Accsys Technologies PLC Employee Share Participation Plan (9552B)
04 Febbraio 2020 - 4:46PM
UK Regulatory
TIDMAXS
RNS Number : 9552B
Accsys Technologies PLC
04 February 2020
AIM: AXS
Euronext Amsterdam: AXS
4 February 2020
Accsys Technologies PLC
("Accsys", the "Group" or the "Company")
Accsys Employee Share Participation Plan
Accsys, the fast-growing and eco-friendly company that combines
chemistry and technology to create high performance, sustainable
wood building products, announces the issue of new ordinary shares
of EUR0.05 each in the Company ("Shares") to employees in relation
to employee incentivisation and share plan arrangements.
The Company previously established an Employee Share
Participation Plan (the "Plan") intended to promote the long term
growth and profitability of Accsys by providing employees with an
opportunity to acquire an ownership interest in Shares as an
additional benefit of employment. Under the terms of the Plan, the
Company issues Shares to a trust for the benefit of the subscribing
employees with the Shares to be released to employees after one
year, together with an additional Share on a 1 for 1 matched basis
provided the employee remains in the employment of Accsys at that
point in time (the "Matching Shares").
Pursuant to the terms of the Plan, various employees have
subscribed for a total of 204,612 Shares at an acquisition price of
EUR1.095 per Share, being the closing price of Shares in the
Company on 12 December 2019 on Euronext Amsterdam, the closing date
for subscriptions under the Plan.
The Shares in the Company will be issued pending admission to
trading on AIM and Euronext which is expected to take place on 5
February 2020 ("Admission").
The total number of issued Shares following Admission will be
162,288,155 Shares. The Company does not hold any shares in
treasury. Therefore, the total voting rights in the Company
following Admission will be 162,288,155. This figure may be used by
shareholders as the denominator for the calculations by which they
may determine if they are required to notify their interest in, or
a change to their interest in, the Company's securities under the
FCA's Disclosure Guidance and Transparency Rules.
Ends
For further information, please contact:
Accsys Technologies Robert Harris, CEO via FTI Consulting
PLC William Rudge, FD
Numis Securities Limited
-Nominated Adviser Oliver Hardy (NOMAD)
and Ben Stoop
Joint Broker Oliver Cox +44 (0) 20 7260 1000
Carlton Nelson
Investec Bank plc - James Rudd
Joint Broker Alex Wright +44 (0) 20 7597 5970
Matthew O'Keeffe
FTI Consulting Alex Le May +44 (0) 20 3727 1340
Frank Neervoort +31 681 734 236
Off the Grid (The Netherlands) Giedo Van Der Zwan +31 624 212 238
Notes to editors:
Accsys Technologies PLC (www.accsysplc.com) is a chemical
technology group whose primary focus is on the production of
Accoya(R) wood and Tricoya(R) wood elements, technology licensing
via its subsidiary, Titan Wood Limited, which has manufacturing
operations in Arnhem, the Netherlands (through its subsidiary Titan
Wood B.V.), a European office in London, United Kingdom, an
American office in Dallas, Texas (via its subsidiary Titan Wood,
Inc.) and technology licensing associated with the acetylation of
wood elements via its subsidiary Tricoya Technologies Limited. Any
references in this announcement to agreements with Accsys shall
mean agreements with either Accsys or its subsidiary entities
unless otherwise specified. Accsys Technologies PLC is listed on
the London Stock Exchange AIM market and on Euronext Amsterdam,
under the symbols 'AXS'. Accsys' operations comprise four principal
business units: (i) Accoya(R) wood production; (ii) building and
operating of Tricoya(R) wood chip acetylation plant in Hull; (iii)
technology development, focused on a programme of continuous
development of and improvements to the process engineering and
operating protocols for the acetylation of solid wood and the
development of technology for the acetylation of wood elements; and
(iv) the licensing of technology for the production of Accoya(R)
wood and Tricoya(R) wood elements across the globe.
Tricoya(R) Consortium In March 2017, Accsys announced the
formation of the Tricoya(R) Consortium to fund, build and operate
the Tricoya(R) plant in Hull, UK. Members of the consortium include
BP and the leading manufacturer of sustainable wood-based panels,
MEDITE Europe DAC. Tricoya Ventures UK Ltd (TVUK), a subsidiary of
Accsys, owns and will operate the Tricoya(R) plant. TTL exploits
all Tricoya(R) related intellectual property and benefits from any
Tricoya(R) related revenues other than those generated by the
Tricoya(R) plant. The Tricoya(R) plant is expected to have an
initial capacity of 30,000 metric tonnes of Tricoya(R) chips per
annum, enough to produce approximately 40,000m(3) of Tricoya(R)
panel products per annum. The Tricoya(R) plant is expected to reach
EBITDA breakeven at approximately 40% design capacity and to take
approximately four years to reach full capacity following
completion. The location of the Tricoya(R) plant at Saltend
Chemicals Park in Hull allows for expansion when market conditions
dictate.
Accoya(R) Wood (www.accoya.com) is produced using Accsys'
proprietary patented acetylation technology that effectively
converts sustainably grown softwoods and non-durable hardwoods into
what is best described as a "high technology wood". Distinguished
by its durability, dimensional stability and, perhaps most
importantly of all, its reliability (in terms of consistency of
both supply and quality), Accoya(R) wood is particularly suited to
exterior applications where performance and appearance are valued.
Moreover, the Accoya(R) wood production process does not compromise
the wood's strength or machinability. The combination of
dimensional stability, durability and retained strength means that
Accoya(R) wood offers a wealth of new opportunities to architects,
designers and specifiers. These benefits result in lower
maintenance and total cost of ownership while using a higher
sustainable and environmental responsible building material. For a
full archive of Accoya(R) news, visit www.accoya.com/news.
Tricoya(R) Wood Elements (www.tricoya.com) are produced using
Accsys' proprietary technology for the acetylation of wood chips
and particles for use in the fabrication of panel products such as
medium density fibreboard and particle-board. These products
demonstrate enhanced durability and dimensional stability which
allow them to be used in a variety of applications that were once
limited to solid wood or man-made products. Exploitation of Accsys'
proprietary technology relating to Tricoya(R) Wood Elements is
carried out through Tricoya Technologies Limited. Tricoya(R) Wood
Elements are lauded as the first major innovation in the wood
composites industry in more than 30 years.
Wood Acetylation is a process which increases the amount of
'acetyl' molecules in wood, thereby changing its physical
properties. When carried out to a sufficient level throughout the
wood, this process protects wood from rot by making it "inedible"
to most micro-organisms and fungi, without - unlike conventional
treatments - making it toxic. It also greatly reduces the wood's
tendency to swell and shrink, making it less prone to cracking and
ensuring that, when painted, it requires dramatically reduced
maintenance.
'Accsys' and 'AccsysTechnologies'aretrading names of Titan Wood
Limited. ACCOYA(R) , TRICOYA(R) and the Trimarque Device are
registered trademarks owned by Titan Wood Limited ("TWL"), a wholly
owned subsidiary of Accsys Technologies PLC, and may not be used or
reproduced without written permission from TWL, or in the case of
the Tricoya(R) registered trademark, from Tricoya Technologies
Limited, a subsidiary of TWL with exclusive rights to exploit the
Tricoya(R) brand.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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