TIDMAXS
RNS Number : 0692T
Accsys Technologies PLC
30 September 2014
AIM: AXS
NYSE Euronext Amsterdam: AXS
30 September 2014
ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")
Pre Close Trading Update and Employee Benefit Trust sale of
shares
Accsys, the chemical technology group focused on the acetylation
of wood, announces a pre-close trading update before entering a
close period on 1 October 2014. Interim results for the six months
ended 30 September 2014 will be announced in the second half of
November.
Trading update
Sales of Accoya(R) in the first half of the financial year have
continued to be strong, with Accoya(R) revenue increasing by
approximately 38% compared to the same period last year. Demand
also continues to be strong with forward orders now in place for
the remainder of the year.
The continued growth and strong demand follows on from our
successful fourth Worldwide Accoya(R) wood sales conference in
September, which involved 130 participants, being an increase from
90 last year.
Sale of Employee Benefit Trust ("EBT") shares
Further to the Company's announcement of 9 July 2013 in respect
of the EBT, awards over 945,133 EUR0.05 ordinary shares(1) in the
capital of the Company ("shares") vested on 8 August 2014. These
awards were granted in line with the Company's employee
remuneration and incentivisation arrangements and relate to the
period from 1 July 2012 to 30 June 2013.
Certain beneficiaries elected to sell shares on the open market
to fund the resulting personal tax liabilities. The EBT has been
selling these shares, however as at today's date, 223,425 shares
have yet to be sold.
Therefore, during the Company's close period from 1 October
until the release of its Interim Results for the six months ending
30 September 2014, which are expected to be announced in the second
half of November, the EBT intends to continue to sell the remaining
shares with the sales process managed by an independent third
party. The EBT has received irrevocable instructions and will be
independent of, and uninfluenced by, the Company for this close
period.
Details concerning Directors' holding in the EBT are set out
below:
Name Number of EUR0.05 Number of EUR0.05 Ordinary Shares
Ordinary Shares vested Elected to be sold on open Market
Paul Clegg 380,000 120,000
Hans Pauli 135,600 67,600
William Rudge 86,533 46,533
A further announcement will be made at the conclusion of the
sale of shares held by the EBT.
Footnote:
1 - The number of shares disclosed is after taking account of
the 5 to 1 share consolidation which was effected on 12 September
2014.
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
MSCBUGDCSUXBGSG
Accsys Technologies (LSE:AXS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Accsys Technologies (LSE:AXS)
Historical Stock Chart
From Jul 2023 to Jul 2024
