TIDMAXS
RNS Number : 2254O
Accsys Technologies PLC
30 September 2019
AIM: AXS
Euronext Amsterdam: AXS
30 September 2019
Accsys Technologies PLC
("Accsys")
Result of Annual General Meeting
The Board of Accsys Technologies PLC announces that its Annual
General Meeting was held at 11.45 a.m. (UK time) on the 30
September 2019. All resolutions, as set out in the Notice of Annual
General Meeting, dated 12 August 2019 were duly passed.
The final voting position is shown below (inclusive of proxy
votes cast prior to and at the Meeting). Any proxy votes which are
at the discretion of the Chairman have been included in the "For"
total.
No. Resolutions For Against Vote Withheld % Vote
(Please refer to Notice of Meeting Cast
for full text) For
---- ----------------------------------------- ----------- -------- -------------- -------
Ordinary Resolutions
----------------------------------------- ----------- -------- -------------- -------
To receive and adopt the audited
financial statements for the
financial year ended 31 March
2019, together with the reports
1 of the Directors and auditors 60,326,832 151,515 1,383 99.75
----------------------------------------- ----------- -------- -------------- -------
To approve the Directors' Remuneration
Report for the financial year
ended 31 March 2019 (excluding
2 the Remuneration Policy) 60,312,222 164,836 2,672 99.73
----------------------------------------- ----------- -------- -------------- -------
To re-elect Patrick Shanley
3 as a Director of the Company 60,049,643 411,955 18,132 99.32
----------------------------------------- ----------- -------- -------------- -------
To re-elect William Bickerton
4 Rudge as a Director of the Company 60,320,914 158,498 318 99.74
----------------------------------------- ----------- -------- -------------- -------
To re-appoint PricewaterhouseCoopers
5 LLP as auditors of the Company 60,324,779 152,898 2,053 99.75
----------------------------------------- ----------- -------- -------------- -------
To authorise the Directors to
6 determine the auditors' remuneration 60,326,832 151,515 1,383 99.75
----------------------------------------- ----------- -------- -------------- -------
To authorise the Directors to
7 allot shares generally 60,318,489 161,241 - 99.73
----------------------------------------- ----------- -------- -------------- -------
Special Resolutions
----------------------------------------- ----------- -------- -------------- -------
To empower the Directors to
allot shares for cash (other
8 than pro rata to existing shareholders) 60,304,102 173,575 2,053 99.71
----------------------------------------- ----------- -------- -------------- -------
To authorise the Company to
make market purchases of its
9 own ordinary shares 60,308,322 171,408 - 99.72
----------------------------------------- ----------- -------- -------------- -------
(1) Discounting Votes Withheld
Ends
For further information, please contact:
Accsys Technologies PLC via FTI Consulting
Paul Clegg, CEO
Will Rudge, FD
Numis Securities - NOMAD and Joint Broker
Oliver Hardy (NOMAD) +44 (0) 20 7260
Christopher Wilkinson / Ben Stoop 1000
Investec Bank plc - Joint Broker
Carlton Nelson
James Rudd +44 (0) 20 7597
Alex Wright 5970
FTI Consulting
Matthew O'Keeffe +44 (0) 20 3727
Alex Le May 1340
Off the Grid (The Netherlands)
Frank Neervoort +31 681 734 236
Yvonne Derske +31 222 379 666
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.
Tricoya(R) Consortium In March 2017, Accsys announced the
formation of the Tricoya(R) Consortium to fund, build and operate
the Tricoya(R) plant in Hull, UK. Members of the consortium include
BP and the leading manufacturer of sustainable wood-based panels,
MEDITE Europe DAC. Tricoya Ventures UK Ltd (TVUK), a subsidiary of
Accsys, owns and will operate the Tricoya(R) plant. TTL exploits
all Tricoya(R) related intellectual property and benefits from any
Tricoya(R) related revenues other than those generated by the
Tricoya(R) plant. The Tricoya(R) plant is expected to have an
initial capacity of 30,000 metric tonnes of Tricoya(R) chips per
annum, enough to produce approximately 40,000m(3) of Tricoya(R)
panel products per annum. The Tricoya(R) plant is expected to reach
EBITDA breakeven at approximately 40% design capacity and to take
approximately four years to reach full capacity following
completion. The location of the Tricoya(R) plant at Saltend
Chemicals Park in Hull allows for expansion when market conditions
dictate.
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' and 'Accsys Technologies' are trading names 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
RAGLMMFTMBMJBAL
(END) Dow Jones Newswires
September 30, 2019 12:17 ET (16:17 GMT)
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
