Accsys Technologies PLC Directorate Change (0829M)

TIDMAXS

RNS Number : 0829M

Accsys Technologies PLC

12 September 2023

AIM: AXS

Euronext Amsterdam: AXS

12 September 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Accsys Technologies PLC

("Accsys", the "Group" or the "Company")

Directorate Change

Accsys announces today that its Chairman, Stephen Odell, has informed the Company of his intention not to seek re-election at the Company's forthcoming AGM on 20 September 2023 due to personal reasons.

Trudy Schoolenberg, the Company's Senior Independent Director will assume the role of Interim Chair at the conclusion of the AGM.

In-line with best practice the Board will keep its composition under review and will consult with shareholders as appropriate. This process will include the appointment of a permanent Chair.

As the Company's AGM Notice has already been issued, the Company confirms that the resolution to re-elect Stephen Odell as a director of the Company (Resolution 3) is now withdrawn.

The withdrawal of Resolution 3 does not otherwise affect the validity of the Notice of Meeting, the AGM proxy form or any proxy votes already submitted on other proposed resolutions. The numbering of all other proposed resolutions at the AGM will remain unchanged.

Stephen Odell, Chairman of Accsys, commented:

"It has been a privilege to be Chair of Accsys over the last three years. I believe the Company's innovative and sustainable Accoya and Tricoya products have tremendous potential. I would like to thank the Board and the senior leadership team, together with all of Accsys' committed colleagues, for their hard work and support during my time at the Company. I wish them and Accsys every success."

Commenting on today's announcement, Trudy Schoolenberg, Senior Independent Director of Accsys, said:

"On behalf of the Board and management team, I would like to thank Stephen for his dedicated service to the Company and his outstanding leadership of the Board over the last three years. During his tenure the Company has made significant progress with its strategy, navigating the challenges of Covid-19, completing the successful construction of additional reactors in Arnhem and establishing the foundations and momentum for our US expansion. Stephen's leadership of the Board will be greatly missed by all of us at Accsys and we wish him the very best for the future."

Commenting on today's announcement, Jelena Arsic van Os, Chief Executive Officer, said:

"I am very grateful to have had the opportunity to experience Stephen's leadership and professionalism. He will be missed. I also want to express my confidence in Accsys' bright future under the new leadership team. We will continue pushing boundaries with our leading technology and innovative and sustainable Accoya and Tricoya product, which has significant global growth potential. I have been very impressed with the Accsys team and everyone's commitment to delivering on our promise of changing wood to change the world."

Ends

This announcement comprises inside information for the purposes of EU MAR and UK MAR. The person responsible for making this announcement is Nick Hartigan, General Counsel and Company Secretary, Accsys Technologies PLC.

For further information, please contact:

 
 Accsys Technologies PLC                   ir@accsysplc.com 
  Katharine Rycroft, Head of Investor       +44 (0) 20 7421 4300 
  Relations 
========================================  ====================== 
 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, Dennis van Helmond     +31 20 344 2000 
========================================  ====================== 
 Huijskens Sassen Communications (The 
  Netherlands) 
  Clemens Sassen                            +31 20 685 5955 
========================================  ======================

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 Accoya wood and Tricoya wood elements: 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 an up to 50-year warranty, locking carbon stored in the wood into useful products for decades, with performance characteristics that match or better those of non-renewable, resource-depleting and polluting alternatives. Accsys is listed on the London Stock Exchange AIM market and on Euronext Amsterdam, under the symbols 'AXS'. Visit www.accsysplc.com

Accoya solid wood is sustainable, durable, and stable 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. It 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. Primary applications for Accoya wood include windows, doors, cladding and decking, where the combination of performance and sustainability benefits compete favorably against hardwoods, plastics, metals and concrete. Visit www.accoya.com

Tricoya acetylated wood elements are produced for use in the fabrication of panel products such as medium density fibreboard (MDF). Panel products made with Tricoya wood elements are truly durable and stable enough for use outdoors and in wet environments, unlocking new possibilities for design and construction. They have been lauded as the first major innovation in the wood composites industry in more than 30 years and bring the flexibility of traditional panel products and sustainability benefits of wood to a whole new range of applications. Visit www.tricoya.com

Any references in this announcement to agreements with Accsys shall mean agreements with either Accsys or its subsidiary entities unless otherwise specified. '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 brand trademark, from Tricoya Technologies Limited, a subsidiary of TWL with exclusive rights to exploit the Tricoya brand.

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