TIDMAXS
RNS Number : 6796T
Accsys Technologies PLC
26 March 2021
AIM: AXS
Euronext Amsterdam: AXS
26 March 2021
Accsys Technologies PLC
("Accsys", the "Group" or the "Company")
Exercise of Options and Total Voting Rights
Accsys, the fast-growing and eco-friendly company that combines
chemistry and technology to create high performance, sustainable
wood building products, announces the exercise of options over a
total of 4,655,667 ordinary shares in the Company ("Ordinary
Shares") by Lombard Odier Asset Management (USA) Corp acting in its
capacity as discretionary investment manager for and on behalf of
1798 Volantis Catalyst Fund II Ltd ("Volantis") (the
"Options").
As announced by the Company on 29 March 2017, the Options were
granted in two tranches from that date to Volantis as part of their
EUR7.6 million net investment (alongside Business Growth Fund) in
the Company and Tricoya Technologies Limited ("TTL"). TTL is a
consortium company established by Accsys to benefit from Accsys'
valuable Tricoya(R) wood chip technology on a global basis, which
includes the construction of the world's first Tricoya(R) plant in
Hull, UK.
The Options have been exercised by Volantis in full for a total
consideration of GBP2,779,898.77 payable to the Company,
representing an exercise price per Ordinary Share of GBP0.62 as
agreed on 29 March 2017 (adjusted to GBP0.5971 following a
subsequent share issuance in April 2017).
Issue of equity
Application has been made for the admission to trading on AIM
and Euronext Amsterdam ("Admission") of the 4,655,667 Ordinary
Shares issued pursuant to the exercise of the Options and it is
expected that Admission will occur on 29 March 2021.
Total voting rights
The total number of issued Shares following Admission will be
169,324,264 Shares. The Company does not hold any shares in
treasury. Therefore, the total voting rights in the Company
following Admission will be 169,324,264. This figure may be used by
shareholders as the denominator for the calculations by which they
may determine if they are required to notify their interest in, or
a change to their interest in, the Company's securities under the
FCA's Disclosure Guidance and Transparency Rules.
Ends
For further information, please contact:
Accsys Technologies plc
Sarah Ogilvie, Investor Relations
ir@accsysplc.com
========================================= ======================
Numis Securities (London)
Oliver Hardy (NOMAD), Ben Stoop +44 (0) 20 7260 1000
========================================= ======================
Investec Bank plc (London)
Carlton Nelson, Alex Wright +44 (0) 20 7597 5970
ABN Amro (Amsterdam)
Richard van Etten, Geertje Cornelissen +31 20 344 2000
========================================= ======================
FTI Consulting (UK)
Matthew O'Keeffe, Alex Le May +44 (0) 20 3727 1340
========================================= ======================
Off the Grid (The Netherlands)
Frank Neervoort, Yvonne Derske +31 681 734 236
========================================= ======================
Notes to editors:
Accsys (Accsys Technologies PLC) is a fast-growing business with
a purpose: changing wood to change the world. The company combines
chemistry, technology and ingenuity to make high performance wood
products that are extremely durable and stable, opening new
opportunities for the built environment and giving the world a
choice to build sustainably.
Accsys transforms fast-growing, certified sustainable wood into
building materials with characteristics that match or better those
of man-made, intensely resource-depleting and heavily
carbon-polluting alternatives.
The company's primary focus is on the production of Accoya (R)
wood and Tricoya (R) wood elements, as well as technology licensing
via its subsidiaries Titan Wood Limited and Tricoya Technologies
Limited. Accsys has its head office in London, UK, production
operations in Arnhem, the Netherlands, an American office in
Dallas, Texas, and is constructing the world's first Tricoya (R)
plant in Hull, UK.
Accsys is committed to a more sustainable world, and uses
abundantly available wood sources that are certified as
sustainable. With our business model already aligned with several
UN Sustainable Development Goals, Accsys is currently working on
identifying further strategic ESG priorities to have an even
greater positive impact on the world.
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'.
More information about Accsys can be found at
www.accsysplc.com
Accoya (R) wood is a sustainable, durable and stable solid wood
product with exceptional performance, finish and sustainability.
Accsys' proprietary acetylation process makes the wood more
dimensionally stable and, because it is no longer easily
digestible, extremely durable. Produced from certified (e.g. FSC
(R) ) sustainable sources, Accoya (R) wood has many environmental
credentials and ecolabels, and is one of very few building
materials to be Cradle to Cradle Certified(TM) at the Gold level,
with a Platinum rating for Material Health, confirming that no
harmful or toxic additives or chemicals are present to leach out
into the environment.
With an up to 50 year warranty and 70+ year service life, the
combination of sustainability, dimensional stability, durability
and retained strength means that Accoya (R) wood offers a wealth of
new opportunities to architects, designers, specifiers,
manufacturers and homeowners. These benefits result in lower
maintenance and total cost of ownership while also offering
significant sustainability benefits. For more information about
Accoya (R) wood, visit www.accoya.com .
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 (MDF) and particle-board.
Panel products made with Tricoya (R) wood elements are truly
durable and stable enough for use outdoors and in wet environments.
Combining the sustainability, durability and stability from our
acetylation process with the ease of use and quality finish of wood
panel products, the enhanced durability and dimensional stability
opens new opportunities for the use of these products, making them
suitable in applications and environments that previously required
solid wood, synthetic or unsustainable materials.
Tricoya (R) wood elements have been lauded as the first major
innovation in the wood composites industry in more than 30 years.
For more information about Tricoya (R) wood elements, visit
www.tricoya.com.
In March 2017, Accsys announced the formation of the Tricoya (R)
Consortium to fund, build, own and operate the Tricoya (R) plant in
Hull, UK, through its subsidiary Tricoya Ventures UK Limited.
Members of the consortium include BP and the leading manufacturer
of sustainable wood-based panels, MEDITE Europe DAC.
Wood acetylation is a process which increases the naturally
occurring acetyl content of wood, thereby changing its physical
properties. When carried out to a sufficient degree throughout the
wood, as with Accsys' proprietary process, it significantly reduces
the ability of the wood to absorb water without adding any toxic or
harmful compounds, elements or substances that were not already
present in the wood. This makes it much more dimensionally stable
and, because it is no longer easily digestible to most organisms,
extremely durable.
'Accsys' and 'Accsys Technologies' are trading names of Titan
Wood Limited ("TWL"), a wholly-owned subsidiary of Accsys
Technologies PLC. Accoya (R) , Tricoya (R) and the Trimarque Device
are registered trademarks owned by TWL, 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.
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