Access Intelligence loan notes converted

Access Intelligence has announced that both the holders of the £1.25m nominal unsecured convertible redeemable loan notes issued on 30 Jun 2009 and all the holders of the £1.1m nominal five year unsecured convertible redeemable loan notes issued on 8 Dec 2014 have delivered conversion notices.

The 2009 CLNs will convert into 31,250,000 new ordinary shares at a conversion price of 4p apiece.

The 2014 CLNs will convert into 36,666,665 new ordinary shares at a conversion price of 3p each.

Access Intelligence chief executive Joanna Arnold said: 'We are delighted that all the Loan Note holders have converted their holdings of loan notes in to ordinary shares.

'This demonstrates strong support from the company's largest shareholders, improves our balance sheet and removes a significant interest burden from the Company.

'The group has had a strong finish to the financial year with our Vuelio business in November delivering its best monthly performance of the year in terms of net annual contract value growth.

'We are extremely proud of everything the Group has achieved in 2017, and even more excited about the prospects for 2018.

'With our commercial momentum and an innovative product development pipeline, we look forward to continued strong growth and accelerated expansion next year.'