Accsys Technologies PLC Employee Benefit Trust and Directors' Interests (7852E)

TIDMAXS

RNS Number : 7852E

Accsys Technologies PLC

20 July 2016

AIM: AXS

Euronext Amsterdam: AXS

20 July 2016

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")

Employee Benefit Trust and Directors' Interests

Further to the Company's previous announcements, including on 30 June 2015, awards over 938,449 ordinary shares of EUR0.05 each in the Company ("Shares") held by the Accsys Employee Benefit Trust ('EBT') vested on 15 July 2016. These awards were granted in line with the Company's employee remuneration and incentivisation arrangements and related to the year ended 31 March 2015.

Certain beneficiaries elected to sell a total of 498,318 Shares on the open market to fund the resulting personal tax liabilities (amongst other reasons), including the executive directors whose names are set out below. 266,000 shares were sold at GBP0.651353 per Share on 15 July 2016 and 232,318 were sold on 19 July 2016 at GBP0.614079 per Share. The Venue of Execution was The London Stock Exchange (XLON).

Details concerning Directors' Share sales from the EBT are set out below;

 
     Name       Number of EUR0.05   Number of EUR0.05       Number of EUR0.05        Number of EUR0.05 
                  Shares vested     Shares subsequently   of Shares subsequently   of Shares subsequently 
                                           sold              sold on 15 July          sold on 19 July 
                                                                   2016                     2016 
--------------  -----------------  --------------------  -----------------------  ----------------------- 
Paul Clegg                266,549               166,549                   83,274                   83,275 
--------------  -----------------  --------------------  -----------------------  ----------------------- 
Hans Pauli                106,942                56,942                   28,471                   28,471 
--------------  -----------------  --------------------  -----------------------  ----------------------- 
William Rudge              81,547                40,773                   20,386                   20,387 
--------------  -----------------  --------------------  -----------------------  ----------------------- 
 

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                          [phone] 
 Numis Securities                   Ben Stoop                           1000 
                                   Tim Rowntree 
                                    James White                        [phone] 
 MHP Communications                 Tess Harris                         8100 
 
                                     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 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

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July 20, 2016 11:37 ET (15:37 GMT)