TIDMAXS
RNS Number : 9004R
Accsys Technologies PLC
19 June 2018
AIM: AXS
Euronext Amsterdam: AXS
19 June 2018
ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")
Directors' Interests, Issue of Shares to Employees, Long Term
Incentive Plan (LTIP) Awards
Accsys, the chemical technology group focused on the highly
sustainable acetylation of wood, announces the issue of new
ordinary shares of EUR0.05 each in the Company ("Shares"), and the
grant of LTIP Awards, to certain employees, including to Executive
Directors in the case of the LTIP Awards, in relation to employee
remuneration and incentivisation arrangements.
Issue of Shares to Employee Benefit Trust
In respect of the year ended 31 March 2018, following
recommendation from the nomination and remuneration committee of
the Company, the Board has resolved to issue Shares to an Employee
Benefit Trust.
A total of 173,915 Shares will be issued to the Employee Benefit
Trust. Such Shares shall vest if the employee remains in employment
with the Company to the vesting date, being 1 July 2019 (subject to
certain other provisions including regulatory, good-leaver,
take-over and committee discretion provisions).
The Shares will be issued pending admission to AIM and Euronext
("Admission"), which is expected to take place on or about 25 June
2018 (the "Issue Date").
Grant of LTIP Awards
Accsys further announces that under the Accsys Technologies PLC
Long Term Incentive Plan, the Board has resolved to grant LTIP
Awards to various senior employees, including Executive Directors,
in accordance with the terms of the LTIP Plan Rules approved by the
Company's shareholders in 2013.
The LTIP Awards, granted following recommendation from the
nomination and remuneration committee of the Company and in
accordance with the Company's Remuneration Policy (as approved by
shareholders), are nil priced options over a total of 1,170,160
Shares. Of this total, LTIP Awards been granted to Executive
Directors as set out below:
Shares under LTIP Award
Paul Clegg: 321,858
William Rudge: 135,514
Hans Pauli: 119,787
The vesting of the LTIP Awards will be subject to the terms of
the LTIP Plan Rules, including continued employment of the
beneficiaries by the Company and satisfaction of financial and
non-financial performance conditions.
Following the issue of the above Shares to the Employment
Benefit Trust, the Company will have a total of 111,687,060 Shares
in issue.
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via MHP Communications
PLC Will Rudge, FD
Hans Pauli, Executive Director,
Corporate Development
Nominated Adviser: Oliver Cardigan
Jamie Lillywhite
Corporate Broking: Christopher
Wilkinson +44 (0) 20 7260
Numis Securities Ben Stoop 1000
Tim Rowntree +44 (0) 20 3128
MHP Communications Kelsey Traynor 8100
+31 681 734
236
Frank Neervoort +31 222 379
Off the Grid (The Netherlands) Yvonne Derske 666
Notes to editors:
Accsys Technologies PLC (www.accsysplc.com) is a chemical
technology group whose primary focus is on the production of
Accoya(R) wood and Tricoya(R) wood elements, 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 London, United Kingdom, an
American office in Dallas, Texas (via its subsidiary Titan Wood,
Inc.) and technology licensing associated with the acetylation of
wood elements via its subsidiary Tricoya Technologies Limited. 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,
under the symbols 'AXS'. Accsys' operations comprise four principal
business units: (i) Accoya(R) wood production; (ii) building and
operating of Tricoya(R) wood chip acetylation plant in Hull; (iii)
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
(iv) 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.
Moreover, the Accoya(R) wood production process does not compromise
the wood's strength or machinability. The combination of
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.
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 panel products such as
medium density fibreboard and particle-board. These products
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. 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 subsidiary of TWL with exclusive rights to exploit the
Tricoya(R) brand.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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