sales during the year, but since the year end has won a major contract with RBS, which is expected to have a favourable cashflow impact by the end of Q2 2008/9; Willow Starcom's recurring income is £110,000 per month - it returned to profitability in Q4, and has continued to be profitable in 2008/9; year end net cash was £717,000; the group is profitable. The interim results to May 2009 showed sales of £2.7 million (2008: £1.9 million), pre-tax profit of £199,000 (2008: £(1.1 million)) and EPS of 0.1p - the results include exceptional items of £nil (2008: £993,000 charge). The company reported that all subsidiaries were making monthly profits by the end of the half year, with performance for Q2 well ahead of Q1 - like-for-like sales grew 7%; MS2M has now won the long expected contract with RBS - this involves a significant consulting and development phase before the delivery of the SaaS service which should begin next year; Due North's recurring revenues grew 30%; the board looks forward to a good H2. The July update reported the acquisition of Ether-Ray Ltd for a cash consideration of £2.4 million - this is being partly financed by the issue of £1.85 million of 6% convertible loan notes with a conversion price of 4p per share. Founded in 1999, Ether-Ray uses the SaaS business model for its 2 products MARCOMM and CODEX - the majority of customers are on 6 year subscription contracts, with subscriptions paid annually in advance; MARCOMM is a tool for managing all facets of the communications function within the public sector, including media and public relations, stakeholder management, internal comms, and marketing aims; CODEX is a database of journalists and media professionals - customers can use the Wikipedia approach and assist each other by updating the database; it services c.25% of local authorities, Universities, NHS organisations, Police Authorities, Charities and Government Agencies. In the year to August 2008, Ether-Ray achieved sales of £888,000 (2007: £564,000) and operating profit of £380,000 (2007: £217,000). Ether-Ray provides significant cross-selling opportunities with other group companies. The January 2010 update re the final results to November 2009 reported that they are anticipated to show sales of c.£6 million (2008: £4.0 million) and operating profit in line with market expectations - year end cash was £1.7 million. Research Standing The restructuring announced in August 2008 will leave the group focusing on its SaaS businesses which have high gross margins (c.88%) derived from compliance driven and/or mission critical software -with the strengthened team (including in-depth experience of the Sage business model) and the June 2009 report that all subsidiaries are trading profitably, the company looks an attractive balance of risk and reward. The company broker's note dated 1st July states forecasts will be reinstated to include the Ether-Ray acquisition (see July 2009 update).
12/6/2009
00:01
howdlep: Access Intelligence is a group of companies delivering a range of business critical support services to private and public sector organisations. The team has extensive experience in making successful acquisitions while simultaneously driving organic growth. Business Philosophy To grow through the acquisition and development of companies providing business critical support services with a strong focus in the following areas: • Strong Recurring Revenues • Cross-Selling Opportunities • Multiple Service Offerings • Leveraging Group Resources • High Customer Retention Rates • Legislative and compliance driven • Quality management teams Clearly the business model of the company has changed rapidly from the days when GE&CR issued their original research note back in September 2008. That is because loss making companies have been restructured, rather than sold, into profitable businesses that have recurring revenue streams. It is to be hoped that GE&CR and/or UKMICROCAP will produce a new research note/updated tip in due course, although I would expect T1PS to make this a full tip once the SF T1PS Smaller Companies Growth Fund complete their stake building. Priced at 4.88p with a market capitalisation of £7.78m this is a business that is due to make a Pre Tax Profit of £400,000 to £500,000 in the year ending November 2009 and at least £1m in the following year. As it is an illiquid stock, with a free float of only 31%, this is one share to buy before a trading update is issued or another acquisition is announced. Trading Update (pending) We maybe due a trading update from the company, as one was delivered on 6 June 2008. Final Results for the Year Ending 30 November 2008, issued 23 March 2009. Highlights Ø Appointment of Michael Jackson as Executive Chairman and David Lowe as Non-executive Director in November 2008 Ø Share subscription raising £1.3m in October 2008 Ø Re-focus of the Group on Software as a Service and significant cost reduction program implemented Ø Acquisition of Solcara Limited and Ray Jackson appointed to the Board in November 2008 Ø Group Turnover of £4.0m (2007: £3.9m) Ø Net cash and bank balances of £717,000 (2007: £833,000) Results (BUT READ ON) Group turnover from continuing activities was £3,967,000 (2007: £3,897,000) The operating loss before impairment on intangible assets and non-recurring expenses was £655,000 (2007: profit £44,000) and the loss attributable to shareholders was £5,876,000 (2007: £92,000).The basic loss per share from continuing operations is 3.59p (2007: 0.04p - loss). The Group has net cash and bank balances of £717,000 (2007: £833,000). The group acquired Solcara Ltd in November 2008 for £750,000 in cash from ArgentVive Plc, who had acquired Solcara in December 2007 for £4.5m. This represented a historic revenue multiple of 0.5x. Its founder Ray Jackson joins the Board as a Non-Executive Director. The Directors are not recommending the payment of an ordinary dividend Strategy At the interims the Group announced that it was intending to sell all its non-software as a service (SaaS) businesses including Willow Starcom, Wired-Gov and The Marketing Guild. Despite considerable interest and after the completion of extensive due diligence, only the sale of The Marketing Guild was completed. The new Board has decided not to sell Willow Starcom and Wired-Gov. These two companies are profitable with strong recurring revenues, and Willow Starcom's balance sheet reflects its enviable status as a strong cash generator. The Board intends to develop Access Intelligence further, with an emphasis on recurring revenues. Our product portfolio offers a strong bedrock on which to build a dynamic and competitive Software-as-a-Service proposition, providing us with sustainable profitability and long term value. Operations Software as a Service Due North has started to see the rewards of its investment in sales pipeline management and marketing at the beginning of the year. Recurring revenues have reached £55,000 per month and it continues to make steady progress in the local authority and emergency service sector in particular. The year has also seen a major upgrading of our core product suite. The company is profitable and with lower costs in 2009 should deliver increased profits. Since its acquisition in November 2008, Solcara's performance has been closely monitored and its cost base considerably reduced. We are pleased to report that the business is performing in line with expectations and that its experienced management team is proving to be an asset to the Group. Recurring revenues have reached £70,000 per month with a continued emphasis on SaaS delivery. The Company offers a diverse product portfolio with a blue chip client base covering the legal sector, industrial companies, Government Departments, Local Authorities and Police Forces. We are enthusiastic about the potential customer cross-selling opportunities between Solcara and the other Group companies, particularly Due North and Wired Gov. MS2M failed to make any major new sales during 2008 although a significant opportunity remained tantalisingly close. Selling into the banking sector over the last 12 months has been very difficult, however increased regulation in the financial services sector for compliance should provide further opportunities. MS2M has recently been rewarded with a major deal at the Royal Bank of Scotland. I would expect this to have a favourable effect on cash flow by the end of Q209. Data Management Willow Starcom had a difficult year. It failed in the first half of the year to deliver sales growth, despite considerable investment in the sales team. The due diligence process through the summer was a distraction. It is to the credit of the management team that the change of policy has lead to a refocused sales effort and reductions in costs. The focus is now on outsourced IT maintenance and support services and recurring revenues now exceed £110,000 per month. The business returned to profit in the 4th quarter and this has been maintained in the current year. Other Wired-Gov made a small profit in 2008 although sales fell slightly as sponsorship proved a difficult sell. Costs have been considerably reduced, and the Company has the potential to add value to other Group subsidiaries, in particular the newly acquired Solcara. Outlook Access Intelligence Plc is in a stronger position than it was 12 months ago; new equity investment, a strengthened Board and a refocused strategy are combining with an increased enthusiasm of the executives of the business. Costs are under close control and will remain so. The Company is profitable and we have significant opportunities available to us during the year. Michael Jackson Chairman SF T1PS Smaller Companies Growth Fund – June 2009 Newsletter And so the rally continues and with it the SF t1ps Smaller Companies Growth Fund continues to prosper – rising in absolute terms and also continuing to outperform "the professionals." We continue to see that there is value in small caps and have therefore added to our holdings meaningfully during the past month. We have added to existing holdings in: Nexus, Lighthouse, Northern Petroleum, Telecom Plus, First Property, Avanti Communications and Access Intelligence. If there is an opportunity to add to holdings in existing investments - where the management team has delivered on what it promised us when investing - at attractive levels we will take it. SF T1PS Smaller Companies Growth Fund – May 2009 Newsletter But assuming that the economy is set to recover during 2010 how are we positioning the fund to benefit? Firstly we believe that our heavy investments since last Autumn in semi cyclicals will pay off. Companies such as Southern Bear, ILX, Interquest, Northern Bear, IQ Holdings and Access Intelligence have enough secure state backed and quasi state backed derived earnings that they were always set to remain profitable during the downturn but as the economy recovers, operational gearing should see a sharp increase in earnings and we expect their shares to be re-rated on the back of increasing earnings forecasts – a double gain for investors. SF T1PS Smaller Companies Growth Fund – April 2009 Newsletter Investment Profile: - Access Intelligence - Why we continue to buy. Access Intelligence was until last Autumn a bit of a basket case. It owned a hotchpotch of IT related businesses but was really a conglomerate rather than a group. The best thing that can be said about it was that it established large losses which can be used to shelter the next 5 year's profits from tax. The world changed when Michael Jackson of Elderstreet and Sage moved in and bought a 29.9% stake (with partners) in a placing at 2.75p which was a huge premium to the then share price. Jackson is no buffoon and he paid that much for a good reason. In fact Jackson 's CV makes him one of the men in IT you really must back. His business partner at Elderstreet is Vin Murria who you will know well from Advanced Computer Software, another stock the fund is backing heavily. Results for the year to November 30th 2008 came out the other day and showed what a mess Access was. Revenues increased marginally to £3.97 million but at an EBITDA level the loss was £655,000 and after non cash asset writedowns and non recurring expenses the headline loss was £4.38 million. But that was then and this is now Jackson has axed some peripheral businesses and as is his wont has slashed costs and tweaked marketing. He has also bought a business called Solcara for £830,000 which looks like an absolute steal. As such he now has a collection of businesses which are as things stand all essentially profitable. He also has net cash of we believe £800,000. The thing is that no-one is buying the shares. This is partly because there is no research out there and the broker (Blue Oar) is in such a mess that it cannot support the stock. It is partly because stocks generally are unloved. And it is partly because investors see a spread of 2-3p and decide not to line market makers pockets by playing the Access game. The SF t1ps fund has taken a different approach and has steadily bought shares month in month out at anywhere between 2p and 2.625p (i.e. always inside the spread). Our purchases have always been small, a few thousand pounds worth here, there and everywhere but the result is that Access now represents just under 2% of the fund and we own just over 2% of Access. So why keep on buying? Firstly we believe in Jackson . Secondly we like the maths. Net cash reduces the risk. Meanwhile we expect pre-tax profits of £400-500,000 in the current year to November 30th 2009 and at least £1 million next year. At 2.5p the company is valued at just under £4 million. So, with a zero tax charge that puts the stock on a November 2010 PE of less than 4 which for a rapidly growing, cash generative business with net cash is far too low. Our plea to market makers is to make the spread even wider. Our plea to brokers is not to publish any research. That way we will continue to build up our stake slowly but surely. Seven and a half hot t1ps for 2009 31 December 2008 3 & 4. I lump both of these stocks together as both are management stories with a common management thread and in the same sector - IT. One stock is a t1ps selection Advanced Computer Software (ASW) and the other a UKMicroCap tip - Access Intelligence (ACC). The former was floated as a cash shell in August, the latter has been an underperforming mini-conglomerate for years. In September Vin Murria took control of the former and a month later Michael Jackson took control of the latter. Vin and Jackson were the driving forces behind Computer Software Group ( an old t1ps success) are are the best consolidators going in IT. Advanced trades at 17.5p valuing it at £33.4 million. It has £15 million cash and one operating business (in healthcare IT) which has historically achieved post tax profits of c£1 million a year on a consistent basis. I understand Murria has already started waving her wand and so I think that this recession proof business should make at least £1.3-1.6 million per annum going forward. So this is a stock trading on an ex cash PE of barely 10. The issue is how that cash is used. I reckon Murria will buy businesses on PEs of 3-5 but having slashed costs the effective PEs will be 2-3. On that basis once here cashpile is deployed, Advanced could be making post tax profits of £6.5-£9 million. This is a growth business with a great management and as such I can see its shares doubling during 2009 when the operating environment favours cash rich consolidators as never before. Over to Jackson. At 2.25p Access is valued at £3.6 million. It has cash of c£1 million. It has businesses which it will sell for £1-1.5 million. Let us use the lower figure. And then with one acquisition already made it has 3 core businesses which should - in the year to November 30th 2009 - generate an operating profit of ( at least) £750,000 and a group pre-tax ( and post tax) profit of £500,000. Obviously as Jackson buys other businesses the proportion of operating profits sucked up by the corporate overhead will fall. But as things stand the core Access businesses are (if one strips out cash and cash that will arrive from disposals) being valued at £1.6 million or just over twice operating profits or a PE of just over 3. Given Jackson's CV, the growth he is starting to deliver and the opportunities for a consolidator the rating is far too low. Third and Fourth t1ps: Buy Advanced Computer Software at 17.5p and Access Intelligence at 2.25p The t1ps Fund Quarterly Newsletter - December 2008 04 December 2008 (16:41:11) The third area we have feasted upon is tech stocks. And in that vein we have bought into Access Intelligence and Advanced Computer Software as well as adding to our holdings in Nexus, IDOX and Formjet. The two new holdings both enjoy very strong cash backing and are the new vehicles of Michael Jackson and Vin Murria respectively. Jackson and Murria performed wonders together at Computer Software and in a sector where there are great opportunities for consolidation, these two executives are those with a proven record of consolidating. The recession will accelerate that process and we are happy to back both Jackson and (more heavily) Murria. We have a few more purchases in the pipeline. But there is no rush. On bad days for the market if we can add to existing hold¬ings at attractive levels we will buy. And we will wait patiently for the inevitable rewards GE&CR Research Note September 2008 (Summary information only) Buy Access Intelligence at 1.625p with an initial 2.95p price target - potential target 5.5p Aim listed Access Intelligence has today announced that Michael Jackson, one of the best names in IT services, is to join the company as its executive chairman and will lead a party investing £1.265 million at 2.75p, a 69% premium to the pre-deal mid-price. Jackson will undoubtedly aim to dispose of non core operations as rapidly as possible leaving Access as a pure play in the Software as a Service sector. Should Access be able to realize proceeds of £1.2 million from selling its non-core units, as we believe to be possible then it will have net cash of £3 million or 1.95p per share. Although results for the year to November 30th will be unimpressive, we believe that the core SAS units could generate operating profits of £400,000 next year and valuing them on a multiple of four times profits we arrive at a base case sum of the parts valuation of Access of 2.95p. However, we believe that with valuations in the sector undemanding, Jackson – who has a proven track record of acquisition and integration – will use this company as a consolidation vehicle and that could be used to argue for a valuation of up to 5.5p. However, at this stage we re-initiate our coverage with a stance of "strong buy" and an initial target of 2.95p. Access is currently a holding vehicle for a group of companies providing subscription based, business critical support to private and public sector organizations. Jackson's career at Sage, Computer Software Group and at Elderstreet Investments has been built in the Software as a Service sector and hence we expect that units involved in compliance and marketing services will be sold rapidly leaving the group to focus on providing software as a service through its Due North and MS2M subsidiaries. Moreover, with private companies in this sector changing hands on multiples of 4 to 5 times operating profits we envisage that Jackson will use the £3 million that he should shortly have at his disposal to act as an aggressive consolidator. Jackson, and his colleague David Lowe who will join as a non executive director, are heavily incentivised to succeed. Under the subscription agreement, Jackson, David Lowe and Elderstreet will collectively own 29.52% of the enlarged share capital. The company also entered into agreements whereby Jackson, Lowe and Elderstreet have been granted options over an additional 23.3 million shares. If all options were exercised, these options would represent an additional 13.01% of the issued share capital so one might assume that, in order to stop a mandatory bid being triggered, the options will not be exercised until additional equity has been issued (which we would expect to go to vendors as part of the acquisition strategy). Jackson will become Executive Chairman of the company and Jeremy Hamer has agreed to stand down as Chairman but remains as a non executive director. Ian Savage will also step down and David Lowe will be appointed as non executive director. The current finance director Colin Davies will keep his job. Access has released a number of profits warnings over the past 18 months and at a headline level this resulted in it recording pre-tax losses in the interims for the first half of the year. Headline numbers are distorted by a high, non-cash, goodwill amortization charge and at an underlying level the company has been profitable for two of its three years as a quoted company and only just missed profitability in 2007. The disappointment at a trading level was largely caused by its MS2M division – which develops compliance software for the financial services industry - suffering major project delays at two of its larger customers. In early August Access warned that the second half of this financial year was shaping up to be no better than the first and that a cost saving programme – designed to net £400,000 was underway. It also flagged that its CEO Brendan Austin was stepping down for health reasons. However there is no disguising the fact that results for the year to November 30th 2008 will be poor – supporters had hoped that Access would book a profit of £250,000 but we now expect a loss to be announced. However Access is a company waiting to be transformed and Jackson is the man to do it. As a base case we value it on the back of net cash post disposals and a conservative multiple of four times forecast operating profits for the Software as a Service businesses – we note that most trade sales of private companies in that sector have been achieved on marginally higher multiples. After the current fund-raising, net cash will stand at £1.75 million. We believe that the sale of discontinuing operations will fetch £1.2 million which would leave a net cash figure of £3 million. The operating profits from Due North and MS2M should reach £400,000 in the year to November 2009 (pre-tax profits of £150,000 will be recorded after a £250,000 corporate charge) and thus our base case valuation is £4.6 million or 2.95p per share. However, as we will explain below, one can see circumstances which could justify a valuation of 5.5p per share and our 2.95p initial target still leaves further upside potential. At 1.625p our stance is buy. Growth Organically and by Acquisition The growth of the business has been both organic and driven by acquisition, as sales have increased in all of the businesses that have been acquired. The most important steps in the development of the business are shown below: • December 2008 Ray Jackson, Non Executive Director signed a subscription agreement whereby he will subscribe for 3,636,364 new ordinary shares at 2.75p per share. Mr Jackson will also have an interest in 3,381,319 options over ordinary shares exercisable at 3.00p • November 2008 Acquired Solcara - a major UK search and information management company • October 2006 Acquired MS2M - a leading developer of compliance software for the financial services sector • October 2005 Integrated Backup and Running within Willow Starcom • July 2005 Acquired Due North Ltd- A leading developer of business software notably eSourcing , electronic tender and contract management • June 2005 Acquired Ridgeway Technologies Ltd trading as Willow Starcom. A specialist company in high availability storage and retrieval systems and networked solutions and support. • December 2004 Raised £2.8m net of costs • December 2003 Acquired Backup and Running Ltd, Wired Gov Ltd and The Marketing Guild Ltd. Admitted to AIM The Group of Companies Compliance Division Due North http://www.due-north.com Due North develops from its base in Newcastle-upon-Tyne, software solutions to solve business problems. Its principle focus is on e-procurement software, which is widely used in the local autority sector. The product suite enables any organisation to manage the complete customer/supplier relationship from initial expression of interest, through tender evaluation, post tender negotiation - using its reverse auction software - to contract award and life cycle management. MS2M http://www.ms2m.com MS2M is a developer of compliance software for the financial services industry. 'Virtual Compliance Officer' which is an additional component of the company's core software 'Track Record'. The application monitors individuals' activities within an organisation in real time, and identifies their risk profile from a compliance perspective. Individuals are graded via a traffic light system in accordance with key performance indicators; green for full compliance, amber for moderate risk and red for high risk. In the case of risk identification, remedial advice is offered. The 'Virtual Compliance Officer' is essentially the prime tool for collecting vital RMAR (Retail Mediation Activities Return) information. Clients include RBS Group, National Australia Group, Liverpool Victoria, AXA and St James's Place. Data Management Division Willow Starcom Ltd http://www.willowstarcom.co.uk Willow Starcom supplies mission critical data storage, retreival and network solutions to mid-sized corporate businesses. It sells its services through a reseller channel which Backup & Running Plc http://www.backupandrunning.co.uk Backup and Running provides offsite online data storage and retrieval to small and medium sized enterprises. Customers' data is encrypted to military standard level on site then compressed and stored at world class storage centres in the UK. The process is competely automated and the customers can determine the frequency of the back-up process to suit their own operating requirements. It is an ideal solution for companies with multiple locaitons or field operators using mobile computing. Backup and Running operates from Chorley in Lancashire. Marketing Services and Information Division The Marketing Guild (Now sold) http://www.marketing-guild.com The Marketing Guild, based in York, provides marketing and business development support to small and medium sized businesses (members) on a subscription basis. Members recieve support through practical newsletters and regular training conferences which are held nationwide. They also have access via a helpline to the Marketing Guild knowledge base which contains more than 40, 000 proven ideas, tactics and strategies. Platinum members have their own personal marketing consultant who provides telephone support to an agreed development plan based on the Spectral Marketing model developed exclusively by The Marketing Guild. Wired Gov http://www.wired-gov.net Wired Gov, based in Stockport Lancashire, provides, under license from the cabinet office, government news alerts from more than 100 departments and agencies. Subscribers can register their preferences by agency, department, key words and phrases. They can determine the frequency of the alerts from immediate to daily or weekly. Typical subscribers in the private sector are financial services organisations and professions. Investor Information Access Intelligence Plc ORD 0.5p Primary Country Listing UK Status AIM Index FTSE AIM All Share Sector Software & Computer Services Activities Software developer; supplier of Software as a Service; data management EPIC ACC Current Price 4.88p Market Cap £7.78m Shares in issue: 159,437,363 Major shareholders Number of shares % Fund managers Elderstreet Investments 23,000,000 14.76 Octopus Asset Management 13,890,000 8.92 Unicorn Asset Management 11,400,200 7.32 Williams De Broe 5,085,000 3.26 Directors Michael Jackson, Chairman 17,545,454 11.26 Shareholders above 3% David Alderson* 8,412,884 5.40 Andrew Unsworth* 6,767,487 4.34 Mark Berry* 6,715,117 4.31 * Denotes director or employee of subsidiary company Total shares not in public hands is 107,613,431 (69.07%) Information Source: Company website SF T1PS Smaller Companies Growth Fund Newsletters T1PS Website RNS official releases
Access Intelligence share price data is direct from the London Stock Exchange
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