Issue of Shares and Directors' Interests

AIM: AXS

Euronext Amsterdam: AXS

23 June 2020 

Issue of Shares and Directors' Interests

 

Accsys, the fast growing and sustainable chemical technology group, announces the issue of 727,250 new ordinary shares of €0.05 each in the Company ("Shares").

 

In respect of the year ended 31 March 2020, following recommendation from the Remuneration Committee of the Company, the Board has resolved to issue Shares to an Employee Benefit Trust, the beneficiaries of which include employees and the Executive Directors.

 

Such Shares are to be issued as part of the Company's reward, incentivisation and retention strategy and in light of the Coronavirus (Covid-19) pandemic, in lieu of cash bonuses for the year ended 31 March 2020. In order to avoid any unintentional gains due to the fall in the Company's Share price due to the pandemic, the Board has resolved that the number of Shares to be issued to the EBT, shall be calculated using a price of €1.05 per Share, being the price at which Shares in the Company were issued at on 23 December 2019 at the time of the Company's most recent capital raise and before the impact of the pandemic.

 

Once issued, these Shares shall vest if the employees, including the Executive Directors, remain in employment with the Company to the vesting date, being 1 July 2021 (subject to certain other provisions including regulatory, good-leaver, take-over and committee discretion provisions).

 

A total of 727,250 Shares will be issued to the Employee Benefit Trust, of which 166,317 relate to the Executive Directors as set out below:

 

Name                Number of Shares

 

Robert Harris:    89,250

William Rudge: 77,067

 

The Shares will be issued pending admission to AIM and Euronext ("Admission"), which is expected to take place on or about 29 June 2020 (the "Issue Date").

 

The Company does not hold any shares in treasury. Therefore, the total voting rights in the Company following the issue of the Shares will be 164,274,854. Following the issue of the Shares, 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.

 

The following notifications are made under article 19 of the Market Abuse Regulation ("MAR") relating to certain transactions by persons discharging managerial responsibilities ("PDMR") in the Shares of the Company.

 

1.	Details of the person discharging managerial responsibilities / person closely associated
	Name	Robert Harris
2.	Reason for the Notification
	Position/Status	Chief Executive Officer
	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
	Name	Accsys Technologies plc
	LEI	213800HKRFK8PNUNV581
4.	Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
	Description of the Financial instrument, type of instrument	Ordinary shares of €0.05 each in Accsys Technologies plc
	Identification code	GB00BQQFX454
	Nature of the Transaction	Beneficial Interest in Shares Issued to Employee Benefit Trust
	Price(s) and volume(s)	Price(s)	Volume(s)
		€1.05	89,250
	Aggregated information: Aggregated volume Price	N/A
	Date of the transaction	23 June 2020
	Place of the transaction	London Stock Exchange (XLON); AIM Market

 

 

1.	Details of the person discharging managerial responsibilities / person closely associated
	Name	William Rudge
2.	Reason for the Notification
	Position/Status	Finance Director
	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
	Name	Accsys Technologies plc
	LEI	213800HKRFK8PNUNV581
4.	Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
	Description of the Financial instrument, type of instrument	Ordinary shares of €0.05 each in Accsys Technologies plc
	Identification code	GB00BQQFX454
	Nature of the Transaction	Beneficial Interest in Shares Issued to Employee Benefit Trust
	Price(s) and volume(s)	Price(s)	Volume(s)
		€1.05	77,067
	Aggregated information: Aggregated volume Price	N/A
	Date of the transaction	23 June 2020
	Place of the transaction	London Stock Exchange (XLON); AIM Market

 

 

 

 

Ends

 

For further information, please contact:

Accsys Technologies PLC Robert Harris, CEO Will Rudge, FD	via FTI Consulting
Numis Securities - Nominated Adviser and Joint Broker Oliver Hardy (NOMAD) Ben Stoop	+44 (0) 20 7260 1000
Investec Bank plc - Joint Broker Carlton Nelson James Rudd Alex Wright	+44 (0) 20 7597 5970
FTI Consulting Matthew O'Keeffe Alex Le May	+44 (0) 20 3727 1340
Off the Grid (The Netherlands) Frank Neervoort Yvonne Derske	+31 681 734 236 +31 622 379 666

 

 

 

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^® wood and Tricoya^® 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^® 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^® 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^®) sustainable sources, Accoya^® wood has many environmental credentials and ecolabels, and is one of very few building materials to be Cradle to Cradle Certified™ 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^® 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^® wood, visit www.accoya.com.

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 (MDF) and particle-board.

Panel products made with Tricoya^® 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^® 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^® wood elements, visit www.tricoya.com.

In March 2017, Accsys announced the formation of the Tricoya^® Consortium to fund, build, own and operate the Tricoya^® 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. More information is available at: https://www.accsysplc.com/about-us/accsys-corporate-structure/

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^®, Tricoya^® 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^® registered trademark, from Tricoya Technologies Limited, a subsidiary of TWL with exclusive rights to exploit the Tricoya^® brand.