TIDMAXS
RNS Number : 4685R
Accsys Technologies PLC
11 September 2014
AIM: AXS
NYSE Euronext Amsterdam: AXS
11 September 2014
ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")
Result of Annual General Meeting
The Board of Accsys Technologies PLC announces that its Annual
General Meeting was held at 3.00 p.m. (UK time) on the 11 September
2014. All resolutions, as set out in the Notice of Annual General
Meeting, dated 19 August 2014 were duly passed.
The final proxy voting position is shown below. Any proxy votes
which are at the discretion of the Chairman have been included in
the "For" total.
Further to the passing of Resolution 8 (share consolidation),
the entire issued share capital of the Company shall be
consolidated on a 5:1 basis from 443,734,861 ordinary shares of
EUR0.01 each into 88,746,972 ordinary shares of EUR0.05 eachwith
effect (pending admission of the shares to AIM and Euronext
Amsterdam) from Friday 12 September 2014.
As noted in Accsys' AGM Notice of 19 August 2014, the currency
of the Company's quote on the 'AIM' market of the London Stock
Exchange will now be changed from Euro to Sterling, with effect
from 12 September 2014. The denomination of the entire issued share
capital of the Company will continue to be in Euro, as will the
currency of the quote on Euronext Amsterdam. The currency change on
AIM reflects investment community sentiment and is being effected
in line with external advice. It is anticipated that the change
will make the Company's share capital increasingly accessible to
investors and will generally promote the success of the
Company.
No. Resolutions For Against Vote Withheld % Vote
(Please refer to Notice Cast For
of Meeting for full text)
---- ------------------------------------- ------------ ----------- -------------- ----------
Ordinary Resolutions
---- ------------------------------------- ------------ ----------- -------------- ----------
To receive and adopt the
Annual Report and Financial
Statements of the Company
for the year ended 31
March 2014 together with
the Reports of the Directors
1 and Auditors thereon 150,339,575 5,000 26,000 99.9%
---- ------------------------------------- ------------ ----------- -------------- ----------
To approve the Directors'
remuneration report (excluding
the Directors' remuneration
policy) for the year ending
2 31 March 2014 134,997,813 15,326,762 46,000 89.8%
---- ------------------------------------- ------------ ----------- -------------- ----------
To approve the Directors'
3 remuneration policy 121,729,276 15,343,475 13,297,824 88.8%
---- ------------------------------------- ------------ ----------- -------------- ----------
To re-elect Montague John
(Nick) Meyer as a Director
4 of the Company 135,045,813 15,298,762 26,000 89.8%
---- ------------------------------------- ------------ ----------- -------------- ----------
To re-elect Johannes Catharina
Hermanus Leonardus (Hans)
Pauli as a Director of
5 the Company 135,057,813 15,286,762 26,000 89.8%
---- ------------------------------------- ------------ ----------- -------------- ----------
To re-appoint PricewaterhouseCoopers
LLP as auditors of the
6 Company 150,319,575 25,000 26,000 99.9%
---- ------------------------------------- ------------ ----------- -------------- ----------
To authorise the Directors
to determine the auditors'
7 remuneration 150,317,575 25,000 28,000 99.9%
---- ------------------------------------- ------------ ----------- -------------- ----------
To approve the consolidation
of the entire issued share
8 capital of the Company 150,317,262 27,313 26,000 99.9%
---- ------------------------------------- ------------ ----------- -------------- ----------
To authorise the Directors
9 to allot shares generally 150,297,262 35,313 38,000 99.9%
---- ------------------------------------- ------------ ----------- -------------- ----------
Special Resolutions
---- ------------------------------------- ------------ ----------- -------------- ----------
To authorise the Directors
to allot shares for cash
disapplying statutory
10 pre-emption rights 145,286,452 5,058,123 26,000 96.6%
---- ------------------------------------- ------------ ----------- -------------- ----------
To authorise the Company
to make market purchases
11 of its own ordinary shares 135,023,813 15,308,762 38,000 89.8%
---- ------------------------------------- ------------ ----------- -------------- ----------
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via Blytheweigh
PLC Hans Pauli, COO
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
+44 (0) 7989 129
658
Paul Weigh +44 (0) 7989 394
Blytheweigh Alexandra Shilov 027
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 a chemical
technology group focussed on the development and commercialisation
of a range of transformational technologies based upon the
acetylation of solid wood (Accoya(R) ) and wood elements
(Tricoya(R) ) for use as class leading, environmentally sustainable
construction materials. Accsys's 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. These benefits result in lower maintenance and
total cost of ownership while using a higher sustainable and
environmental responsible building material. 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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