Accsys Technologies PLC Result of Annual General Meeting (4685R)

TIDMAXS

RNS Number : 4685R

Accsys Technologies PLC

11 September 2014

AIM: AXS

NYSE Euronext Amsterdam: AXS

11 September 2014

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")

Result of Annual General Meeting

The Board of Accsys Technologies PLC announces that its Annual General Meeting was held at 3.00 p.m. (UK time) on the 11 September 2014. All resolutions, as set out in the Notice of Annual General Meeting, dated 19 August 2014 were duly passed.

The final proxy voting position is shown below. Any proxy votes which are at the discretion of the Chairman have been included in the "For" total.

Further to the passing of Resolution 8 (share consolidation), the entire issued share capital of the Company shall be consolidated on a 5:1 basis from 443,734,861 ordinary shares of EUR0.01 each into 88,746,972 ordinary shares of EUR0.05 eachwith effect (pending admission of the shares to AIM and Euronext Amsterdam) from Friday 12 September 2014.

As noted in Accsys' AGM Notice of 19 August 2014, the currency of the Company's quote on the 'AIM' market of the London Stock Exchange will now be changed from Euro to Sterling, with effect from 12 September 2014. The denomination of the entire issued share capital of the Company will continue to be in Euro, as will the currency of the quote on Euronext Amsterdam. The currency change on AIM reflects investment community sentiment and is being effected in line with external advice. It is anticipated that the change will make the Company's share capital increasingly accessible to investors and will generally promote the success of the Company.

 
 No.               Resolutions                    For        Against     Vote Withheld    % Vote 
              (Please refer to Notice                                                     Cast For 
             of Meeting for full text) 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
 
               Ordinary Resolutions 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To receive and adopt the 
        Annual Report and Financial 
        Statements of the Company 
        for the year ended 31 
        March 2014 together with 
        the Reports of the Directors 
  1     and Auditors thereon                  150,339,575     5,000         26,000          99.9% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To approve the Directors' 
        remuneration report (excluding 
        the Directors' remuneration 
        policy) for the year ending 
  2     31 March 2014                         134,997,813   15,326,762      46,000          89.8% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To approve the Directors' 
  3     remuneration policy                   121,729,276   15,343,475    13,297,824        88.8% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To re-elect Montague John 
        (Nick) Meyer as a Director 
  4     of the Company                        135,045,813   15,298,762      26,000          89.8% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To re-elect Johannes Catharina 
        Hermanus Leonardus (Hans) 
        Pauli as a Director of 
  5     the Company                           135,057,813   15,286,762      26,000          89.8% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To re-appoint PricewaterhouseCoopers 
        LLP as auditors of the 
  6     Company                               150,319,575     25,000        26,000          99.9% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To authorise the Directors 
        to determine the auditors' 
  7     remuneration                          150,317,575     25,000        28,000          99.9% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To approve the consolidation 
        of the entire issued share 
  8     capital of the Company                150,317,262     27,313        26,000          99.9% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To authorise the Directors 
  9     to allot shares generally             150,297,262     35,313        38,000          99.9% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
               Special Resolutions 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To authorise the Directors 
        to allot shares for cash 
        disapplying statutory 
 10     pre-emption rights                    145,286,452   5,058,123       26,000          96.6% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
       To authorise the Company 
        to make market purchases 
 11     of its own ordinary shares            135,023,813   15,308,762      38,000          89.8% 
----  -------------------------------------  ------------  -----------  --------------  ---------- 
 

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] 
                                                                       658 
                                     Paul Weigh                        [phone] 
 Blytheweigh                         Alexandra 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 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

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