Actual Experience plc: Capital Raise of £10 million

N+1 Singer are delighted to have acted as Nominated Adviser, Sole Broker and Sole Bookrunner to Actual Experience plc on their Capital Raise of approximately £4.97 million through a Placing of 4,730,672 Placing Shares as well as conditionally raising approximately £5.03 million through a Conditional Placing of 4,793,138 Placing Shares, both at an Issue Price of 105 pence per share.

The Issue Price is at a discount of approximately 13.9 per cent to the mid-market closing price of an existing ordinary share of 122.0 pence on 20 January 2021, the last practicable date prior to the announcement of the Placing. The Placing was conducted through an Accelerated Bookbuilding process.

The Company intends to use the proceeds of the Placing to:

  • Expand its sales and support teams in response to the expanding pipeline of sales prospects, and smoothly on-board the Company’s new partners.
  • Expand the Company’s technology development team to facilitate the development of enhanced cloud efficiency and scalability, as well as increased automation of report generation for the Professional Services engagements.
  • Fund general working capital requirements and strengthen the Company’s balance sheet.

Dave Page, CEO of Actual Experience plc, commented:

“We are delighted to have successfully completed this fundraise. We are thankful for the strong support shown by new and existing investors and it is particularly pleasing to welcome new shareholders to the register at this exciting time for Actual Experience.

In the face of COVID-19, businesses have had to adapt their working practices to involve remote working and new digital collaboration technologies. Because of this, we have seen increased traction from our Channel Partners providing us with increased sales opportunities. The proceeds of the fundraise will allow us to expand our sales and support teams in response to the growing pipeline of sales prospects, and smoothly on-board the Company’s new partners. Part of the Placing proceeds will also be deployed to expand the Company’s technology development team to facilitate the development of enhanced cloud efficiency and scalability, as well as increased automation of report generation for the Professional Service engagements.

The Board remains confident and focused in the future growth prospects of Actual Experience and the emerging promise of the pivot towards Professional Services. We are committed to delivering great value for our shareholders and look forward to providing further updates in due course.”

About Actual Experience plc

Actual Experience’s goal is to significantly improve the performance of the digital world. The Company enables its partners to optimise their customers’ digital ecosystem to increase productivity and enhance brand experiences through Human Experience Management.

Developed from 10 years of patented academic research and three patents, the Company’s Human Experience Management Services analyse the human experience of any digital service. The Company’s service provides organisations with actionable information whereby changes to the digital ecosystem can be made to optimise and improve digital experience for customers and employees

Ticker: ACT
Market Cap: £58.14 million*
Website: Click here

*As at 21/01/2021

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