(Alliance News) - Accesso Technology Group PLC on Wednesday said it has decided to embark on a formal sale process following the receipt of approaches from a number of parties.
The entertainment technology provider said this is the most appropriate mechanism, for a UK-listed company, to determine whether or not this high level of inbound interest will translate into an offer or offers on terms which it is prepared to recommend to its shareholders.
Accesso said it appointed KeyBanc Capital Markets Inc as its financial adviser with regards to the formal sale process and Canaccord Genuity Ltd as independent financial adviser for the same purpose.
Accesso said any party wishing to participate in the sale process will be required to enter into a non-disclosure agreement before being permitted to participate in the process.
Following execution of such an agreement, it intends to provide interested parties with information on Accesso, following which, such parties will be invited to submit proposals to the company.
Accesso shares were trading 46% higher in London on Wednesday at 1,100.00 pence each.
Accesso Technology Group (ACSO)