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27/11/2020
11:27 | dgwinterbottom: Morning All
Having held ACC for quite some years I have become intrigued by the kestrel parners holding now 27% over the last few years and found the attached quite interesting.. hxxps://kestrelip.com/case-studies/access-intelligence-plc/. I would have thought they are unlikely to increase their holding much beyond the present level given the compulsory requirement to make a bid. That said shareholders with in excess of 3% total 83% plus another 5% for those held by Directors leaving just 13% free float. Any sizeable acquisition would have a marked effect on the share price would it not?
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03/3/2017
13:47 | dgwinterbottom: Lewis - thanks for that, you are quite correct the resignation would appear to have been frim AI Track Record. I was aware of the interest in AI by ACC but surprised they may spend so much effort given there is only a 20% holding.
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03/3/2017
11:57 | dgwinterbottom: Lewis - Having spoken to someone very close to the company albeit some time ago it was felt that it would be a long slog but they would get there. In the meantime JA and MJ resigned from the Trailight Board on 1 July 2016, hopefully they felt it would be more meaningful to spend their time with ACC
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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
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04/8/2015
19:13 | jimbobtechstock: Apologies on MJ yes of course he has 25m not 2.5m Just seemed large compared to the quiet period and I started to get nervous about upcoming results - I have such great hopes for ACC!
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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.
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30/7/2015
08:25 | jimbobtechstock: ACC have an early year end so interims are due out in August. Will be an interesting time as the period covers consolidation of acquired businesses together with, one presumes, the tail end of their platform investment project.
I've built up quite a holding (for me, anyway) all sub 4p. Overall I'm very confident about this business. The down-to-earth approach to expansion, cashflow management, investment in their platforms. Director dealings are a vote of confidence too.
But admit I'm a bit nervous how the market will read the upcoming results. I hope with a relatively stable share price (relative to other AIM companies) indicating many longer term holders that the response will be considered, should the results throw up anything interesting. Or maybe they will just show more solid progress, who knows.
Anyone still awake on this board with views?
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26/6/2015
09:01 | jimbobtechstock: What stands out about ACC for me is turnover per share is approx equal to the current share price For a non-listed company that kind of valuation would be nuts but the market doesn't seem to like the kind of non-leveraged restrained investment and growth trajectory this this share seems to be on.
I'm hoping for x10 long term on this. I'm just a punter so usual disclaimers apply - this personal opinion, DYOR etc.
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29/5/2015
10:57 | michaelmouse: Interesting to project forward here. If they cut development spend even by £1m from £4m to £3m per annum, revenues increase modestly and you add back around £800m for impairment of intangibles then adjusted EPS is somewhere between 0.6p-0.8p. A p/e ratio of 12 then gives an share price somewhere between 7p-10p. In reality I would expect development spend to fall more significantly and revenues to increase more robustly. Worth playing with the figures. I expect the company at this point would reinstate dividend payments as well given it's cash generative nature.
Michael.
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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.
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