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Access Intelligence

  • BY: Andrew Hore |
  • POSTED: 28/12/2016 |

Software-as-a-Service (SaaS) risk management products provider Access Intelligence has extended its convertible loan notes.

There are still £1.25m of convertibles owned by Elderstreet and Unicorn. These are convertible at 4p a share - the current share price is 4.63p(4.5p/4.75p).

The convertibles were due to be redeemed at the end of 2016 but the redemption has been changed to the end of 2017.

In the six months to May 2016, revenues from continuing activities jumped from £2.02m to £5.54m, 93% recurring, but the underlying loss increased. There was some organic growth but most of the increase in revenues came from acquisitions. Net debt was £727,000.

Kestrel has taken its stake above 17%.

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