Accsys Technologies PLC AGM Correction Statement (6310B)
September 24 2018 - 1:01AM
UK Regulatory
TIDMAXS
RNS Number : 6310B
Accsys Technologies PLC
24 September 2018
AIM: AXS
Euronext Amsterdam: AXS
24 September 2018
ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")
Correction to Annual General Meeting Statement
Accsys issues a correction to the statement issued on 18
September 2018 in advance of its Annual General Meeting.
The correct total revenue for the five months to 31 August 2018
is EUR25.6m (2017: EUR24.3m) (unaudited), not EUR26.7m as
previously reported. This difference is due to minor corrections to
the accounting for intercompany transactions and has no impact on
profit. All other aspects of the AGM statement, including the
increase in production volume, are correct and remain
unchanged.
Accsys remains confident of meeting its full year expectations
given the growth in the remainder of its financial year is driven
primarily by the substantial increase in production and sales
expected following the successful commissioning of the third
Accoya(R) reactor in Arnhem during the period and with demand
continuing to exceed current production capacity in Arnhem.
ACCSYS TECHNOLOGIES PLC
("Accsys" of "de Vennootschap")
Correctie naar aanleiding van de verklaring jaarlijkse algemene
vergadering
Accsys geeft een correctie op de verklaring die is gedaan
voorafgaand aan de Algemene Vergadering van Aandeelhouders op 18
september 2018.
De correcte totale omzet in de vijf maanden tot 31 augustus 2018
bedraagt EUR25.6 miljoen (2017: EUR24.3 miljoen) (niet
gecontroleerd) en niet, zoals eerder gemeld EUR26.7 miljoen. Dit
verschil is het gevolg van enkele kleine correcties bij de
verwerking van intra-company transacties en heeft geen invloed op
de winst. Alle overige aspecten zoals verwoord in de verklaring van
de jaarlijkse algemene vergadering, inclusief toename van het
productievolume zijn correct en blijven gehandhaafd.
Accsys blijft vol vertrouwen dat het aan de verwachtingen voor
het gehele jaar kan voldoen omdat de groei in het resterende deel
van het financiële jaar met name wordt veroorzaakt door de
significante toename van de productie en verwachtte verkopen. Dit
als gevolg van de succesvolle opstart van de derde Accoya(R)
reactor in Arnhem eerder dit jaar. De vraag naar Accoya is nog
steeds groter dan de huidige productiecapaciteit in Arnhem.
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via MHP Communications
PLC Will Rudge, FD
Hans Pauli, Executive Director,
Corporate Development
Nominated Adviser:
Jamie Lillywhite
Corporate Broking:
Christopher Wilkinson +44 (0) 20 7260
Numis Securities Ben Stoop 1000
Tim Rowntree +44 (0) 20 3128
MHP Communications Kelsey Traynor 8100
Frank Neervoort +31 681 734 236
Off the Grid (The Netherlands) Yvonne Derkse +31 622 379 666
Notes to editors:
Accsys Technologies PLC (www.accsysplc.com) is a chemical
technology group whose primary focus is on the production of
Accoya(R) wood and Tricoya(R) 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(R) wood production; (ii) building and
operating of Tricoya(R) 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(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.
Moreover, the Accoya(R) wood production process does not compromise
the wood's strength or machinability. The combination of
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 highly
sustainable and environmentally responsible building material. For
a full archive of Accoya(R) news, visit www.accoya.com/news.
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 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(R) Wood Elements is
carried out through Tricoya Technologies 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
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(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 subsidiary of TWL with exclusive rights to exploit the
Tricoya(R) brand.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGMSESFADFASELU
(END) Dow Jones Newswires
September 24, 2018 02:01 ET (06:01 GMT)
Accsys Technologies (LSE:AXS)
Historical Stock Chart
From Apr 2024 to May 2024
Accsys Technologies (LSE:AXS)
Historical Stock Chart
From May 2023 to May 2024