Accsys Technologies PLC Director's Interest (3000Y)
February 20 2013 - 6:59AM
UK Regulatory
TIDMAXS
RNS Number : 3000Y
Accsys Technologies PLC
20 February 2013
AIM: AXS
NYSE Euronext Amsterdam: AXS
20 February 2013
ACCSYS TECHNOLOGIES PLC
("Accsys" or the "Company")
Director's Interest
Accsys, the environmental science and wood technology company,
previously announced on 3 January 2012 the vesting of 2,500,000
ordinary shares in the share capital of Accsys (each a "Share")
held in an Employee Benefit Trust ("2011 EBT") in connection with
the Company's employee incentivisation and remuneration
arrangements. Following vesting, the Shares were released to the
beneficiaries of the 2011 EBT, namely the executive directors at
the time (Paul Clegg and Hans Pauli) and various other employees of
the Company discharging managerial responsibilities (the
"Beneficiaries").
As disclosed on 3 January 2012, certain Beneficiaries excluding
Mr Clegg, sold at that time a number of Shares for various reasons,
including to satisfy associated personal tax liabilities.
The Company now announces that on 18 and 19 February 2013 Mr
Clegg sold an aggregate of 422,526 Shares from a total of 750,000
Shares vested in his name pursuant to the 2011 EBT at an average
price of EUR0.1575 and has applied the sale proceeds totalling
EUR66,548 in part against his previously incurred personal tax
liability arising following the vesting of the 2011 EBT Shares.
Following the sale of the 422,526 Shares, Mr Clegg continues to
have a beneficial interest in 2,204,947 Shares (either directly or
indirectly, including through other members of Mr Clegg's immediate
family).
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via Citigate
PLC Hans Pauli, COO Dewe Rogerson
Will Rudge, FD
Nominated Adviser: Oliver
Cardigan
Corporate Broking: Christopher
Wilkinson +44 (0)20 7260
Numis Securities Ben Stoop 1000
Ginny Pulbrook +44 20 7282 2945
Malcolm Robertson +44 20 7282 2867
Citigate Dewe Rogerson Suzanne Bakker +31 20 575 4023
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. For marine uses where weight is also important,
Accoya(R) wood for the first time provides boat builders with a
wood that is strong, lightweight, durable and retains its natural
beauty for far longer. 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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