AXS Accsys Technologies Plc

TIDMAXS

RNS Number : 4093V

Accsys Technologies PLC

27 October 2014

AIM: AXS

NYSE Euronext Amsterdam: AXS

27 October

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")

Employee Benefit Trust and Directors' Interests

Further to Accsys' announcement on 30 September 2014, 945,133 EUR0.05 ordinary shares(1) in the Company ("shares") vested on 8 August 2014. These awards were granted in line with the Company's employee remuneration and incentivisation arrangements and relate to the period from 1 July 2012 to 30 June 2013.

Certain beneficiaries elected to sell a total of 361,033 shares on the open market to fund the resulting personal tax liabilities, including the executive directors whose names are set out below. These shares were sold at an average price of GBP0.66 per Ordinary Share between 15 August 2014 and 24 October 2014.

Details concerning Directors' holding in the EBT are set out below;

   Name                            Number of EUR0.05                        Number of EUR0.05 Ordinary 
   Ordinary Shares Vested              Shares subsequently 

sold

   Paul Clegg                     380,000                                     120,000 
   Hans Pauli                     135,600                                     67,600 
   William Rudge                86,533                                      46,533 

Footnote:

1 - The number of shares disclosed is after taking account of the 5 to 1 share consolidation which was effected on 12 September 2014.

Ends

For further information, please contact:

 
 Accsys Technologies               Paul Clegg, CEO                     via Blytheweigh 
  PLC                               Hans Pauli, COO 
                                    Will Rudge, FD 
                                   Nominated Adviser: Oliver 
                                    Cardigan 
                                    Corporate Broking: Christopher 
                                    Wilkinson                         +44 (0) 20 7260 
 Numis Securities                   Ben Stoop                          1000 
                                                                      +44 (0) 20 7138 
                                                                       3204 
                                                                       +44 (0) 7989 129 
                                                                       658 
                                     Paul Weigh                        +44 (0) 7989 394 
 Blytheweigh                         Alexandra Shilov                  027 
 
                                     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 focussed on the development and commercialisation of a range of transformational technologies based upon the acetylation of solid wood (Accoya(R) ) and wood elements (Tricoya(R) ) for use as class leading, environmentally sustainable construction materials. Accsys's 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, and an American office in Dallas, Texas (via its subsidiary Titan Wood, Inc). 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 wood based composites, including panel products. These composites 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, a joint venture between Accsys and INEOS Industries Holdings 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 joint venture between TWL and INEOS Industries Holdings Limited 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

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