Director Interests and LTIP Awards

Accsys Technologies PLC

28 July 2023

 

AIM: AXS

Euronext Amsterdam: AXS

28 July 2023

Accsys Technologies PLC

("Accsys", the "Group" or the "Company")

Director Interests and Long Term Incentive Plan (LTIP) Awards   

Accsys, the fast-growing and eco-friendly company that combines technology and ingenuity to enhance the properties of wood to create products that are extremely durable and stable, presenting new opportunities for the built environment, today announces that the Remuneration Committee has granted long term incentive awards to various senior employees, including the Chief Executive Officer, Jelena Arsic van Os, and Chief Financial Officer, Steven Salo. The awards have been granted in accordance with the terms of new LTIP plan rules which the Company will be putting to its shareholders for approval at the next AGM, due to be held on 20 September 2023 (the "LTIP Plan Rules").

The awards are nil priced options over a total of 1,306,659 new ordinary shares of €0.05 each in the Company. Of this total, an award over 499,488 shares has been granted to Jelena Arsic van Os, and an award over 271,516 shares to Steven Salo.

The awards will vest three years after grant, subject to the terms of the LTIP Plan Rules, including continued employment of the beneficiaries by the Company and satisfaction of performance targets. Information in relation to the performance conditions is contained in the Directors' Remuneration Report for the year ended 31 March 2023. A two-year holding period applies to the awards granted to Jelena Arsic van Os and Steven Salo following the end of the vesting period.

In addition, Jelena Arsic van Os has been granted an award in accordance with the LTIP Plan Rules in respect of a vested award granted by her former employer which she forfeited in connection with joining the Company (the "Buy-Out Award"). The Buy-Out Award is a nil priced option over 131,557 new ordinary shares of €0.05 each in the Company. Further information in relation to the Buy-Out Award is contained in the Directors' Remuneration Report for the year ended 31 March 2023.

The Directors' Remuneration Report for the year ended 31 March 2023 can be found on page 93 of the Annual Report and Financial Statements covering the same period (see www.accsysplc.com/investors/reports-results/).

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jelena Arsic van Os
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer
a)	Name	Accsys Technologies PLC
b)	LEI code	213800HKRFK8PNUNV581
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of €0.05 each
	Identification code	ISIN GB00BQQFX454
b)	Nature of the transaction	Grant of LTIP Options over Ordinary Shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 499,488
d)	Aggregated information - Aggregated volume - Price	Not applicable - single transaction
e)	Date of the transaction	27 July 2023
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Steven Salo
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer
a)	Name	Accsys Technologies PLC
b)	LEI code	213800HKRFK8PNUNV581
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of €0.05 each
	Identification code	ISIN GB00BQQFX454
b)	Nature of the transaction	Grant of LTIP Options over Ordinary Shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 271,516
d)	Aggregated information - Aggregated volume - Price	Not applicable - single transaction
e)	Date of the transaction	27 July 2023
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jelena Arsic van Os
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer
a)	Name	Accsys Technologies PLC
b)	LEI code	213800HKRFK8PNUNV581
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of €0.05 each
	Identification code	ISIN GB00BQQFX454
b)	Nature of the transaction	Grant of an option to replace incentive pay forfeited by the executive on leaving her previous employment.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 131,557
d)	Aggregated information - Aggregated volume - Price	Not applicable - single transaction
e)	Date of the transaction	27 July 2023
f)	Place of the transaction	Outside of a trading venue

Ends

For further information, please contact:

Accsys Technologies PLC Katharine Rycroft, Head of Investor Relations	[phone]
Numis Securities (London) Oliver Hardy (NOMAD), Ben Stoop	[phone]
Investec Bank plc (London) Carlton Nelson, Alex Wright ABN Amro (Amsterdam) Richard van Etten, Dennis van Helmond	[phone] [phone]
FTI Consulting (UK) Matthew O'Keeffe, Alex Le May	[phone]
Huijskens Sassen Communications (The Netherlands) Clemens Sassen	[phone]

Notes to editors:

Accsys (Accsys Technologies PLC) is a fast-growing business with a purpose: changing wood to change the world. The company combines chemistry, technology and ingenuity to make Accoya wood and Tricoya wood elements:  high performance wood products that are extremely durable and stable, opening new opportunities for the built environment and giving the world a choice to build sustainably. Accsys transforms fast-growing, certified sustainable wood into building materials with an up to 50-year warranty, locking carbon stored in the wood into useful products for decades, with performance characteristics that match or better those of non-renewable, resource-depleting and polluting alternatives.  Accsys is listed on the London Stock Exchange AIM market and on Euronext Amsterdam, under the symbols 'AXS'.  Visit www.accsysplc.com 

Accoya solid wood is sustainable, durable, and stable with exceptional performance, finish and sustainability. Accsys' proprietary acetylation process makes the wood more dimensionally stable and because it is no longer easily digestible, extremely durable. It is one of very few building materials to be Cradle to Cradle Certified™ at the Gold level, with a Platinum rating for Material Health, confirming that no harmful or toxic additives or chemicals are present to leach out into the environment. Primary applications for Accoya wood include windows, doors, cladding and decking, where the combination of performance and sustainability benefits compete favorably against hardwoods, plastics, metals and concrete. Visit www.accoya.com

Tricoya acetylated wood elements are produced for use in the fabrication of panel products such as medium density fibreboard (MDF). Panel products made with Tricoya wood elements are truly durable and stable enough for use outdoors and in wet environments, unlocking new possibilities for design and construction. They have been lauded as the first major innovation in the wood composites industry in more than 30 years and bring the flexibility of traditional panel products and sustainability benefits of wood to a whole new range of applications. Visit www.tricoya.com

Any references in this announcement to agreements with Accsys shall mean agreements with either Accsys or its subsidiary entities unless otherwise specified. 'Accsys' and 'Accsys Technologies' are trading names of Titan Wood Limited ("TWL"), a wholly-owned subsidiary of Accsys Technologies PLC. Accoya, Tricoya and the Trimarque Device are registered trademarks owned by TWL, and may not be used or reproduced without written permission from TWL, or in the case of the Tricoya registered brand trademark, from Tricoya Technologies Limited, a subsidiary of TWL with exclusive rights to exploit the Tricoya brand.

 

END