VP Participaties BV Issue of Shares

RNS Number : 9947U

Accsys Technologies PLC

18 July 2018

 

18 July 2018                                                                                                                     AIM: AXS

Euronext Amsterdam: AXS

ACCSYS TECHNOLOGIES PLC ("Accsys")
 

Investment by VP Participaties BV

Accsys, the fast-growing chemical technology group, today announces that VP Participaties BV ("VP Participaties"), the investment company of the Van Puijenbroek family, has agreed to invest €5,732,584 through a subscription of 6,231,070 new ordinary shares of €0.05 each ("Shares") in Accsys at a price of €0.92 per Share (the "Subscription Price").

The additional funding will allow us to develop key new growth markets more quickly including USA and Asia where there is a high level of interest in developing new capacity for our sustainable products Accoya^® and Tricoya^®. It will also enable us to accelerate certain projects to further increase the capacity and efficiency of the Arnhem plant beyond 60,000 cubic metres.

VP Participaties invests in growth companies, particularly those that focus on sustainability and social projects.

The Subscription Price of €0.92 per Share is reflective of the market price and relates to last night's closing price of €0.92 for Accsys' Shares.

Paul Clegg, Chief Executive of Accsys, commented:

"We are delighted to be able to introduce another supportive, long-term investor of the calibre of VP Participaties to our register. As a Company with a strong emphasis on sustainability and social projects, this investment is a strong endorsement of our business and its prospects at this important stage of our development. The funds received will allow us to accelerate some of our exciting plans to expand the business for the future."

Jeroen Heine, Executive of VP Participaties B.V.  commented:

"We are excited by the prospects for our investment in Accsys. We have been impressed by both the technical performance of its products and their sustainable provenance, which is becoming increasingly important in today's world. We are a long-term investor and look forward to supporting the growth of the business at an interesting time of its development."

The Shares will be issued pending receipt of the Subscription Price and admission to AIM and Euronext, which is expected to take place on or about 24 July 2018. Following the issue of the above Shares, the Company will have a total of 117,918,130 Shares in issue.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014. The person responsible for arranging for the release of this Announcement on behalf of Accsys is Angus Dodwell, Legal Counsel & Company Secretary.

ACCSYS TECHNOLOGIES PLC ("Accsys")
 

Investering door VP Participaties BV

Accsys, de snelgroeiende chemische technologiegroep, maakt vandaag bekend dat VP Participaties BV ("VP Participaties"), de inesteringsmaatschappij van de familie Van Puijenbroek, akkoord is gegaan met een belegging van €5,732,584 via het intekenen op 6,231,070 nieuwe gewone aandelen van €0,05 elk ("Aandelen") in Accsys tegen een prijs van €0.92 per Aandeel (de "Uitgifteprijs").

Met deze extra financiering kunnen wij snel belangrijke nieuwe groeimarkten ontwikkelen, waaronder de VS en Azië, waar sprake is van grote belangstelling is voor de ontwikkeling van nieuwe capaciteit voor onze duurzame producten, Accoya^® en Tricoya^®. Het zal ons ook in staat stellen om bepaalde projecten voor het vergroten van de capaciteit en efficiëntie van de vestiging in Arnhem met meer dan 60.000 kubieke meter te versnellen.

VP investeert in groeibedrijven, met name bedrijven die gericht zijn op duurzaamheid en maatschappelijk verantwoorde projecten.

De Uitgifteprijs van €0.92 per aandeel is een afspiegeling van de marktprijs en heeft betrekking op de slotkoers gisteren van €0.92 voor aandelen van Accsys.

Paul Clegg, Algemeen Directeur van Accsys, reageerde als volgt:

"We zijn verheugd om een andere ondersteunende, lange termijn investeerder van het kaliber van VP Participaties aan onze groep van aandeelhouders te kunnen toevoegen. Het is een investeerder met een sterke nadruk op duurzaamheid en maatschappelijk verantwoord ondernemen en deze investering is een sterke bevestiging van ons bedrijf en de vooruitzichten in deze belangrijke fase van onze ontwikkeling. Met deze ontvangen fondsen zullen wij een aantal van onze plannen voor uitbreiding van het bedrijf voor de toekomst sneller kunnen uitvoeren."

Jeroen Heine, directeur van VP Participaties BV gaf de volgende reactie:

"We zijn enthousiast over de vooruitzichten voor onze investering in Accsys. We zijn onder de indruk van de technische prestaties van hun producten en hun duurzame herkomst, wat heden ten dage steeds belangrijker wordt. Wij zijn een lange-termijn belegger en kijken er naar uit om de groei van het bedrijf op een interessant moment voor de ontwikkeling te mogen ondersteunen."

De aandelen zullen worden uitgegeven in afwachting van de ontvangst van de Intekenprijs en de toestemming van AIM en Euronext, wat naar verwachting op of omstreeks 24 juli 2018 zal plaatsvinden. Na de uitgifte van de bovenstaande aandelen zal het bedrijf een totaal van 117,918,130 aandelen in uitgifte hebben.

DEZE AANKONDIGING BEVAT INSIDE-INFORMATIE MET BETREKKING TOT ARTIKEL 7 VAN DE VERORDENING MARKTMISBRUIK EU 596/2014. De persoon die verantwoordelijk is voor het opstellen van deze aankondiging namens Accsys is Angus Dodwell, Juridisch Adviseur & Bedrijfssecretaris.

Ends

For further information, please contact:

Accsys Technologies PLC	Paul Clegg, CEO Will Rudge, FD Hans Pauli, Executive Director, Corporate Development	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 highly sustainable and environmentally 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 naturally occurring '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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