TIDMAXS
RNS Number : 4695C
Accsys Technologies PLC
28 June 2016
Regulatory Announcement
Company Accsys Technologies
PLC
TIDM AXS
Headline Directors' Interests,
Issue of Shares to
Employees and Total
Voting Rights
Released 28 June 2016
Number
AIM: AXS
Euronext Amsterdam: AXS
28 June 2016
ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")
Directors' Interests, Issue of Shares to Employees, Long Term
Incentive Plan (LTIP) Awards and Total Voting Rights
Accsys, the chemical technology group focused on the 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 Executive Directors and Employees
In respect of the year ended 31 March 2016, following
recommendation from the nomination and remuneration committee of
the Company, the Board has resolved to issue Shares to an Employee
Benefit Trust, the beneficiaries of which include Executive
Directors.
Such Shares shall vest if the employees, including the Executive
Directors, remain in employment with the Company to the vesting
date, being 1 July 2017 (subject to certain other provisions
including regulatory, good-leaver, take-over and committee
discretion provisions).
A total of 673,355 Shares will be issued to the Employee Benefit
Trust, of which 170,668 relate to the Executive Directors as set
out below:
Name Number of Ordinary Shares
Paul Clegg : 75,842
Hans Pauli : 52,250
William Rudge: 42,576
The Shares will be issued pending admission to AIM and Euronext
("Admission"), which is expected to take place on or about 4 July
2016 (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 1,070,255
Shares. Of this total, LTIP Awards been granted to Executive
Directors as set out below:
Element A (TSR Performance) Element B (EBITDA Performance)
Paul Clegg: 189,607 189,607
Hans Pauli: 65,313 65,314
William Rudge: 53,221 53,221
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.
Pursuant to 5.6.1 of the Disclosure and Transparency Rules, the
Company notifies the market that pending Admission, at the Issue
Date the issued share capital of the Company consists of 90,563,374
Shares each with voting rights. No Shares are held in treasury.
Pending Admission, as from the Issue Date, the above figure of
90,563,374 Shares may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the Company under the FCA's Disclosure and Transparency Rules.
This figure replaces and supersedes any figure previously
announced.
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via MHP Communications
PLC Hans Pauli, Executive
Director, Corporate
Development
Will Rudge, FD
Nominated Adviser:
Oliver Cardigan
Corporate Broking:
Christopher Wilkinson +44 (0) 20
Numis Securities Ben Stoop 7260 1000
Tim Rowntree
James White +44 (0) 20
MHP Communications Tess Harris 3128 8100
+31 681 734
236
Off the Grid (The Frank Neervoort +31 624 212
Netherlands) Giedo Van Der Zwan 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 Windsor, 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. 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 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 wholly owned 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
MSCGRGDLCXDBGLI
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June 28, 2016 03:42 ET (07:42 GMT)
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