Accsys Technologies PLC Issue of Equity (8298F)

TIDMAXS

RNS Number : 8298F

Accsys Technologies PLC

23 February 2018

23 February 2018 AIM: AXS

Euronext Amsterdam: AXS

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")

Issuance of Shares

Accsys, the chemical technology group focused on the highly sustainable acetylation of wood, announces the issue of 143,511 new ordinary shares of EUR0.05 each in the Company ("Shares") to an ex-employee.

118,511 of these Shares have been conditionally issued and allotted following the exercise of nil cost options, granted in 2013 under the Company's 2013 Long Term Incentive Plan ("LTIP"), with the balance of 25,000 Shares conditionally issued and allotted as part of the individual's severance terms.

The Shares will be issued pending (amongst other things) admission to AIM and Euronext Amsterdam, which is expected to take place on or about 26 February 2018. Following the issue of the above Shares, the Company will have a total of 111,513,145 Shares in issue.

ACCSYS TECHNOLOGIES PLC

("Accsys" of "de Vennootschap")

Uitgifte van aandelen

Accsys, de chemische technologiegroep die zich richt op de zeer duurzame acetylatie van hout, maakt de uitgifte bekend van 143.511 nieuwe, gewone aandelen in de Vennootschap ("Aandelen") van EUR 0,05 per aandeel aan een voormalig medewerker.

118.511 van deze Aandelen zijn voorwaardelijk uitgegeven en toegekend volgend op de uitoefening van zero-cost opties, welke in 2013 zijn toegekend onder het Long-Term Incentive Plan (LTIP) van de Vennootschap, daterend uit 2013. De resterende 25.000 Aandelen zijn voorwaardelijk uitgegeven en toegekend als onderdeel van de vertrekregeling van de persoon in kwestie.

De Aandelen zullen worden uitgegeven na (onder andere) toelating tot de AIM en Euronext Amsterdam. Dit zal naar verwachting plaatsvinden op of rond 26 februari 2018. Na de uitgifte van de hiervoor genoemde Aandelen beschikt de Vennootschap over in totaal 111.513.145 uitgegeven Aandelen.

Ends

For further information, please contact:

 
 Accsys Technologies    Paul Clegg, CEO                       via MHP Communications 
  PLC                    Will Rudge, FD 
                         Hans Pauli, Executive Director, 
                         Corporate Development 
                        Nominated Adviser: Oliver Cardigan 
                         Jamie Lillywhite 
                         Corporate Broking: Christopher 
                         Wilkinson                            [phone] 
 Numis Securities        Ben Stoop                             1000 
                        Tim Rowntree                          [phone] 
 MHP Communications      Kelsey Traynor                        8100 
                                                              [phone] 
                                                               236 
 Off the Grid           Frank Neervoort                        [phone] 
  (The Netherlands)      Yvonne Derske                         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.

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 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 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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February 23, 2018 10:05 ET (15:05 GMT)