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 Notifiable Interest - Majedie Asset Management

17/09/2019 6:03pm

UK Regulatory (RNS & others)


Accsys Technologies (LSE:AXS)
Historical Stock Chart

3 Months : From Aug 2019 to Nov 2019

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TIDMAXS

RNS Number : 6806M

Accsys Technologies PLC

17 September 2019

17 September 2019

AIM: AXS

Euronext Amsterdam: AXS

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")

Notifiable Interest

 
 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                                       BQQG1H7 
  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                                                Majedie Asset Management Limited 
 City and country of registered office               London, UK 
  (if applicable) 
 4. Full name of shareholder(s) (if different from 3.)(v) 
 Name                                                LF Majedie UK Equity Fund, LF Majedie 
                                                      UK Smaller Companies Fund, Discretionary 
                                                      Portfolios 
                                                    ------------------------------------------------------- 
 City and country of registered office 
  (if applicable) 
                                                    ------------------------------------------------------- 
 5. Date on which the threshold was                  13/09/2019 
  crossed or reached(vi) : 
                                                    ------------------------------------------------------- 
 6. Date on which issuer notified (DD/MM/YYYY):      17/09/2019 
                                                    ------------------------------------------------------- 
 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                   4.99                                       4.99            117,988,305 
                              --------------------  -------------------  --------------  ------------------ 
 Position of 
  previous notification 
  (if 
  applicable)                  5.06                                       5.06 
                              --------------------  -------------------  --------------  ------------------ 
 
 
 
 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                             5,889,919                                                   4.99 
                   --------------------  ---------------------  -----------------------------------  --------------------- 
 
 
 SUBTOTAL 8. A                      5,889,919                                              4.99 
                   -------------------------------------------  ---------------------------------------------------------- 
 
 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              rights that may                      rights 
  instrument                              Period(xi)              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                           x 
  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 
  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 
                          if it equals or               through financial          it equals or is 
                         is higher than the             instruments if it          higher than the 
                        notifiable threshold           equals or is higher       notifiable threshold 
                                                       than the notifiable 
                                                            threshold 
                 --------------------------------  -------------------------  ------------------------ 
 
 
 
 
 
 
 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, UK 
 Date of completion    17/09/2019 
                      ----------- 
 

For further information, please contact:

 
 Accsys Technologies PLC                       via FTI Consulting 
  Paul Clegg, CEO 
  Will Rudge, FD 
 
   Numis Securities - Nominated Adviser and 
   Joint Broker 
   Nominated Adviser: Oliver Hardy 
   Corporate Broking: Christopher Wilkinson      +44 (0) 20 7260 
   / 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 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 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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September 17, 2019 13:03 ET (17:03 GMT)

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