Accsys Technologies PLC Employee Benefit Trust (1060I)

TIDMAXS

RNS Number : 1060I

Accsys Technologies PLC

04 December 2015

AIM: AXS

NYSE Euronext Amsterdam: AXS

4 December 2015

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")

Employee Benefit Trust

Accsys, the chemical technology group focused on the acetylation of wood, announces that in connection with its employee remuneration and incentivisation arrangements, the Board has resolved to issue 16,123 ordinary shares of EUR0.05 each in the capital of the Company (the "Ordinary Shares") to an Employee Benefit Trust, for the benefit of certain employees. These shares will vest in July 2016, subject to normal conditions.

These Ordinary Shares will be issued pending their admission to AIM and Euronext Amsterdam, which is expected to take place on or about 10 December 2015.

Following the issue of all the above Ordinary Shares, the Company will have a total of 89,819,795 Shares in issue.

Ends

For further information, please contact:

 
 Accsys Technologies               Paul Clegg, CEO                     via MHP Communications 
  PLC                               Hans Pauli, COO 
                                    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)      Yvonne Derkse                      [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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December 04, 2015 10:59 ET (15:59 GMT)