Accsys Employee Share Participation Plan

RNS Number : 6664V

Accsys Technologies PLC

16 January 2013

 



AIM: AXS

NYSE Euronext Amsterdam: AXS

16 January 2013

ACCSYS TECHNOLOGIES PLC

("Accsys" or the "Company")

Accsys Employee Share Participation Plan

Accsys, the environmental science and wood technology company, previously announced on 1 August 2011 the establishment of 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 new ordinary shares in the Company ("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 (the "Trust") 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 Plan is in line with industry approved employee share plans and is open for subscription by employees twice a year following release of annual and half yearly financial results.

A total of 130,831 Shares were issued in January 2012 to the Trust to be held on behalf of a number of employees under the terms of the Plan. As at the date hereof, all of these employees have remained with Accsys and accordingly and pursuant to the Plan, a further 130,831 Shares will (pending admission of the Shares to AIM and Euronext ("Admission") expected on 23 January 2013) now be issued at nominal value of €0.01 each and released to the employees together with the Shares issued to the Trust last year.

Taking into account the Shares issued in January 2012 and the Matching Shares issued pending Admission, a total of 261,662 Shares have now vested with employees.

In addition, Accsys announces that, during the latest subscription period under Plan that followed the release of Accsys' interim financial results on 21 November 2012, various employees have subscribed for a total of 369,423 further Shares at an acquisition price of €0.14 per Share (being the closing price of shares in the Company on 4 December 2012 on Euronext Amsterdam, the closing date for subscriptions of Shares under the Plan, the "December Subscription"). This includes a subscription by Hans Pauli for an additional 17,857 Shares.

All Shares will be issued to the Trust pursuant to the December Subscription pending Admission which is expected to take place on or shortly after 18 January 2013.

Following the issue of all the above Shares, the Company will have a total of 433,171,589 Shares in issue.

Ends

For further information, please contact:

Accsys Technologies PLC	Paul Clegg, CEO Hans Pauli, COO Will Rudge, FD	via Citigate Dewe Rogerson
Numis Securities	Nominated Adviser: Oliver Cardigan Corporate Broking:  Christopher Wilkinson                              Ben Stoop	[phone]
Citigate Dewe Rogerson	Ginny Pulbrook Malcolm Robertson Suzanne Bakker	[phone] [phone] [phone]

Notes to editors:

Accsys Technologies PLC(www.accsysplc.com) is an environmental science and technology company whose primary focus is on the production of Accoya^® wood and 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 Windsor, United Kingdom, and an American office in Dallas, Texas (via its subsidiary Titan Wood, Inc). All group subsidiaries are ultimately 100% owned by Accsys and trade as Accsys Technologies.  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 by NYSE Euronext, under the symbols 'AXS'. Accsys' operations comprise three principal business units: (i) Accoya^® wood production; (ii) 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 (iii) the licensing of technology for the production of Accoya^® wood and Tricoya^® wood elements across the globe.

Accoya^® 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^® wood is particularly suited to exterior applications where performance and appearance are valued. Unlike most tropical and European hardwoods, its colour does not degrade when exposed to ultraviolet light. Moreover, the Accoya^® wood production process does not compromise the wood's strength or machinability. The combination of UV resistance, dimensional stability, durability and retained strength means that Accoya^® wood offers a wealth of new opportunities to architects, designers and specifiers. For marine uses where weight is also important, Accoya^® wood for the first time provides boat builders with a wood that is strong, lightweight, durable and retains its natural beauty for far longer.  For a full archive of Accoya^® news, visit www.accoya.com/news.asp.

Tricoya^® 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 wood based composites, including panel products. These composites 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® Wood Elements is carried out through Tricoya Technologies Limited, a joint venture between Accsys and INEOS Industries Holdings Limited.  Tricoya® 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 Technologies is the trading name of Titan Wood Limited. ACCOYA®, TRICOYA® 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® registered trademark, from Tricoya Technologies Limited, a joint venture between TWL and INEOS Industries Holdings Limited with exclusive rights to exploit the Tricoya® brand.

 

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