Accsys Technologies Share Discussion Threads

[this_is_me] 03/1/2020 18:22

The registrar is responsible for returning money to your stockbroker within 10 business days. In fact the money was received by my broker, Charles Stanley, this morning and my CREST account is now up to date with the shares and returned cash. The FX rate used was 1.1656 Euro per GBP. Those of you who do not actually own the shares (because they are legally owned by a nominee account) and whose names do not appear on the share register like mine does, may have to wait until the broker sorts it all out, hopefully by allocating the correct number of shares and correct amount of refund to everyone.

[jadeticl3] 03/1/2020 16:49

I asked Selftrade to buy extra shares for me, and the money went from my account. However, as yet I have no idea how many shares they were able to buy. I have asked them, but they don’t know yet!!
Does anyone know what is happening?

[ryesloan] 03/1/2020 13:53

I'm still waiting for AJ Bell to sort this out...I assume the excess was pro rata due to the over subscription but they are still doing the Hokey Cokey with my holding so we still await the final outcome!But yeah I took the opp. to add a good chunk as I seriously liked the size of the raise and the plans for it. So far the market seems to be agreeing!!

[this_is_me] 02/1/2020 18:14

It looks like taking up the maximum I could in the open offer was a great idea.

[this_is_me] 02/1/2020 18:14

It looks like taking up the maximum I could in the open offer was a great idea.

[hatfullofsky] 24/12/2019 16:03

Show me another company as undervalued as this ?Already running at full capacity, funded for growth, with a loyal customer base and significant backlog and own IP. Already generating fantastic revenue.Smack down, slam dunk. A little Christmas cheer but what prospects we have.

[ryesloan] 24/12/2019 10:05

Agree with that. With the huge fund raise now complete we should see a steady climb from here. A clear path to increasing revenues and increasing margins has been laid out.We have excellent partners (who I have no doubt are fully committed to Hull) and an excellent product. Allied to a strengthened management team I took up my open offer and looking forward to a long climb from here!!

[this_is_me] 23/12/2019 10:17

They can't make enough of the stuff to meet demand. The profit projections are very big and look realistic, something that the other partners will know all the detail on.. You are likely to miss out if you don't take at least a small risk on a small initial investment.

[this_is_me] 13/12/2019 06:49

The £ is up the cost of the open offer is down.

[gwr7] 06/12/2019 21:19

Aye, doesn't make Engie Fabricom look good. The construction plan was found wanting as the foundations couldn't support the building and we're footing the bill. Poor site selection? Inadequate ground survey? Who knows. Maybe that's why Clegg is out. Glad to see him go anyway.

[hatfullofsky] 06/12/2019 15:57

Whoops - This extensive project is due to be completed in Spring 2019

[hatfullofsky] 06/12/2019 15:55

Barc had the option and then removed it. Will enable again at a GBX rate

[this_is_me] 05/12/2019 22:12

It is all in the prospectus. if you have your shares in CREST or a share certificate you should have got one; if you don't really own the shares (i.e. they are in a nominee account) you will not have got one.

[jadeticl3] 05/12/2019 21:21

Are we being allowed to buy shares at reduced price or what? I dont u derstand what is happening?

[columbarius] 04/12/2019 17:51

I've just had a read of the prospectus. I thought it was useful. I wondered who was building the Hull plant.

"Engie Fabricom is delighted to announce that they have been appointed as the main Engineering, Procurement and Construction (EPC) contractor by Tricoya Ventures UK Limited, a subsidiary of chemical technology group Accsys Technologies, for the delivery of a new, innovative Tricoya® wood chip acetylation plant at Saltend, Hull.

ENGIE Fabricom is delivering the design and build of this pioneering new facility. This exciting project is the first of its kind in the world and will deliver a significant £58 million approximate overall investment into the Hull and Humber region, as the city celebrates its year in the spotlight, having being awarded the UK City of Culture for 2017.

Utilising all of the Company’s expertise and skill sets, a project team encompassing process, procurement, mechanical, electrical, control and instrumentation, piping and civil discipline engineers, based at ENGIE Fabricom’s Immingham facility, have already started initial works with site establishment now complete and the site being de-watered and levelled.

A Front End Engineering and Design (FEED) verification has already been completed with the detailed design and engineering stages currently underway. The project team are now on site at Saltend, creating up to 130 local jobs throughout the construction of the plant.

ENGIE Fabricom will primarily self-perform the project, encompassing all stages of the development from engineering and design, procurement of the plant’s main equipment, through to the construction, testing and commissioning. Local construction company Clugston has been appointed by ENGIE Fabricom to provide collaborative support and undertake the civil engineering aspect of the project. The ground was officially broken at the site in July 2017, with the ceremony attended by representitives from the Tricoya Consortium (which includes Accsys, BP and Medite), ENGIE Fabricom, Hull City Council, South West Holderness Ward and the local team of Tricoya Ventures UK Limited.

This extensive project is due to be completed in Spring 2019 and once operational, the plant will create approximately 30 full time jobs.

ENGIE Fabricom in the Netherlands is also currently progressing with the expansion of Accsys Technologies’ Accoya® plant in Arnhem.

Wichard Huigen, Chief Executive Officer of ENGIE Fabricom, said: “We are delighted to secure this major contract which allows ENGIE Fabricom to demonstrate our expertise and experience in both engineering and construction projects. This is a significant step forward for us and will in turn enable us to further develop our EPC capabilities.

“This development provides a substantial boost to the region and ENGIE Fabricom is thrilled to be part of this major investment. The project will have a positive effect in regards to job creation throughout the build, and as such we have already strengthened our resource pool of highly respected and talented engineers. We look forward to continuing our relationship with the Tricoya team and to further establishing ourselves as the partner of choice within the EPC market.”

[hatfullofsky] 29/11/2019 14:54

Looks like lots of PI interest and a couple of 50k buys gone through today. Small volume in the scheme of things. Med Term hold waiting for positive news from Hull in 9 monthsFully funded now

[hatfullofsky] 28/11/2019 14:14

Totally agree on game changer. Now we can capitalise on our advantage. Rare for share price to increase dramatically when a Fund Raise is announced very good that it's only a 10% discount and fully underwritten

[ryesloan] 28/11/2019 09:00

Not sure you can rise this amount with a rights offer. The open offer to existing shareholders seems acceptable but the real story here is a substantial, underwritten fund raise that will facilitate huge growth and margin expansion. Very happy with today's announcement and no surprise that the price has gone up on it as it's a real game changer for the company.

[hatfullofsky] 28/11/2019 08:25

New CEO is accelerating progress in Hull and Arnhem. Delays in Hull meant extra costs and there are £7.5m of loans to repay this FY. Placing was always going to happen. Surprised by the muted reaction. Was hoping for a dip to 90p had a BO in at 92p but bit the bullet and took first position at 98p

[this_is_me] 28/11/2019 08:07

Now we know the real reason that the share price has gone down. A rights issue earlier in the year when the share price was over 110p, giving all shareholders fair treatment, would have been a much better ides.

[hatfullofsky] 28/11/2019 07:36

€46.3M placing at €1.05 / 89p

This should put a floor in the share price - Looking to buy in

New CEO has to maximise output

[this_is_me] 18/10/2019 07:15

That looks like a very good appointment.

[ryesloan] 01/10/2019 08:37

Yeah sadly I agree. Cost overruns classes as 'significant'. Compounded by Petronas being spooked a bit by that and not going to commit until end 2020 now.Progress on reactor 4 also seems slow when clearly the demand is there I would have hoped that was being progressed with urgency, esp. as you can see the impact on revenue with reactor 3 coming on line.Back to the waiting game then with AXS and my plan to get rich slow with them is delayed yet again ;-)

[columbarius] 30/9/2019 07:57

Nice spin but I envisage further delay of the Tricoya plant and associated funding requirement will weigh on the share price.