Director/PDMR Shareholding

RNS Number : 9109U

Accsys Technologies PLC

03 January 2012

 



AIM: AXS

NYSE Euronext Amsterdam: AXS

3 January 2012

ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")

Directors and Persons Discharging Managerial Responsibilities' Interests

Accsys, the environmental science and wood technology company, announces in compliance with the AIM Rules and Disclosure and Transparency Rulesthat all 2,500,000 ordinary shares of €0.01 in the Company ("Ordinary Shares") held by the Accsys Employee Benefit Trust ('EBT')  (established in February 2011) vested on 31 December 2011 and have been released to the beneficiaries of the EBT, being those executive directors and certain persons discharging managerial responsibilities whose names are set out below (the "Beneficiaries").

As announced on 4^th February 2011, such Ordinary Shares were issued to the EBT in connection with employee remuneration and incentivisation arrangements and vest upon payment by the Beneficiaries of the nominal value of €0.01 per Ordinary Share. The market value of the Ordinary Shares at the date of vesting was €0.11 per Ordinary Share.

Certain individuals subsequently elected to immediately sell a number of shares on the open market for the reasons set out below. These shares were sold at price of €0.1175 per Ordinary Share.

Name                           Number of Ordinary                 Number of Ordinary                

Shares Vested                        Shares subsequently

                                                sold on open market               Note

Paul Clegg                     750,000                                     Nil                                             (i)

Hans Pauli                     500,000                                     299,410                                     (ii)

Edward Pratt                  250,000                                     Nil

Michel Maes                   250,000                                     250,000                                     (ii)

Hal Stebbins                  250,000                                     Nil

William Rudge                250,000                                     117,803                                     (iii)

Angus Dodwell               250,000                                     117,803                                     (iv)

Notes:

(i)         Shares will be sold and immediately repurchased by Individual Savings Account ('ISA') in the name of the individual.

(ii)        Shares have been sold to allow proceeds to be invested in personal pension fund.

(iii)       Shares sold to pay for nominal value and resulting personal tax liability.

(iv)       Shares sold to pay for nominal value and resulting personal tax liability. Balance of shares will be sold and immediately repurchased by ISA in the name of the individual.

Ends

For further information, please contact:

Accsys Technologies PLC		Paul Clegg, CEO Hans Pauli, CFO		via Citigate Dewe Rogerson
Numis Securities		Nominated Adviser: Oliver Cardigan Corporate Broking:  Christopher Wilkinson                             Ben Stoop		[phone]
Citigate Dewe Rogerson		Chris Gardner 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 100% owned subsidiary, Titan Wood Limited, which has manufacturing operations in Arnhem, the Netherlands, a European office in London and an American office in Dallas, Texas. 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) the Accoya^® wood production facility; (ii) technology development, focused on a programme of continuous improvements to the process engineering and operating protocols for the acetylation of wood which are currently under development 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.

Wood Acetylation is a process which increases the amount of 'acetyl' molecules in wood, thereby changing its physical properties. The 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.

Accoya^® wood (www.accoya.com) is produced using a process, the subject of patent applications around the world, 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) is Titan Wood's 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. Tricoya^® Wood Elements is lauded as the first major innovation in the wood composites industry in more than 30 years.

 

END

 

 

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