TIDMAXS
RNS Number : 9493O
Accsys Technologies PLC
12 August 2014
AIM: AXS
NYSE Euronext Amsterdam: AXS
12 August 2014
ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")
Directors' Interests and Accsys Employee Share Participation
Plan
Accsys, the chemical technology group focused on the acetylation
of wood, previously established an Employee Share Participation
Plan (the "Plan") intended to promote the long term growth and
profitability of Accsys by providing employees with an opportunity
to acquire an ownership interest in new ordinary shares in the
Company ("Shares") as an additional benefit of employment.
Under the terms of the Plan, the Company issues Shares to a
trust for the benefit of the subscribing employees with the Shares
to be released to employees after one year, together with an
additional Share on a 1 for 1 matched basis provided the employee
remains in the employment of Accsys at that point in time (the
"Matching Shares"). The Plan is in line with industry approved
employee share plans and is open for subscription by employees
twice a year following release of annual and half yearly financial
results.
Following the Company's announcement on 23 July 2013, a total of
497,854 Shares were issued on 12 August 2013 to this trust for the
benefit of a number of employees under the terms of the Plan.
Subject to all of these beneficiaries remaining employed by Accsys
on 12 August 2014 and pursuant to the Plan, a further 497,854
Shares will (pending admission of the Shares to AIM and Euronext
("Admission")) be issued at nominal value of EUR0.01 each and
released to the employees together with the Shares issued to the
trust last year. This includes Matching Shares to be issued for the
benefit of Hans Pauli and William Rudge, executive directors of the
Company as follows:
Hans Pauli : 17,857
William Rudge : 17,857
In addition, following the release of the Company's Preliminary
Announcement of Results for the year ended 31 March 2014, Accsys
announces that, through the Plan, various employees have subscribed
for a total of 139,125 Shares at an acquisition price of EUR0.23
per Share (being the closing price of shares in the Company on 16
July 2014 on Euronext Amsterdam, the closing date for subscriptions
of Shares under the Plan, the "July Subscription").
The Company also announces that in connection with employee
remuneration and incentivisation arrangements and in respect of the
year ended 31 March 2014, following recommendation from the
nomination and remuneration committee of the Company, the Board has
resolved to issue Ordinary Shares to an Employee Benefit Trust, the
beneficiaries of which include executive Directors.
Such Ordinary Shares shall vest if the employees, including the
executive Directors, remain in employment with the Company to the
vesting date, being 1 July 2015 (subject to certain other
provisions including regulatory, good-leaver, take-over and
committee discretion provisions).
A total of 3,878,018 Ordinary Shares will be issued to the
Employee Benefit Trust, of which 2,366,583 relate to the executive
Directors as set out below:
Name Number of Ordinary Shares
Paul Clegg : 1,511,308
Hans Pauli : 508,500
William Rudge 346,775
All of the above Shares in the Company (in respect of both the
Plan and the Employee Benefit Trust) will be issued pending
admission to trading on AIM and Euronext which is expected to take
place on 18 August 2014.
Following the issue of all the above Shares, the Company will
have a total of 443,734,861 Shares in issue.
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via Blytheweigh
PLC Hans Pauli, COO
Will Rudge, FD
Nominated Adviser: Oliver
Cardigan
Corporate Broking: Christopher
Wilkinson +44 (0) 20 7260
Numis Securities Ben Stoop 1000
+44 (0) 20 7138
3204
+44 (0) 7816 924
626
Tim Blythe +44 (0) 7989 394
Blytheweigh Alex Shilov 027
Frank Neervoort +31 681 734 236
Off the Grid (The Netherlands) Giedo Van Der Zwan +31 624 212 238
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(R) 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, and an
American office in Dallas, Texas (via its subsidiary Titan Wood,
Inc). 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(R) 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(R)
wood and Tricoya(R) wood elements across the globe.
Accoya(R) 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(R) 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(R)
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(R)
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(R) news, visit www.accoya.com/news.asp.
Tricoya(R) 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 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. Exploitation of Accsys' proprietary technology
relating to Tricoya(R) Wood Elements is carried out through Tricoya
Technologies Limited, a joint venture between Accsys and INEOS
Industries Holdings Limited. Tricoya(R) 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(R), TRICOYA(R) 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(R) registered trademark, from Tricoya Technologies
Limited, a joint venture between TWL and INEOS Industries Holdings
Limited with exclusive rights to exploit the Tricoya(R) brand.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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