Accsys Technologies PLC Notifiable Interest - Ineos (8015L)

TIDMAXS

RNS Number : 8015L

Accsys Technologies PLC

21 July 2017

 
 
Company   Accsys Technologies PLC 
 TIDM      AXS 
 Headline  Notifiable Interest 
 Released  21(st) July 2017 
 Number 
 

AIM: AXS

Euronext Amsterdam: AXS

21 July 2017

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")

Notifiable Interest

TR-1: Standard form for notification of major holdings

 
 NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and 
  to the FCA in Microsoft Word format if possible)(i) 
--------------------------------------------------------------------------------------------------------- 
 
 1a. Identity of the issuer or the                                      Accsys Technologies PLC 
  underlying issuer of existing shares 
  to which voting rights are attached(ii) 
  : 
-----------------------------------------------------------  -------------------------------------------- 
 1b. Please indicate if the issuer is a non-UK issuer (please mark with 
  an "X" if appropriate) 
--------------------------------------------------------------------------------------------------------- 
 Non-UK issuer 
---------------------------------------------------------------------------------------------------  ---- 
 2. Reason for the notification (please mark the appropriate box or boxes 
  with an "X") 
--------------------------------------------------------------------------------------------------------- 
 An acquisition or disposal of voting rights                                                           X 
---------------------------------------------------------------------------------------------------  ---- 
 An acquisition or disposal of financial instruments 
---------------------------------------------------------------------------------------------------  ---- 
 An event changing the breakdown of voting rights 
---------------------------------------------------------------------------------------------------  ---- 
 Other (please specify)(iii) : 
---------------------------------------------------------------------------------------------------  ---- 
 3. Details of person subject to the notification obligation(iv) 
 Name                                                                INEOS INDUSTRIES HOLDINGS LTD 
 City and country of registered office                                       Lyndhurst, UK 
  (if applicable) 
 4. Full name of shareholder(s) (if different from 3.)(v) 
--------------------------------------------------------------------------------------------------------- 
 Name 
-----------------------------------------------------------  -------------------------------------------- 
 City and country of registered office 
  (if applicable) 
-----------------------------------------------------------  -------------------------------------------- 
 5. Date on which the threshold was                                        20(th) July 2017 
  crossed or reached(vi) : 
-----------------------------------------------------------  -------------------------------------------- 
 6. Date on which issuer notified (DD/MM/YYYY):                            21(st) July 2017 
-----------------------------------------------------------  -------------------------------------------- 
 7. Total positions of person(s) subject to the notification obligation 
--------------------------------------------------------------------------------------------------------- 
                              % of voting       % of voting rights    Total of both   Total number 
                            rights attached      through financial     in % (8.A +     of voting rights 
                            to shares (total        instruments            8.B)        of issuer(vii) 
                                of 8. A)           (total of 8.B 
                                                    1 + 8.B 2) 
------------------------  ------------------  ---------------------  --------------  -------------------- 
 Resulting situation 
  on the date 
  on which threshold 
  was crossed 
  or reached                    3.984%                                   3.984%            4,425,882 
------------------------  ------------------  ---------------------  --------------  -------------------- 
 Position of 
  previous notification 
  (if 
  applicable)                    4.24%                                    4.24% 
------------------------  ------------------  ---------------------  --------------  -------------------- 
 
 
 
 8. Notified details of the resulting situation on the date on which the 
  threshold was crossed or reached(viii) 
---------------------------------------------------------------------------------------------------------------------------- 
 A: Voting rights attached to shares 
---------------------------------------------------------------------------------------------------------------------------- 
 Class/type of      Number of voting rights(ix)                              % of voting rights 
  shares 
  ISIN code (if 
  possible) 
----------------- 
                            Direct                      Indirect                      Direct                  Indirect 
                      (Art 9 of Directive         (Art 10 of Directive          (Art 9 of Directive     (Art 10 of Directive 
                          2004/109/EC)                2004/109/EC)             2004/109/EC) (DTR5.1)        2004/109/EC) 
                            (DTR5.1)                   (DTR5.2.1)                                            (DTR5.2.1) 
------------  ---  ------------------------  -----------------------------  -------------------------  --------------------- 
 GB00BQQFX454              4,425,882                                                  3.984% 
-----------------  ------------------------  -----------------------------  -------------------------  --------------------- 
 
 
 SUBTOTAL 8. A                            4,425,882                                              3.984% 
-----------------  -------------------------------------------------------  ------------------------------------------------ 
 
 B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC 
  (DTR5.3.1.1 (a)) 
---------------------------------------------------------------------------------------------------------------------------- 
 Type of            Expiration   Exercise/                            Number of voting                  % of voting 
  financial          date(x)      Conversion Period(xi)                rights that may                   rights 
  instrument                                                           be acquired if 
                                                                       the instrument 
                                                                       is 
                                                                       exercised/converted. 
-----------------  -----------  -----------------------------------  --------------------------------  --------------------- 
 
 
 
                                 SUBTOTAL 8. B 1 
                                -----------------------------------  --------------------------------  --------------------- 
 
 B 2: Financial Instruments with similar economic effect according to 
  Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) 
---------------------------------------------------------------------------------------------------------------------------- 
 Type of       Expiration        Exercise/               Physical or              Number of             % of voting 
  financial     date(x)           Conversion              cash                     voting rights         rights 
  instrument                      Period (xi)             settlement(xii) 
------------  ----------------  ----------------------  -----------------------  --------------------  --------------------- 
 
 
 
                                                         SUBTOTAL 8.B.2 
                                                        -----------------------  --------------------  --------------------- 
 
 
 
 
 9. Information in relation to the person subject to the notification 
  obligation (please mark the 
  applicable box with an "X") 
 Person subject to the notification obligation is not controlled 
  by any natural person or legal entity and does not control any other 
  undertaking(s) holding directly or indirectly an interest in the 
  (underlying) issuer(xiii) 
 Full chain of controlled undertakings through which the voting rights                        X 
  and/or the 
  financial instruments are effectively held starting with the ultimate 
  controlling natural person or legal entity(xiv) (please add additional 
  rows as necessary) 
------------------------------------------------------------------------------------------  ----- 
          Name(xv)             % of voting rights    % of voting rights        Total of both 
                                 if it equals or      through financial         if it equals 
                                 is higher than       instruments if it         or is higher 
                                 the notifiable      equals or is higher     than the notifiable 
                                    threshold        than the notifiable          threshold 
                                                          threshold 
----------------------------  -------------------  ---------------------  ----------------------- 
 James Arthur Ratcliffe 
  (Controlling shareholder)          2.338% 
----------------------------  -------------------  ---------------------  ----------------------- 
 INEOS Limited                       3.984% 
----------------------------  -------------------  ---------------------  ----------------------- 
 INEOS AG 
  (100% subsidiary 
  of above)                          3.984% 
----------------------------  -------------------  ---------------------  ----------------------- 
 INEOS Industries 
  Limited 
  (100% subsidiary 
  of above)                          3.984% 

----------------------------  -------------------  ---------------------  ----------------------- 
 INEOS Industries 
  Holdings Limited 
  (100% subsidiary 
  of above)                          3.984% 
----------------------------  -------------------  ---------------------  ----------------------- 
 
 10. In case of proxy voting, please identify: 
------------------------------------------------------------------------------------------------- 
 Name of the proxy holder 
------------------------------------------------------------------------------------------------- 
 The number and % of voting rights 
  held 
-------------------------------------------------  ---------------------------------------------- 
 The date until which the voting rights 
  will be held 
-------------------------------------------------  ---------------------------------------------- 
 
 11. Additional information(xvi) 
------------------------------------------------------------------------------------------------- 
 
 
 
 
 
 Place of completion        London 
--------------------  ----------------- 
 Date of completion    20(th) July 2017 
--------------------  ----------------- 
 

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 
                                   Frank Neervoort                     [phone] 
 Off the Grid (The Netherlands)     Yvonne Derkse                       [phone] 
 

Notes to editors:

Accsys Technologies PLC (http://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 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 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 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

END

HOLBSGDRIUDBGRB

(END) Dow Jones Newswires

July 21, 2017 11:05 ET (15:05 GMT)