leadf
logo-loader
viewAccesso Technology Group PLC

Accesso has firepower to become must-have for theme parks post-the pandemic, says broker

Virtual queuing, advanced online tickets and contactless payments are all possibilities once theme parks re-open

Accesso Technology Group PLC -

 

Accesso Technology PLC’s (LON:ACSO) fundraise gives it the firepower to survive the current theme park lockdowns and cash in when they re-open with new social distancing protocols, says Peel Hunt.

The theme park industry has been discussing recently what measures it needs to introduce to allow them safely to re-open once lockdown restricitions ease.

Virtual queuing, advanced online tickets and contactless payments are all possibilities, says the broker, which would shift accesso’s product set from nice-to-have to essential for a theme park’s survival.

Accesso will raise up to £39mln through the share issues and has set up a new £8mln bank facility.

“Last night’s raise gives us more confidence it will get through the crisis,” said Peel Hunt which has an ‘add’ rating and 265p target price on the shares.

The company said it had sufficient liquidity to support its business until the autumn, but the extra funds will allow it to avoid breaching debt covenants at its June 2020 and September 2020 test dates.

Quick facts: Accesso Technology Group PLC

Price: 380 GBX

LSE:ACSO
Market: LSE
Market Cap: £156.62 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Accesso Technology Group PLC named herein, including the promotion by the Company of Accesso Technology Group PLC in any Content on the Site,...

FOR OUR FULL DISCLAIMER CLICK HERE

Accesso Technology Group expect 'an elastic response' when the vaccine is...

Accesso Technology Group PLC's (LON:ACSO) Steve Brown talks to Proactive London about the rationale behind raising their guidance with revenues for the whole of 2020 comfortably ahead of previous guidance. Brown says 'technology and the operations really go hand in hand as part of the...

3 days, 11 hours ago

2 min read