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Accesso Technology (ACSO)

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Monday 27 January, 2020

Accesso Technology

Board Changes

RNS Number : 9321A
Accesso Technology Group PLC
27 January 2020
 

The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation 596/2014.

 

 27 January 2020

 

accesso® Technology Group plc

 

("accesso" or the "Company")

 

Board Changes

 

accesso Technology Group plc (AIM: ASCO), the premier technology solutions provider to leisure, entertainment, hospitality, attractions and cultural markets, is pleased to announce that further to the announcement made on 23 January 2020, Steve Brown has now been appointed as the new Chief Executive Officer and a Director of the Company, with immediate effect.

 

The Company also confirms that Paul Noland has now resigned as Chief Executive Officer and steps down from his role on the accesso Board concurrently with Steve's appointment.

 

LTIP Award:

As part of Steve's appointment to the Board of accesso, the Board has agreed to issue up to 582,567 nil cost options over ordinary shares of 1 pence each in the Company ("Ordinary Shares") as a long-term incentive plan ("LTIP") that appropriately incentivises him for delivering growth and shareholder value.

 

The LTIP will require Steve to remain in employment with the Company at the date of exercise and will be subject to certain financial and operational performance conditions, measured over the period to 31 December 2022. There is no intention to make further awards to him during this period.

 

Post the LTIP award, Steve holds an interest in the Company of 316,774 Ordinary Shares and 582,567 options over Ordinary Shares.

 

The information required by Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies in relation to the appointment of Steve Brown (aged 51) is as follows:

Current directorships:

Date Appointed

Company Name

Position

 

 

 

November 2010

Resilient Holdings, LLC

Member

March 2013

Council Properties of Lakeland, LLC

Member

March 2013

SLS Properties of Lakeland, LLC

Member

May 2013

Resilient Properties, LLC

Managing Member

October 2016

Resilient Properties Winter Park, LLC

Managing Member

November 2016

Resilient Restaurants, LLC

Managing Member


Previous directorships:

Tenure

Company Name

Position(s)

 

 

 

December 2012 to April 2018

accesso Technology Group plc

Chief Operating Officer, Chief Executive Officer

March 2017 to November 2018

Ingresso Group Limited

Chief Operating Officer

 

In 2008, whilst Steve was CEO of Cygnus eTransactions Group, Inc, its board of directors voted to reorganise under Chapter 11 of the US Bankruptcy Code and its assets were subsequently liquidated.

Save as disclosed above, there are no further disclosures required to be made in respect of the appointment of Steve Brown under Schedule 2(g) or Rule 17 of the AIM Rules for Companies.

For further information please contact:

accesso Technology Group plc

Bill Russell, Non-Executive Chairman

John Alder, Chief Financial Officer

Simon Chisholm, Investor Relations              

 

 

+44 (0)118 934 7400

 

 

+44 (0)1825 723 440                                                               

Canaccord Genuity Limited (Nominated Adviser and Joint Broker)

Simon Bridges, Richard Andrews

 

+44 (0)20 7523 8000

 

 

 

 

Numis Securities Limited (Joint Broker)

Simon Willis, Mark Lander

 

+44 (0)20 7260 1000

 

 

 

FTI Consulting, LLP             

Matt Dixon, Adam Davidson, Chris Birt

 

+44 (0)20 3727 1000

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mr. Steve Brown

2.

Reason for the Notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

accesso Technology Group Plc

b)

LEI

213800VY7MXUO7STIN73

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of 1 pence each

Identification code

GB0001771426

b)

Nature of the transaction

Award of Options over Ordinary Shares

c)

Price(s) and volume(s)

Exercise Price(s)

Volume(s)

Nil cost

582,567

 

d)

Aggregated information:

·Aggregated volume

·Price

 

See 4c) above

e)

Date of the transaction

27 January 2020

f)

Place of the transaction

Off exchange

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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