TIDMAXS
RNS Number : 9784J
Accsys Technologies PLC
23 July 2013
AIM: AXS
NYSE Euronext Amsterdam: AXS
23 July 2013
ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")
Accsys Employee Share Participation Plan and Directors'
Interests
Accsys, the environmental science and wood technology company,
previously announced on 1 August 2011 the establishment of an
Employee Share Participation Plan (the "Plan") intended to promote
the long term growth and profitability of Accsys by providing
employees with an opportunity to acquire an ownership interest in
new ordinary shares in the Company ("Shares") as an additional
benefit of employment.
Under the terms of the Plan, the Company issues Shares to a
trust for the benefit of the subscribing employees with the Shares
to be released to employees after one year, together with an
additional Share on a 1 for 1 matched basis provided the employee
remains in the employment of Accsys at that point in time (the
"Matching Shares"). The Plan is in line with industry approved
employee share plans and is open for subscription by employees
twice a year following release of annual and half yearly financial
results.
As announced on 3 August 2012, a total of 415,332 Shares were
issued on 7 September 2012 to this trust for the benefit of a
number of employees under the terms of the Plan. Subject to all of
these beneficiaries remaining employed by Accsys on 7 September
2013 and pursuant to the Plan, a further 415,332 Shares will
(pending admission of the Shares to AIM and Euronext ("Admission")
expected on 13 September 2013) be issued at nominal value of
EUR0.01 each and released to the employees together with the Shares
issued to the trust last year.
In addition, following the release of the Company's Preliminary
Announcement of Results for the year ended 31 March 2013, Accsys
announces that, through the Plan, various employees have subscribed
for a total of 497,854 Shares at an acquisition price of EUR0.14
per Share (being the closing price of shares in the Company on 8
July on Euronext Amsterdam, the closing date for subscriptions of
Shares under the Plan, the "July Subscription"). This includes
subscriptions by Hans Pauli and William Rudge, executive directors
of the Company, for 17,857 Shares each.
All Shares will be issued pursuant to the July Subscription
pending Admission which is expected to take place following receipt
of subscription monies, on or about 12 August 2013.
Following the issue of all the above Shares, the Company will
have a total of 438,850,441 Shares in issue.
Further to Accsys' announcement on 5 July 2012, and in
compliance with the AIM Rules all 3,926,666 ordinary shares in the
Company ("Ordinary Shares") held by the Accsys Employee Benefit
Trust ('EBT') (established in February 2011) vested on 1 July 2013
and have been released to the beneficiaries of the EBT, being
certain employees and the executive directors of the Company (the
"Beneficiaries"). Such Ordinary Shares were issued to the EBT in
connection with employee remuneration and incentivisation
arrangements. The market value of the Ordinary Shares at the date
of vesting was EUR0.14 per Ordinary Share.
Certain beneficiaries subsequently elected to immediately sell a
number of Ordinary Shares on the open market, including the
executive directors whose names are set out below. These shares
were sold at an average price of EUR0.136 per Ordinary Share
between 1 July 2013 and 22 July 2013 for various personal reasons,
including the funding of tax liabilities incurred upon vesting of
the Ordinary Shares.
Name Number of Ordinary Number of Ordinary Direct and
Shares Vested Shares subsequently indirect interest
sold on open market after sale
Paul Clegg 1,500,000 1,500,000 2,641,310
Hans Pauli 666,666 330,000 1,478,566
William Rudge 200,000 119,686 682,666
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via Blythe Weigh
PLC Hans Pauli, COO Communications
Will Rudge, FD
Nominated Adviser: Oliver
Cardigan
Corporate Broking: Christopher
Wilkinson +44 (0) 20 7260
Numis Securities Ben Stoop 1000
+44 (0) 20 7138
3204
Paul Weigh +44 (0) 7989 129658
Blythe Weigh Communications Tim Blythe +44 (0) 7816 924626
+31 20 794 4700
Frank Neervoort +31 681 734 236
Off the Grid (The Netherlands) Giedo Van Der Zwan +31 624 212 238
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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