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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Actual Experience Plc | ACT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 0.425 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.425 |
| Industry Sector |
|---|
| SOFTWARE & COMPUTER SERVICES |
| Top Posts |
|---|
Posted at 07/11/2023 07:16 by tomboyb Actual Experience PLC Intention to Appoint Administrators & Suspension (5593S)07/11/2023 7:00am UK Regulatory (RNS & others) Actual Experience (LSE:ACT) Intraday Stock Chart Tuesday 7 November 2023 Click Here for more Actual Experience Charts. TIDMACT RNS Number : 5593S Actual Experience PLC 07 November 2023 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("UK MAR")). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF THE PLACING WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED IN UK MAR), AS PERMITTED BY UK MAR. THIS INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT. THEREFORE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE INFORMATION RELATING TO THE COMPANY AND ITS SECURITIES. FOR IMMEDIATE RELEASE 7 November 2023 Actual Experience plc Company Update, Intention to Appoint Administrators and Suspension of Trading in Shares Actual Experience plc (AIM: ACT), the analytics-as-a-servi Introduction The Company disclosed in its unaudited consolidated interim results for the six months ended 31 March 2023 (the "Interim Results", released on 12 June 2023) that, based on its latest "base case" assessment, and in the absence of cost reductions or significant commercial progress, the Company was forecast to run out of cash by December 2023. As part of the Interim Results, the Company's board of directors (the "Board") also prepared a severe, but plausible, downside scenario based on significantly more pessimistic sales forecasts, with corresponding reductions in controllable costs. In this scenario, the Company was forecast to run out of cash by November 2023. Current Trading and Financial Position During the financial year ended 30 September 2022, the Company reduced ongoing expenses from GBP680,000 per month to GBP460,000 and expenses have been maintained at this level during the financial year ended 30 September 2023 ("FY2023"). During FY2023 and subsequently, the Board has been constantly reviewing the Company's cost profile and organisational structure, however, the Board also formed the view that the Company had reduced headcount and its operating cost base to the lowest viable level while still retaining the ability to deliver commercial objectives regarding order acquisition and customer support, as well as developing additional required product features. Although the Company made commercial progress during FY2023, securing new revenue contracts and significant sales has taken longer than expected and, as a result, trading has largely tracked the severe, but plausible, downside scenario announced in the Interim Results. This, along with additional costs exploring strategic options as outlined below, has resulted in a depletion of the Company's cash reserves and without new funding, the Company would have inadequate funds to continue trading after late November 2023. Strategic Options The Company also announced in the Interim Results that if it were unable to secure an appropriate combination of new revenue contracts, cost reductions, and/or further funding, then the Company may not have sufficient resources to meet its liquidity requirements over the foreseeable future. As described above and at the current time, the Company has been unable to secure significant new revenue contracts or cost reduction and so the Board has been exploring an equity fundraise to increase the Company's cash reserves and has been in active discussions with existing and potential shareholders over the last few months. On 14 August 2023, the Company submitted a letter to HMRC seeking advanced assurance under the Income Tax Act 2007 that it is eligible to issue shares to investors that would benefit from relief from taxation under the enterprise investment scheme ("EIS") regime, reflecting the Board's view that receiving advanced assurance from HMRC provided the greatest chance for a successful equity fundraise. While exploring an equity fundraise, the Company has been in discussions with various venture capital trust and EIS funds along with other potential investors. Despite the Company submitting information and replying promptly to queries, HMRC have not, as at the date of this announcement, provided a formal response regarding the Company's application within HMRC's published timescales for responding to applications for advanced assurance. It is the Board's view that it is now highly uncertain whether any formal approval regarding its application could be expected from HMRC within the required timescales, having regard to the Company's rapidly depleting cash reserves. Alongside progressing a possible equity fundraise, the Company has explored other strategic options with the assistance of FRP Advisory Trading Limited ("FRP Advisory"), including an accelerated M&A process to seek an acquirer of the Group's business and assets, and contingency planning. In relation to accelerated M&A, FRP Advisory contacted a number of potential acquirers on the Company's behalf, however received no firm indications of interest in response. The Board therefore terminated this process due to the lack of interest and the significant ongoing costs involved. Having considered the Company's rapidly depleting cash position and the lack of progress regarding an equity fundraise and the other strategic options explored, it is the Board's view that it is unlikely to be able to secure the funding that it requires or complete an alternative transaction in a timely manner to secure the Company's future and so is now taking action to protect value for the Company's creditors and other stakeholders. The Board has therefore regrettably resolved to file a notice to appoint administrators to the Company with such appointment expected to take effect later today. Resignation of nominated adviser and joint brokers As a result of the Company's intention to appoint administrators, Singer Capital Markets Advisory LLP and Turner Pope Investments (TPI) Ltd have informed the Company of their resignations as nominated adviser and joint broker and joint broker to Actual Experience plc respectively, effective immediately on the release of this announcement. Pursuant to AIM Rule 1, if a replacement nominated adviser is not appointed within one month of today's date, the admission of the Ordinary Shares to trading on AIM will be cancelled. The Company has no current intention of appointing a replacement nominated adviser. In light of the above, the Board announces that it has requested a suspension of trading in the Company's ordinary shares on AIM with effect from 07.30 a.m. today. Further announcements will be made in due course . Enquiries: Actual Experience plc Tel: +44 (0)207 Iain McCready, CEO 129 1474 Steve Bennetts, CFO Singer Capital Markets Advisory Tel: +44 (0)207 LLP 496 3000 Shaun Dobson James Fischer Turner Pope Investments (TPI) Tel: + 44 (0)203 Ltd 657 0050 James Pope Andy Thacker Flagstaff Strategic and Investor Tel: +44 (0)207 Communications 129 1474 Tim Thompson actual@flagstaffcomm Mark Edwards Andrea Seymour Anna Probert |
Posted at 01/8/2023 22:34 by avenue_of_revenue Once odey is out and more contracts follow, and it will this should re-rate big time. Remember Dev Clever a few years back, this has a similar feel. From 1p to 30p in a few months. The tech, new management team and CEO, focus on sales and cash balance make this a good short to medium term opportunity for new investors. Current cash balance exceeds current market cap. |
Posted at 29/6/2022 09:51 by smithless Only saving grace (material uncertainty obviously as a going concern does exist) is their are 8 institutional investors with a combined holding of 55%, who may throw some more cash at it. It stated in its interims it had enough cash to last until September 2023, but in reality a fund raise will be needed Q1 2023. Needs new energy and vision, something the current CEO doesn't bring to the party. Purely a punt |
Posted at 20/6/2022 08:39 by smithless Just noticed 60% down today!!! 3p mid price. Institutional investors who got in at 105p Jan 2021 must feel stupid, but amazingly 93% of them vote Page to continue as CEO at last AGM!! |
Posted at 03/2/2022 09:49 by smithless Had this one on my list as a possible oversold position, but its obvious the CEO is out of his depth. Why on earth are they wasting money on an IR director? The company has a good list of investors, why on earth are they putting up with this cash shredding management team? |
Posted at 13/2/2014 14:42 by simon gordon Praipus,From the Admin Document: In November 2011, Actual Experience secured additional funding of £0.60 million with the majority of the subscription again coming from IP2IPO. With initial sales commencing in 2010, this funding provided the necessary working capital to enable the Company to recruit additional development employees and to establish a greater customer facing presence. Employee numbers increased steadily from eight in November 2011 to the current level of 16, all based at the Company's Bath office. Further equity funding of £4.07 million was received in November 2013 from a group of investors led by funds managed by Henderson. Concurrent with this funding, convertible loan notes totalling £0.51 million, including accrued interest, which had been issued between April and July 2013, were converted into equity. The purpose of this funding was to provide further working capital to the Company and, in particular, to facilitate expansion of its development and sales functions to drive further growth. On 5 February 2014 a capital reduction exercise was performed which converted the Company's share premium account of £5.9 million to distributable reserves, thereby eliminating the deficit on the reserves account, following which the Company was converted to a public limited company on 11 February 2014. ===== That is why they called it an "Introduction Price". There's basically no stock about. I've never come across this before. I did read that Osborne had set up a new hi tech area of the market where tech stocks could ipo with limited free float, not sure if ACT is joining under that umbrella. |
Posted at 13/2/2014 10:40 by simon gordon Tech Market View - 13/2/14:It's the experience, Actually Today sees the first day of trading for AIM newcomer Actual Experience. The Bath-based company which is a spin out from Queen Mary's University of London, has an intriguing proposition, describing itself as Analytics-as-a-Servi The focus on the digital (rather that the physical) supply chain, marks the company as a product of the digital age, addressing a new set of problems. It says the experience aspect differentiates it from performance management systems, enabling it to identify sub-optimal performance across the supply chain and at the point of consumption. So far it has a small but quality set of customers including Accenture (UK), Cisco Systems, Deutsche Post and Verizon Business. Actual Experience was founded in 2009, backed by a group of early stage investors led by IP2IPO. In November 2013 it raised £4m from a consortium of investors led by Henderson Global Investors. It listed on the AIM at 54.5p with a capitalisation of £15.6m which is shall we say a confident valuation given the size of the business. Revenue for the year to July 31 2012 was £120k, rising to £440k for the 14 months to September 30 2013. There will be plenty to explore once we meet with the management team. |
Posted at 13/2/2014 07:31 by mirabeau Actual Experience set to become one of LSE's first tech IPOs in 2014The Bath-headquartered company provides businesses with a "digital analytics-as-a-servi By Sam Shead | Techworld | Published: 15:29, 13 January 2014 Bath-based analytics firm Actual Experience is set to become one of the London Stock Exchange's (LSE) first tech listings when it goes public on the Alternative Investment Market (AIM) at the end of the month. The announcement comes just a week after the LSE said that UK tech companies can raise just as much money in London as they can in New York, despite some experts claiming firms can raise 300-500 percent more on overseas markets like Nasdaq. "I think the AIM market in London is particularly good for companies of our size," said Actual Experience CEO Dave Page. "As a British business with a lot of global customers, the AIM market seemed the obvious choice for us. Related Articles on Techworld "We're a long way through the process," Page told Techworld. "The date is yet to be nailed completely but it should be the end of January or early February." The firm claims its analytics-as-a-servi The company, founded in 2009, has already acquired blue-chip customers including Cisco, Standard Bank, the Falkland Islands Government, Deutsche Post DHL, Verizon, Conde Nast, Accenture, ITV and Charles Stanley. The initial public offering (IPO) is set to value the company at £17 million and comes after the company was backed by global investors Henderson to the tune of £4 million last November. "The fundraising is about beefing up the balance sheets so we can support some of the customers that we're acquiring at the moment," said Page. "For a tiny little British start-up they're hard to deal with. We've got some sensational customers on board but they are demanding and they are exhausting so the increase in the balance sheet is about recruiting people in on the front end and the back end to really develop the opportunities we've got with these big customers." Page revealed that he expects to double the size of his 17-strong workforce over the next year. Henderson's UK & Irish fund director, Rob Giles, said: "We haven't come across such an exciting technology company with truly global potential for many years. We believe this has the potential to be the best float of 2014." The company also caught the eye of early investors IP Group, who now owns a 30 percent stake in the business. Mark Reilly, head of physical sciences at IP Group, said: "We see a lot of exciting new inventions at IP Group - several every week but Actual Experience has one of the most profound and broadly applicable products I have seen. Its value is ubiquitous. There are very few individuals or businesses of any size in the modern world that could not yield great benefit from the Actual Experience product." An LSE spokesperson said there are a couple of other tech IPOs in the pipeline for January in addition to that of Actual Experience. |
Posted at 15/9/2005 00:15 by rainmaker A consolidation issue or stock split is urgently needed here as the high dealing costs are putting off potential Buyers and having an negative effect on the Company's share price.The cost of the spread is currently 23%(calculated by offer price less bid price divided by offer price-3.25-2.50/3.25 x100.If the Company could cancel its 66mln shares and replace them with 6.6mln new shares then I would estimate the spread and dealing costs to halve.Furthermore I believe that(for the same reason) it is receiving less coverage/exposure from the Press than would othewise be the case-I can't ever remember a "Value" Share being tipped whose share price was less than 10p. It's true that a consolidation issue would just be a paper exercise but it would attract renewed interest in this Company and its products from Stock Market Investors who,I think it's fair to say that, generally, have comparatively high rates of disposable Income.IMHO a CI would be cost effective and money well spent Regards |
Posted at 14/9/2005 10:54 by mark c graham wal footrot,"i would think the losses and outlook would have a pretty decent part to play in the ratio you mention". No disagreement there, but the losses are not massive in the context of the turnover, and the company already seems to be taking appropriate action to respond to the poor outlook. If and when the market turns, we have a potential multi-bagger (market cap = turnover would not be ambitious for a successful retailer). At the moment, I think the scale of the upside looks good value against the scale of the downside. (If ACT succeeds, you gain 5x plus your investment, if it fails, you lose the lot). The Gylenhammar involvement also brings the potential for some short term trading gains, if investors follow him in in any volume. In summary, it's a gamble but, to me at least, the odds look increasingly attractive. |
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