Access Intelligence - Pulsar update
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Upon the publication of this announcement, the inside information is now considered to be in the public domain for the purposes of MAR.
Completion of Pulsar Accounting Review
Further to the announcement on
Following completion of the BDO review, an adjustment of the previously disclosed unaudited financial results for Pulsar is required. Post this adjustment, for the year to
Pursuant to the terms of the sale and purchase agreement signed on
In full and final settlement of any dispute under the Agreement regarding the appropriate valuation of the business, Cello Health has agreed that 4,076,238 of the consideration shares will be sold back to
The post-acquisition contribution of Pulsar to
This outcome of the financial analysis has no impact on the rationale for the Pulsar acquisition which is in line with a strategic ambition to strengthen capabilities in social media analysis, audience segmentation and social media marketing evaluation. Recurring revenues with Pulsar are around 70% of total revenue.
Related Party Transaction
Cello is a related party of the Company for the purposes of the AIM Rules by virtue of their status as substantial shareholders holding 10% or more or more of the Company's existing ordinary share capital.
The Board consider, having consulted with the Company's nominated adviser, finnCap, that the settlement with Cello set out above is fair and reasonable insofar as the Company's shareholders are concerned.
Commenting on the resolution of this matter,
"Due to Cello Health's proactive engagement, we are pleased to have reached a swift and satisfactory resolution. The rationale for the acquisition remains unchanged and we look forward to growing the business as part of the
For further information:
Joanna Arnold (CEO) / Mark Fautley (CFO)
finnCap Limited (Nominated Adviser and Broker) 020 7220 0500
Corporate Finance - Marc Milmo / Kate Bannatyne / Matthew Radley / Kate Washington
Corporate Broking -
About Access Intelligence
The expanding portfolio includes Vuelio, the platform that helps organisations make their stories matter; ResponseSource, a network that connects media and influencers to the resources they need, fast; and Pulsar, an audience insights and social listening platform.
This information is provided by RNS, the news service of the
Quick facts: Access Intelligence Group
Market Cap: £39.7 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE