Mentioned by Share M … On Dr M bb … 28 August 2019.
RNS put itself up for sale on 24th July 2019 , price jumped 45% 755 to 1105.
Dropped back down to 910 now.
Poster lse pointed out this about levels directors bought some more .
He thought offer of 1400-1800 would be acceptable.
Directors bought back in April two on the 2nd @ 845 & 862, third director smaller buy on 5th April @980p
Big fall back after the spike high of 1120p … drifted all the way back to today’s 780p
17% drop here today after this news.
Accesso Technology Rejects Initial Takeover Offers; Talks Continues
from Alliance News | 15th October 2019 11:05
(Alliance News) - Accesso Technology PLC said Tuesday it was continuing to engage with some potential suitors, despite rejecting some bids proposed to date following previous unsolicited approaches.
Shares in Accesso were 18% lower at 651.00 pence in London on Tuesday.
In July, the queueing and ticketing products maker started a formal sale process after receiving unsolicited takeover approaches. Accesso launched the formal sale process in order to “ascertain whether such interest could translate into an offer for the company” which it considered worthwhile.
Since the formal sale process was launched, the firm has been engaging with several interested potential buyers which subsequently resulted in non-binding indications of interest. The board of Accesso has not deemed any of the offers to date as being of “sufficient value to shareholders”, however.
Accesso continues to engage with some of the potential suitors to determine whether an offer for the firm “can be delivered at a value that the board considers is attractive to shareholders”.
By Ahren Lester; email@example.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
corporate actionssignificantAIMIPOs & new issuescompanies
And a view form Paul Scott… Stockapedia
accesso Technology (LON:ACSO)
Share price: 675p (down 15% today, at 08:18)
No. shares: 27.6m
Market cap: £186.3m
Update on the formal sale process
accesso Technology Group plc (AIM: ASCO), the premier technology solutions provider to leisure, entertainment, hospitality, attractions and cultural markets, provides the following update on its announced formal sale process (the “Formal Sale Process”) under the City Code on Takeovers and Mergers (the “Code”).
It’s clear that nobody really knows how to value this company. The share price peaked at almost 3000p in Sep 2018, valuing it then at c. £828m. It’s since lost almost 78% in price. The announcement of a formal sale process starting, in Jul 2019, following a number of unsolicited bid approaches, saw the share price spike up 60%, from 690p to 1105p, and we’ve since seen the bid premium disappear again.
The upshot is that interested parties have not offered enough to tempt management;
The Company and its advisers have now received refreshed indications of interest from a number of the interested parties, none of which are at a level that the Board feels offers sufficient value to shareholders.
The Board and its advisers are continuing to engage in discussions with certain of these parties to determine whether an offer for the Company can be delivered at a value that the Board considers is attractive to shareholders.
The problem with this, is that the announcement today doesn’t disclose what level the bid interest is at. I feel this is absolutely key information which shareholders are entitled to be told. It’s not right that the Directors alone (plus presumably their advisers) know what the company is worth (i.e. what bidders were prepared to pay) but shareholders are not being told this information.
Since we have not been told what price bidding interest is at, it’s virtually impossible to value this share. The fundamentals are difficult to interpret too, because so much is being capitalised into development spend on the balance sheet.
On balance, I feel that, given the length of time that the company has been up for sale, the lack of an acceptable offer feels rather bearish.
On the upside case, you can now buy the same company almost 80% cheaper than at the top of the bull market last year.
Personally, I would want to see more evidence of positive cashflows before taking an interest here.
The low had been on 15th oct @ 658p … 639p today .
Have been trying to pick up for 600p last few weeks … lifted this morning @ 9.37am
( before Manor 10 am )
Good job i do not read the Dr M bb very often these days .
This one a right stinker 320p today down 23% it appeasers no one interested in buying it after they put company up for sale.
View below from lse on today’s rns.
The news we all expected !!!Today 07:35
I think we all expected this at some point given the share price - I’m just surprised the board let this carry on as long as they did I am concerned that the 24 March is going to have more holes in the Report than I would like and concerned that multiple bidders couldn’t find a reason to buy a company which recently traded at around £30. My personal view is that the Bolt on acquisition strategy has bolted on too many duds and destroyed Shareholder value and there will be notable Goodwill wrteoffs - and that is why potential buyers are not prepared to waste their money turning this around - we will know in 2 months time.
@Ripley94, that’s a bit harsh, I did comment about the failure over on the Dr M bulletin board. We are never going to get everything right, if you claim you do you are obviously lying. I managed a return of 20% across my entire portfolio in 2019 which I was happy with and ACSO was only a very small fraction of that portfolio so has not had a large impact. As always you should DYOR.
share_123_maiden… “that’s a bit harsh.”
Its amazing that folk can be so touchy i said nothing derogatory about you ?
But you can post “if you claim you do you are obviously lying”
I actually despise lying .
I do not know you or others on that Dr M board from “Adam” others must keep that in mind.
Its was quite suspicious when the bulletin board Founder suddenly no longer posts and others who do claim to know each other say nothing.
@Ripley94, I did not accuse you of lying, I was just saying nobody gets everything right all of the time.
Dr M didn’t actually start the board, although he did post there. I did explain I had tried to contact him but he had ignored emails and hung up when I tried to call him. He didn’t like the fact that I passed negative comments about Lloyds and Vodafone, which were obviously large holdings of his. If you look at the performance of those two shares (including dividends) since he stopped commenting on the board I think you will find my judgement was correct.
share_123_maiden … “nobody gets everything right all of the time.”
Defiantly not me i am not very good at all but hopefully getting better i hope.
Just had a look over there i see dancing about between you and mememe ( i think that’s the right poster ) were do you live ? … ( you first ect ect )
Its actually not a bad idea to meet posters in the flesh .
You will see how real they are then.
At present i must leave open the possibility you are both one in the same.
“Dr M didn’t actually start the board” who do you claim did then , and why carry his name ?
It was @nonhebel11 who started the board, see post number one. Sadly he doesn’t seem to post anymore.
I am definitely not the same person as mememe as should have been obvious from our comments about trading/investing.
@Ripley94, you said ‘Good job I do not read the Dr M bb very often these days’ then how do you ‘see dancing about’ between me and @share_123_maiden. You showed interest in ACCSO just two months ago what happened? Retrospectively it’s a ‘stinker’ no point posting about it we all know what happened- some people could have lost a lot of money.
As @share_123_maiden says none of us are going to get it right every time. I find our exchanges quite useful that’s why we ‘talk’ to each other . Can’t see any logical reason why you think we are the same person. Just put us on ‘ignore’ or don’t visit the Dr M board at all .
’ Its was quite suspicious when the bulletin board Founder suddenly no longer posts and others who do claim to know each other say nothing’ - strange comment, some of us only post rarely or may no longer be interested in a particular share. Dr M had some very good ideas which I am still reaping the benefits of I wish he’s stayed.
Let’s be nice to each other life is too short.
Dr M people …( ACSO )
Come on mememe… if you had comprehended my post its obvious my exchange of posts with maiden made me look over there.
“Let’s be nice to each other life is too short.” i very much agree with this .
But lets be fair as well.
Why did you not agree to meet your friend that to me would add up.
I hope you are both genuine.
@Ripley94, is this the Spanish Inquisition what’s it got to do with you who I choose to meet up with?
I could be fake, insincere, bogus or completely ‘genuine’ but you will never know which.
Please put me on ‘ignore’ and don’t read/comment on my posts. I have nothing more to say to you.
mememe…( Dr M )
lol so much for being nice , i would not trust you as far as i could throw you and id advise others to read your posts and see why.
“I hope you are both genuine” i conclude now you are not.