Good morning, it's Paul here.

Estimated time of completion - about 3pm.  Update at 14:28 - I can't find anything interesting to write about, and want to give some support to Ed & the Stockopedia team on the their stand at Mello, so will sign off early for today. Therefore this report is now finished, sorry it's a bit half-arsed.

It was great to chat to many subscribers at yesterday's Mello Investor Show. I'm walking wounded today, so probably won't be going back for seconds today (OK - some time later - retrospectively that didn't work out quite as planned) 



accesso Technology (LON:ACSO)

Share price:  590p (up 13% today, at 11:40)
No. shares:  27.6m
Market cap:  £162.8m

Further update on the formal sale process

accesso Technology Group plc (AIM: ASCO), the premier technology solutions provider to leisure, entertainment, hospitality, attractions and cultural markets, provides the following update on its announced formal sale process (the "Formal Sale Process") under the City Code on Takeovers and Mergers (the "Code") which remains ongoing.

There's been a 13% bounce in share price today, alleviating some of the suffering for beleaguered shareholders, who've seen their investment drop by about 80% from the peak. Amazingly, in the last year, it's scrubbed off all the previous gains since 2013. Which begs the question, was the surge to almost 3000p share largely a speculative momentum-driven bubble? It looks that way to me.

The sale process seems to still be active, so today's announcement is being seen as having increased the chances of a takeover bid;

Following receipt of a certain number of refreshed indications of interest over the last several months, the Company and its advisers are continuing to engage in discussions with several parties to determine whether a potential offer for the Company can be delivered at a value that the Board considers attractive to shareholders.

The interested parties remain engaged in financial and operational due diligence


Due diligence normally only occurs when there is serious bid interest. That's because it's expensive to send in teams of accountants & lawyers.  Or sometimes, it can be a good excuse for a competitor to run their eyes over the detailed figures that they wouldn't otherwise be able to see.

My opinion - Accesso is extremely difficult (impossible?) to value, because the…

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