Accsys Technologies PLC Directors' Interests and Employee Share Plan (9493O)

TIDMAXS

RNS Number : 9493O

Accsys Technologies PLC

12 August 2014

AIM: AXS

NYSE Euronext Amsterdam: AXS

12 August 2014

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")

Directors' Interests and Accsys Employee Share Participation Plan

Accsys, the chemical technology group focused on the acetylation of wood, previously established an Employee Share Participation Plan (the "Plan") intended to promote the long term growth and profitability of Accsys by providing employees with an opportunity to acquire an ownership interest in new ordinary shares in the Company ("Shares") as an additional benefit of employment.

Under the terms of the Plan, the Company issues Shares to a trust for the benefit of the subscribing employees with the Shares to be released to employees after one year, together with an additional Share on a 1 for 1 matched basis provided the employee remains in the employment of Accsys at that point in time (the "Matching Shares"). The Plan is in line with industry approved employee share plans and is open for subscription by employees twice a year following release of annual and half yearly financial results.

Following the Company's announcement on 23 July 2013, a total of 497,854 Shares were issued on 12 August 2013 to this trust for the benefit of a number of employees under the terms of the Plan. Subject to all of these beneficiaries remaining employed by Accsys on 12 August 2014 and pursuant to the Plan, a further 497,854 Shares will (pending admission of the Shares to AIM and Euronext ("Admission")) be issued at nominal value of EUR0.01 each and released to the employees together with the Shares issued to the trust last year. This includes Matching Shares to be issued for the benefit of Hans Pauli and William Rudge, executive directors of the Company as follows:

   Hans Pauli :        17,857 

William Rudge : 17,857

In addition, following the release of the Company's Preliminary Announcement of Results for the year ended 31 March 2014, Accsys announces that, through the Plan, various employees have subscribed for a total of 139,125 Shares at an acquisition price of EUR0.23 per Share (being the closing price of shares in the Company on 16 July 2014 on Euronext Amsterdam, the closing date for subscriptions of Shares under the Plan, the "July Subscription").

The Company also announces that in connection with employee remuneration and incentivisation arrangements and in respect of the year ended 31 March 2014, following recommendation from the nomination and remuneration committee of the Company, the Board has resolved to issue Ordinary Shares to an Employee Benefit Trust, the beneficiaries of which include executive Directors.

Such Ordinary Shares shall vest if the employees, including the executive Directors, remain in employment with the Company to the vesting date, being 1 July 2015 (subject to certain other provisions including regulatory, good-leaver, take-over and committee discretion provisions).

A total of 3,878,018 Ordinary Shares will be issued to the Employee Benefit Trust, of which 2,366,583 relate to the executive Directors as set out below:

   Name                Number of Ordinary Shares 
   Paul Clegg :       1,511,308 
   Hans Pauli :       508,500 
   William Rudge    346,775 

All of the above Shares in the Company (in respect of both the Plan and the Employee Benefit Trust) will be issued pending admission to trading on AIM and Euronext which is expected to take place on 18 August 2014.

Following the issue of all the above Shares, the Company will have a total of 443,734,861 Shares in issue.

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                         [phone] 
 Numis Securities                   Ben Stoop                          1000 
                                                                      [phone] 
                                                                       3204 
                                                                       [phone] 
                                                                       626 
                                     Tim Blythe                        [phone] 
 Blytheweigh                         Alex Shilov                       027 
 
                                     Frank Neervoort                    [phone] 
 Off the Grid (The Netherlands)      Giedo Van Der Zwan                 [phone] 
 

Notes to editors:

Accsys Technologies PLC(www.accsysplc.com) is an environmental science and technology company 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, 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

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