Accesso Technology - open offer

[Bouleversee]

Is anyone else daft enough to hold Accesso Technology who are doing an open offer following a recent placing @ £2.90 which raised GBP 32.9m Private shareholders' entitlement is I new Ordinary Share for every 13 held @£2.90 but they can apply for more which rather suggests that either the original placing didn't raise as much as required or that even more dosh is required to shore up the company than originally envisaged. The current share price is £3.80 to buy but whether it will remain that high remains to be seen.

I can't get my fogged brain round this. IWeb are showing the new shares (my basic entitlement is only 8 shares) as having an average cost of 1.00p, book cost of £0.08, latest ;rice 1.00p and a valuation of £0.08. How this tallies with the price of £2.90 and my cost of £23.20 (if I were to take up the basic entitlement) is beyond me.

I bought my 108 shares at a price of 1844.63p in September 2017 so am losing nearly 80% of my investment and I don't think there have been any dividends during this period, though haven't checked. The entitlement cost is negligible but is there any point in applying for any more? They were struggling long before Covid-19 cropped up and I fear it may be a case of throwing good money after bad. I wonder if those who bought in the placing are hoping to make a quick buck out of mugs like me. I wish I could remember who tipped it.

[GrahamPlatt]

Might be worth holding onto. There could be a big contract coming from the UK parliament soon...

[Bouleversee]

Might be worth holding onto. There could be a big contract coming from the UK parliament soon...

For their voting system? Can't think that would be worth much.

I used to see Accesso cropping up in the days of TMF but presumably everyone else got out while the going was good. Still sitting on the fence but must decide tonight. I haven't seen any press comment about it.

[GrahamPlatt]

Yes, I was joking. But thinking about it, what with “social distancing” likely to be in vogue for the foreseeable future, there might be some mileage here.

[Bouleversee]

There is certainly plenty of scope now that theme parks etc. are reopening, if they don't get beaten to it by competition, but I think it will be some time before there is much increase in travel. I don't know why they dropped so much since I bought. The s.p. had dropped a lot before Covid-19 came on the scene. I only had £2k in, most of which is down the pan on paper so might risk a bit more though past history shows that doesn't always pay off.

[Lootman]

I wish I could remember who tipped it.

I used to see Accesso cropping up in the days of TMF but presumably everyone else got out while the going was good.

There were two or three folks over on TMF who used to pump and dump shares, and particularly AIM shares like this one, Crawshaw, Silverdell and Indigo Vision. Two of those went to zero.

I got seduced by a couple of them myself. The AIM successes I have had out-weighed those losses but i picked those myself.

It is perhaps significant that those on TMF who pumped these dogs didn't migrate over here. Don't blame them. They were talking up their own book in my view. No names mentioned of course. But they know who they are and a few folks here do as well.

I sold Accesso last year. Enough already.

[Bouleversee]

Lootman said:

"I sold Accesso last year. Enough already."

So do you know why their s.p. went down so much last year? And if you still held, would you be buying more in the open offer now?

[Lootman]

Lootman said:

"I sold Accesso last year. Enough already."

So do you know why their s.p. went down so much last year? And if you still held, would you be buying more in the open offer now?

No, don't hold and no.

[Bouleversee]

After seeing the ridiculous queues of MPs waiting to vote (what will they do when it rains?) , I have suggested to my MP that they should look at Accesso. LOL.

AIM shares are certainly a good way of saving IHT since they often lose all your money. Since they often don't pay dividends, you might just as well give it away and hope to live 7 yrs. I think Sunak will remove the concession anyway.

[AndyPandy]

I wish I could remember who tipped it.

I used to see Accesso cropping up in the days of TMF but presumably everyone else got out while the going was good.

There were two or three folks over on TMF who used to pump and dump shares, and particularly AIM shares like this one, Crawshaw, Silverdell and Indigo Vision. Two of those went to zero.

I got seduced by a couple of them myself. The AIM successes I have had out-weighed those losses but i picked those myself.

It is perhaps significant that those on TMF who pumped these dogs didn't migrate over here. Don't blame them. They were talking up their own book in my view. No names mentioned of course. But they know who they are and a few folks here do as well.

I sold Accesso last year. Enough already.

LOQ, as it was then, remains my only 1-bagger to date (I'm not good at buy and hold). LOQ was consistently touted by one person from the clique in particular and for that I was/am grateful as eventually I succumbed. Its product was a good idea at the time. Perhaps still is, but with the rise of Apps, it may have lost its edge and I've not followed it to know why it's dropped of a cliff.

I could have done a lot better if I hadn't sold so early, even with recent drops. David must have done well out of it.

I wish I could remember who tipped it.

I'm sure the information is available on the Wayback machine, but if it helps, he was married to Carmen

[Bouleversee]

Actually, come to think of it, I think it might have been one of John Lee's holdings at one point, no doubt got rid of long ago.