Employee Share Plan

RNS Number : 7456M

Accsys Technologies PLC

22 January 2016

 

AIM: AXS

NYSE Euronext Amsterdam: AXS

22 January 2016

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

Employee Share Plan

Accsys, the chemical technology group focused on the acetylation of wood, announces the issue of a total of 70,224 new ordinary shares of €0.05 each in the Company ("Shares") for the benefit of employees under the terms of the Accsys Employee Share Participation Plan (the "Plan"). These Shares are being issued as follows:

Further to the Company's announcement of 13 January 2015, 53,922 Shares will be issued to various employees on a 'matched' basis at nominal value of €0.05 each. 

In addition, following the release of the Company's Interim Results for the six months ended 30 September 2015, through the Plan, various employees have subscribed for a total of 16,302 Shares at an acquisition price of €0.92 per Share (being the closing price of shares in the Company on 11 December 2015 on Euronext Amsterdam, the closing date for subscriptions of Shares under the Plan). These Shares will be issued to the trust constituted under the Plan and released to employees one year hence subject to and in accordance with Plan rules.

All Shares to be issued as referred to above in respect of the Plan will be issued on or about 26 January 2016, subject to receipt of subscription monies and pending admission of the Shares to AIM and Euronext ("Admission").

Following the issue of all the above Ordinary Shares, the Company will have a total of 89,890,019 Shares in issue.

Ends

For further information, please contact:

Accsys Technologies PLC	Paul Clegg, CEO Hans Pauli, COO Will Rudge, FD	via MHP Communications
Numis Securities	Nominated Adviser: Oliver Cardigan Corporate Broking:  Christopher Wilkinson                              Ben Stoop	[phone]
MHP Communications	Tim Rowntree James White Tess Harris	[phone]
Off the Grid (The Netherlands)	Frank Neervoort Yvonne Derkse	[phone] [phone]

Notes to editors:

Accsys Technologies PLC (www.accsysplc.com) is a chemical technology group 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, an American office in Dallas, Texas (via its subsidiary Titan Wood, Inc) and technology licencing associated with the acetylation of wood elements via its subsidiary Tricoya Technologies Limited. 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. 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^® 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 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^® Wood Elements is carried out through Tricoya Technologies 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 wholly owned subsidiary of TWL with exclusive rights to exploit the Tricoya^® brand.

 

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