Access Intelligence PLC Conversion of Loan Notes (5139A)

TIDMACC

RNS Number : 5139A

Access Intelligence PLC

29 December 2017

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

29 December 2017

ACCESS INTELLIGENCE PLC

("Access Intelligence", "the Company" or "the Group")

Conversion of Loan Notes

Access Intelligence plc (AIM: ACC), a leading supplier of Software-as-a-Service (SaaS) solutions for communications and reputation management, is pleased to announce that both the holders of the GBP1.25 million nominal unsecured convertible redeemable loan notes issued on 30 June 2009 (as subsequently varied) ("the 2009 CLNs") and all the holders of the GBP1.1 million nominal five year unsecured convertible redeemable loan notes issued on 8 December 2014 ("the 2014 CLNs") have delivered conversion notices to the Company effective yesterday.

The 2009 CLNs will convert into 31,250,000 new Ordinary Shares at a conversion price of 4p per share in accordance with the terms of the 2009 CLNs. Application has been made for 31,250,000 new Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange and dealings are expected to commence on 3 January 2018 ("First Admission").

The 2014 CLNs will convert into 36,666,665 new Ordinary Shares at a conversion price of 3p per share in accordance with the terms of the 2009 CLNs. Under the terms of the 2014 CLNs the holders are required to give 30 days' notice of conversion. Accordingly, the conversion of the 2014 CLNs will take effect on 29 January 2018. Application will be made for 36,666,665 new Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange and dealings are expected to commence on 29 January 2018 ("Second Admission").

Access Intelligence CEO Joanna Arnold said "We are delighted that all the Loan Note holders have converted their holdings of Loan Notes in to Ordinary Shares. This demonstrates strong support from the Company's largest shareholders, improves our balance sheet and removes a significant interest burden from the Company.

The Group has had a strong finish to the financial year with our Vuelio business in November delivering its best monthly performance of the year in terms of net annual contract value growth. We are extremely proud of everything the Group has achieved in 2017, and even more excited about the prospects for 2018. With our commercial momentum and an innovative product development pipeline, we look forward to continued strong growth and accelerated expansion next year."

Total Voting Rights

With effect from First Admission, the Company's issued share capital will comprise of 379,924,357 ordinary shares, with one voting right per share ("Ordinary Shares"). The Company holds 29,666,667 Ordinary Shares in treasury and therefore the total number of Ordinary Shares with voting rights in the Company will be 350,257,690. Upon First Admission, the figure of 350,257,690 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

With effect from Second Admission, the Company's issued share capital will comprise of 416,591,022 Ordinary Shares. The Company holds 29,666,667 Ordinary Shares in treasury and therefore the total number of Ordinary Shares with voting rights in the Company will be 386,924,355. Upon Second Admission, the figure of 386,924,355 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information:

Access Intelligence plc 0843 659 2940

Michael Jackson (Non-Executive Chairman)

Joanna Arnold (CEO)

Allenby Capital Limited (Nominated Adviser and Broker)

David Worlidge / James Thomas 020 3328 5656

This information is provided by RNS

The company news service from the London Stock Exchange

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December 29, 2017 02:00 ET (07:00 GMT)