Issuance of Shares

RNS Number : 0858Q

Accsys Technologies PLC

15 February 2019

 

 15 February 2019                                                                                                                    AIM: AXS

Euronext Amsterdam: AXS

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

Issuance of Shares

Accsys, the fast growing and sustainable chemical technology group, announces the issue of 70,175 new ordinary shares of €0.05 each in the Company ("Shares") to the Company's Employee Benefit Trust ("EBT"). 

These Shares have been conditionally issued and allotted following the vesting in August 2016 and recent exercise of nil cost options, granted in 2013 under the Company's 2013 Long Term Incentive Plan. Once issued, the Shares are expected to be transferred from the EBT to the beneficiary, a member of the Company's senior management team, with subsequent transfer into an Investment Savings Account, following sale of 28,070 Shares to account for tax liabilities.

The Shares will be issued pending (amongst other things) admission to AIM and Euronext Amsterdam, which is expected to take place on or about 18 February 2019. Following the issue of the above Shares, the Company will have a total of 117,988,305 Shares in issue.

ACCSYS TECHNOLOGIES PLC 
("Accsys" of "de Vennootschap")

Uitgifte van Aandelen

Accsys, de snelgroeiende en duurzame chemische technologiegroep, kondigt de uitgifte aan van 70.175 nieuwe, gewone aandelen in de Vennootschap ("Aandelen") van € 0,05 per aandeel aan het Employee Benefit Trust ("EBT") van de Vennootschap.

Deze aandelen zijn onder voorwaarden uitgegeven en toebedeeld, na het vrijvallen in augustus 2016 en recente uitoefening van de nil cost opties, die zijn toegewezen in 2013 als onderdeel van het lange termijn incentive plan van de organisatie. Eenmaal uitgegeven, is de verwachting dat de aandelen zullen worden overgedragen van de EBT aan de begunstigde, een lid van het senior management team van de vennootschap, die deze aandelen vervolgens zal doorzetten naar een beleggingsspaarrekening, na de verkoop van 28.070 Aandelen om de belastingplicht af te dekken.

De Aandelen zullen worden uitgegeven na (onder andere) toelating tot de AIM en Euronext Amsterdam. Dit zal naar verwachting plaatsvinden op of rond 18 februari 2019. Na de uitgifte van de hiervoor genoemde Aandelen beschikt de Vennootschap over in totaal 117.988.305 uitgegeven Aandelen.

Ends

For further information, please contact:

Accsys Technologies PLC	Paul Clegg, CEO Will Rudge, FD	via MHP Communications
Numis Securities	Nominated Adviser:  Jamie Lillywhite Corporate Broking:   Christopher Wilkinson                                  Ben Stoop	[phone]
MHP Communications	Tim Rowntree Kelsey Traynor	[phone]
Off the Grid (The Netherlands)	Frank Neervoort Yvonne Derske	[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 Tricoya^® 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^® wood production; (ii) building and operating of Tricoya^® 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^® 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. Moreover, the Accoya^® wood production process does not compromise the wood's strength or machinability. The combination of 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.

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 subsidiary of TWL with exclusive rights to exploit the Tricoya^® brand.

 

END

 

 

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