TIDMAXS
RNS Number : 8369Q
Accsys Technologies PLC
23 June 2020
AIM: AXS
Euronext Amsterdam: AXS
23 June 2020
Issue of Shares and Directors' Interests
Accsys, the fast growing and sustainable chemical technology
group, announces the issue of 727,250 new ordinary shares of
EUR0.05 each in the Company ("Shares").
In respect of the year ended 31 March 2020, following
recommendation from the Remuneration Committee of the Company, the
Board has resolved to issue Shares to an Employee Benefit Trust,
the beneficiaries of which include employees and the Executive
Directors.
Such Shares are to be issued as part of the Company's reward,
incentivisation and retention strategy and in light of the
Coronavirus (Covid-19) pandemic, in lieu of cash bonuses for the
year ended 31 March 2020. In order to avoid any unintentional gains
due to the fall in the Company's Share price due to the pandemic,
the Board has resolved that the number of Shares to be issued to
the EBT, shall be calculated using a price of EUR1.05 per Share,
being the price at which Shares in the Company were issued at on 23
December 2019 at the time of the Company's most recent capital
raise and before the impact of the pandemic.
Once issued, these Shares shall vest if the employees, including
the Executive Directors, remain in employment with the Company to
the vesting date, being 1 July 2021 (subject to certain other
provisions including regulatory, good-leaver, take-over and
committee discretion provisions).
A total of 727,250 Shares will be issued to the Employee Benefit
Trust, of which 166,317 relate to the Executive Directors as set
out below:
Name Number of Shares
Robert Harris: 89,250
William Rudge: 77,067
The Shares will be issued pending admission to AIM and Euronext
("Admission"), which is expected to take place on or about 29 June
2020 (the "Issue Date").
The Company does not hold any shares in treasury. Therefore, the
total voting rights in the Company following the issue of the
Shares will be 164,274,854. Following the issue of the Shares, this
figure may be used by shareholders as the denominator for the
calculations by which they may determine if they are required to
notify their interest in, or a change to their interest in, the
Company's securities under the FCA's Disclosure Guidance and
Transparency Rules.
The following notifications are made under article 19 of the
Market Abuse Regulation ("MAR") relating to certain transactions by
persons discharging managerial responsibilities ("PDMR") in the
Shares of the Company.
1. Details of the person discharging managerial responsibilities / person closely associated
Name Robert Harris
--------------------------------------------- -----------------------------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------------------------------------------
Position/Status Chief Executive Officer
--------------------------------------------- -----------------------------------------------------------------
Initial notification/amendment Initial notification
--------------------------------------------- -----------------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
----------------------------------------------------------------------------------------------------------------
Name Accsys Technologies plc
--------------------------------------------- -----------------------------------------------------------------
LEI 213800HKRFK8PNUNV581
--------------------------------------------- -----------------------------------------------------------------
4. Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
----------------------------------------------------------------------------------------------------------------
Description of the Financial instrument, Ordinary shares of EUR0.05 each in Accsys Technologies plc
type of instrument
--------------------------------------------- -----------------------------------------------------------------
Identification code GB00BQQFX454
--------------------------------------------- -----------------------------------------------------------------
Nature of the Transaction Beneficial Interest in Shares Issued to Employee Benefit Trust
--------------------------------------------- -----------------------------------------------------------------
Price(s) and volume(s) Price(s) Volume(s)
--------------------------------------------- -------------------------------- -------------------------------
EUR1.05 89,250
-------------------------------------------------- -------------------------------- -------------------------------
Aggregated information: N/A
Aggregated volume
Price
-------------------------------------------------- -----------------------------------------------------------------
Date of the transaction 23 June 2020
-------------------------------------------------- -----------------------------------------------------------------
Place of the transaction London Stock Exchange (XLON); AIM Market
-------------------------------------------------- -----------------------------------------------------------------
1. Details of the person discharging managerial responsibilities / person closely associated
Name William Rudge
--------------------------------------------- -----------------------------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------------------------------------------
Position/Status Finance Director
--------------------------------------------- -----------------------------------------------------------------
Initial notification/amendment Initial notification
--------------------------------------------- -----------------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
----------------------------------------------------------------------------------------------------------------
Name Accsys Technologies plc
--------------------------------------------- -----------------------------------------------------------------
LEI 213800HKRFK8PNUNV581
--------------------------------------------- -----------------------------------------------------------------
4. Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
----------------------------------------------------------------------------------------------------------------
Description of the Financial instrument, Ordinary shares of EUR0.05 each in Accsys Technologies plc
type of instrument
--------------------------------------------- -----------------------------------------------------------------
Identification code GB00BQQFX454
--------------------------------------------- -----------------------------------------------------------------
Nature of the Transaction Beneficial Interest in Shares Issued to Employee Benefit Trust
--------------------------------------------- -----------------------------------------------------------------
Price(s) and volume(s) Price(s) Volume(s)
--------------------------------------------- -------------------------------- -------------------------------
EUR1.05 77,067
-------------------------------------------------- -------------------------------- -------------------------------
Aggregated information: N/A
Aggregated volume
Price
-------------------------------------------------- -----------------------------------------------------------------
Date of the transaction 23 June 2020
-------------------------------------------------- -----------------------------------------------------------------
Place of the transaction London Stock Exchange (XLON); AIM Market
-------------------------------------------------- -----------------------------------------------------------------
Ends
For further information, please contact:
Accsys Technologies PLC via FTI Consulting
Robert Harris, CEO
Will Rudge, FD
Numis Securities - Nominated Adviser and
Joint Broker
Oliver Hardy (NOMAD) +44 (0) 20 7260
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 +31 622 379 666
Notes to editors:
Accsys ( Accsys Technologies PLC) is a fast growing business
with a purpose: changing wood to change the world. The company
combines chemistry, technology and ingenuity to make high
performance wood products that are extremely durable and stable,
opening new opportunities for the built environment and giving the
world a choice to build sustainably.
Accsys transforms fast-growing, certified sustainable wood into
building materials with characteristics that match or better those
of man-made, intensely resource-depleting and heavily
carbon-polluting alternatives.
The company's primary focus is on the production of Accoya(R)
wood and Tricoya(R) wood elements, as well as technology licensing
via its subsidiaries Titan Wood Limited and Tricoya Technologies
Limited. Accsys has its head office in London, UK, production
operations in Arnhem, the Netherlands, an American office in
Dallas, Texas, and is constructing the world's first Tricoya(R)
plant in Hull, UK.
Accsys is committed to a more sustainable world, and uses
abundantly available wood sources that are certified as
sustainable. With our business model already aligned with several
UN Sustainable Development Goals, Accsys is currently working on
identifying further strategic ESG priorities to have an even
greater positive impact on the world.
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'.
More information about Accsys can be found at
www.accsysplc.com
Accoya (R) wood is a sustainable, durable and stable solid wood
product with exceptional performance, finish and sustainability.
Accsys' proprietary acetylation process makes the wood more
dimensionally stable and, because it is no longer easily
digestible, extremely durable. Produced from certified (e.g. FSC(R)
) sustainable sources, Accoya(R) wood has many environmental
credentials and ecolabels, and is one of very few building
materials to be Cradle to Cradle Certified(TM) at the Gold level,
with a Platinum rating for Material Health, confirming that no
harmful or toxic additives or chemicals are present to leach out
into the environment.
With an up to 50 year warranty and 70+ year service life, the
combination of sustainability, dimensional stability, durability
and retained strength means that Accoya(R) wood offers a wealth of
new opportunities to architects, designers, specifiers,
manufacturers and homeowners. These benefits result in lower
maintenance and total cost of ownership while also offering
significant sustainability benefits. For more information about
Accoya(R) wood, visit www.accoya.com .
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 (MDF) and particle-board.
Panel products made with Tricoya(R) wood elements are truly
durable and stable enough for use outdoors and in wet environments.
Combining the sustainability, durability and stability from our
acetylation process with the ease of use and quality finish of wood
panel products, the enhanced durability and dimensional stability
opens new opportunities for the use of these products, making them
suitable in applications and environments that previously required
solid wood, synthetic or unsustainable materials.
Tricoya(R) wood elements have been lauded as the first major
innovation in the wood composites industry in more than 30 years.
For more information about Tricoya(R) wood elements, visit
www.tricoya.com .
In March 2017, Accsys announced the formation of the Tricoya(R)
Consortium to fund, build, own and operate the Tricoya(R) plant in
Hull, UK, through its subsidiary Tricoya Ventures UK Limited. M
embers of the consortium include BP and the leading manufacturer of
sustainable wood-based panels, MEDITE Europe DAC. More information
is available at:
https://www.accsysplc.com/about-us/accsys-corporate-structure/
Wood acetylation is a process which increases the naturally
occurring acetyl content of wood, thereby changing its physical
properties. When carried out to a sufficient degree throughout the
wood, as with Accsys' proprietary process, it significantly reduces
the ability of the wood to absorb water without adding any toxic or
harmful compounds, elements or substances that were not already
present in the wood. This makes it much more dimensionally stable
and, because it is no longer easily digestible to most organisms,
extremely durable.
'Accsys' and 'Accsys Technologies' are trading names of Titan
Wood Limited ("TWL"), a wholly-owned subsidiary of Accsys
Technologies PLC. Accoya(R) , Tricoya(R) and the Trimarque Device
are registered trademarks owned by TWL, 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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