Actual Experience Targets GBP3 Million Fundraise To Expand Sales

(Alliance News) - Actual Experience PLC proposed after the market close Friday to raise GBP3 ...

Alliance News 12 July, 2019 | 5:41PM
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(Alliance News) - Actual Experience PLC proposed after the market close Friday to raise GBP3 million through a share placing of at least 135 pence per share in order to expand sales and strengthen its balance sheet.

Shares in the analytics firm closed 3.0% higher at 170.00p in London on Friday, giving it a market capitalisation of GBP76 million.

"The success of our first two large scale deployments implemented in 2018 has given our respective Channel Partners the confidence to commit dedicated resources for the first time, which has led to a new pipeline of further opportunities," Chief Officer Dave Page said.

"The first of this new pipeline converted into revenue as announced with our 'Land & Expand' announcements in May 2019."

"Along with this momentum, Vodafone announced the successful evaluation of our software to be built-in to hardware," Page added. "If we execute together successfully, this will provide the potential to deliver digital quality to all sites and all customers of Vodafone. In addition, we are in active discussion with major new potential partners."

"These additional funds will enable us to invest in additional sales resources alongside our existing partners to complement their increasing engagement, whilst making the most of the opportunity that our potential new partners and the built-in to hardware model presents", Page continued.

By Ahren Lester; ahrenlester@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Actual Experience PLC 110.00 GBX -12.00 -
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