Accesso puts itself up for sale following bid approaches

Mark Johnson's picture

London-listed Accesso, which provides virtual and online ticketing solutions and virtual queueing technology solutions to the hospitality industry, has put itself up for sale.

In a stock market statement, the company announced that, following the receipt of approaches from a number of parties regarding a potential sale of the company, it has decided to conduct a formal sale process under The City Code on Takeovers and Mergers. 

“The Board of accesso has determined that this is the most appropriate mechanism, for a UK-listed company subject to the Code, to determine whether or not this high level of inbound interest will translate into an offer or offers on terms which the Board is prepared to recommend to accesso shareholders.”

The Board of the FTSE AIM 100-listed firm has also appointed KeyBanc Capital Markets as its financial adviser with regards to the formal sale process and Canaccord Genuity Limited as independent Financial Adviser for the purposes of Rule 3 of the Code, in addition to being Nominated Adviser and Joint Broker to the Company. 

The Board has appointed Numis Securities Limited as Financial Adviser and Joint Broker to the Company.

Accesso’s share price surged 47% to £11.15 on the London Stock Exchange following the announcement. However, they have fallen a long way from the £29 reached in September last year.

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