Share Name Share Symbol Market Type Share ISIN Share Description
Accsys Technologies Plc LSE:AXS London Ordinary Share GB00BQQFX454 ORD EUR0.05
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.10 0.1% 98.30 97.60 99.00 99.00 99.00 99.00 854 16:35:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 64.8 -6.6 -4.3 - 116

Accsys Technologies PLC AGM Results

30/09/2019 5:17pm

UK Regulatory (RNS & others)


Accsys Technologies (LSE:AXS)
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RNS Number : 2254O

Accsys Technologies PLC

30 September 2019

AIM: AXS

Euronext Amsterdam: AXS

30 September 2019

Accsys Technologies PLC

("Accsys")

Result of Annual General Meeting

The Board of Accsys Technologies PLC announces that its Annual General Meeting was held at 11.45 a.m. (UK time) on the 30 September 2019. All resolutions, as set out in the Notice of Annual General Meeting, dated 12 August 2019 were duly passed.

The final voting position is shown below (inclusive of proxy votes cast prior to and at the Meeting). Any proxy votes which are at the discretion of the Chairman have been included in the "For" total.

 
 
 No.   Resolutions                                For          Against   Vote Withheld   % Vote 
        (Please refer to Notice of Meeting                                                Cast 
        for full text)                                                                    For 
----  -----------------------------------------  -----------  --------  --------------  ------- 
       Ordinary Resolutions 
      -----------------------------------------  -----------  --------  --------------  ------- 
       To receive and adopt the audited 
        financial statements for the 
        financial year ended 31 March 
        2019, together with the reports 
 1      of the Directors and auditors             60,326,832   151,515       1,383       99.75 
      -----------------------------------------  -----------  --------  --------------  ------- 
       To approve the Directors' Remuneration 
        Report for the financial year 
        ended 31 March 2019 (excluding 
 2      the Remuneration Policy)                  60,312,222   164,836       2,672       99.73 
      -----------------------------------------  -----------  --------  --------------  ------- 
       To re-elect Patrick Shanley 
 3      as a Director of the Company              60,049,643   411,955      18,132       99.32 
      -----------------------------------------  -----------  --------  --------------  ------- 
       To re-elect William Bickerton 
 4      Rudge as a Director of the Company        60,320,914   158,498        318        99.74 
      -----------------------------------------  -----------  --------  --------------  ------- 
       To re-appoint PricewaterhouseCoopers 
 5      LLP as auditors of the Company            60,324,779   152,898       2,053       99.75 
      -----------------------------------------  -----------  --------  --------------  ------- 
       To authorise the Directors to 
 6      determine the auditors' remuneration      60,326,832   151,515       1,383       99.75 
      -----------------------------------------  -----------  --------  --------------  ------- 
       To authorise the Directors to 
 7      allot shares generally                    60,318,489   161,241         -         99.73 
      -----------------------------------------  -----------  --------  --------------  ------- 
       Special Resolutions 
      -----------------------------------------  -----------  --------  --------------  ------- 
       To empower the Directors to 
        allot shares for cash (other 
 8      than pro rata to existing shareholders)   60,304,102   173,575       2,053       99.71 
      -----------------------------------------  -----------  --------  --------------  ------- 
       To authorise the Company to 
        make market purchases of its 
 9      own ordinary shares                       60,308,322   171,408         -         99.72 
      -----------------------------------------  -----------  --------  --------------  ------- 
 

(1) Discounting Votes Withheld

Ends

For further information, please contact:

 
 Accsys Technologies PLC                        via FTI Consulting 
  Paul Clegg, CEO 
  Will Rudge, FD 
 
   Numis Securities - NOMAD and Joint Broker 
   Oliver Hardy (NOMAD)                           +44 (0) 20 7260 
   Christopher Wilkinson / Ben Stoop              1000 
 
   Investec Bank plc - Joint Broker 
   Carlton Nelson 
   James Rudd                                     +44 (0) 20 7597 
   Alex Wright                                    5970 
 FTI Consulting 
  Matthew O'Keeffe                              +44 (0) 20 3727 
  Alex Le May                                    1340 
 
   Off the Grid (The Netherlands) 
   Frank Neervoort                                +31 681 734 236 
   Yvonne Derske                                  +31 222 379 666 
 

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 Tricoya(R) wood elements, 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 London, United Kingdom, an American office in Dallas, Texas (via its subsidiary Titan Wood, Inc.) and technology licensing associated with the acetylation of wood elements via its subsidiary Tricoya Technologies Limited. 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, under the symbols 'AXS'. Accsys' operations comprise four principal business units: (i) Accoya(R) wood production; (ii) building and operating of Tricoya(R) wood chip acetylation plant in Hull; (iii) 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 (iv) the licensing of technology for the production of Accoya(R) wood and Tricoya(R) wood elements across the globe.

Tricoya(R) Consortium In March 2017, Accsys announced the formation of the Tricoya(R) Consortium to fund, build and operate the Tricoya(R) plant in Hull, UK. Members of the consortium include BP and the leading manufacturer of sustainable wood-based panels, MEDITE Europe DAC. Tricoya Ventures UK Ltd (TVUK), a subsidiary of Accsys, owns and will operate the Tricoya(R) plant. TTL exploits all Tricoya(R) related intellectual property and benefits from any Tricoya(R) related revenues other than those generated by the Tricoya(R) plant. The Tricoya(R) plant is expected to have an initial capacity of 30,000 metric tonnes of Tricoya(R) chips per annum, enough to produce approximately 40,000m(3) of Tricoya(R) panel products per annum. The Tricoya(R) plant is expected to reach EBITDA breakeven at approximately 40% design capacity and to take approximately four years to reach full capacity following completion. The location of the Tricoya(R) plant at Saltend Chemicals Park in Hull allows for expansion when market conditions dictate.

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. Moreover, the Accoya(R) wood production process does not compromise the wood's strength or machinability. The combination of 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.

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' and 'Accsys Technologies' are trading names 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 subsidiary of TWL with exclusive rights to exploit the Tricoya(R) brand.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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