TIDMAXS
RNS Number : 6443I
Accsys Technologies PLC
20 June 2017
AIM: AXS
Euronext Amsterdam: AXS
20 June 2017
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, in each case to Executive Directors and other
employees in relation to employee remuneration and incentivisation
arrangements.
Issue of Shares to Employee Benefit Trust
In respect of the year ended 31 March 2017, 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 97,720 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 2018 (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 23 June
2017 (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 998,918
Shares. Of this total, LTIP Awards been granted to Executive
Directors as set out below:
Shares under LTIP Award
Paul Clegg: 329,805
Hans Pauli: 112,351
William Rudge: 92,573
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 TSR and EBITDA
performance conditions.
Following the issue of the above Shares to the Employment
Benefit Trust, the Company will have a total of 111,065,291 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
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 whose 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 London, United Kingdom, an American office in Dallas,
Texas (via its subsidiary Titan Wood, Inc) and technology licencing
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 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 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 company news service from the London Stock Exchange
END
DSHZMGZVKGDGNZM
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June 20, 2017 11:28 ET (15:28 GMT)
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