Board Changes
Updated : 07:05
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 |
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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) |
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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
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| +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
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Numis Securities Limited (Joint Broker) Simon Willis, Mark Lander |
| +44 (0)20 7260 1000 |
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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) |
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d) | Aggregated information: ·Aggregated volume ·Price |
See 4c) above | ||||
e) | Date of the transaction | 27 January 2020 | ||||
f) | Place of the transaction | Off exchange | ||||
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