Accsys Technologies PLC Notifiable Interest - Teslin Participaties (6521H)

TIDMAXS

RNS Number : 6521H

Accsys Technologies PLC

02 August 2019

2 August 2019 AIM: AXS

Euronext Amsterdam: AXS

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")

Notifiable Interest

 
                                  TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 
 
 1. Identity of the issuer or the underlying                                                 ACCSYS TECHNOLOGIES PLC 
  issuer 
  of existing shares to which voting rights 
  are 
  attached: (ii) 
                                                                          ------------------------------------------ 
 2 Reason for the notification (please tick the appropriate box or boxes): 
 An acquisition or disposal of voting rights                                                     X 
----------------------------------------------------------------------------  -------------------------------------- 
 An acquisition or disposal of qualifying financial instruments 
  which may result in the acquisition of shares already issued to 
  which voting rights are attached 
----------------------------------------------------------------------------  -------------------------------------- 
 An acquisition or disposal of instruments with similar economic 
  effect to qualifying financial instruments 
----------------------------------------------------------------------------  -------------------------------------- 
 An event changing the breakdown of voting rights 
----------------------------------------------------------------------------  -------------------------------------- 
 Other (please 
  specify): 
-----------------------------------------------------------------------  ---  -------------------------------------- 
 3. Full name of person(s) subject                                             Teslin Participaties Coöperatief 
  to the                                                                                                        U.A. 
  notification obligation: (iii) 
                                                                          ------------------------------------------ 
 4. Full name of shareholder(s) 
  (if different from 3.):(iv) 
                                                                          ------------------------------------------ 
 5. Date of the transaction and date                                                              July 30(th) , 2019 
  on 
  which the threshold is crossed 
  or 
  reached: (v) 
                                                                          ------------------------------------------ 
 6. Date on which issuer notified:                                                                July 30(th) , 2019 
                                                                          ------------------------------------------ 
 7. Threshold(s) that is/are crossed 
  or 
  reached: (vi, vii)                                                                                           13.0% 
                                                                          ------------------------------------------ 
 
 
 
 8. Notified details: 
 A: Voting rights attached to shares (viii, ix) 
 Class/type      Situation previous                    Resulting situation after the triggering 
 of               to the triggering                     transaction 
 shares           transaction 
 
 if possible 
 using 
 the ISIN CODE 
                ------------------------------------  ------------------------------------------------------- 
                 Number                  Number        Number       Number of voting        % of voting 
                  of                      of           of shares     rights                  rights (x) 
                  Shares                  Voting 
                                          Rights 
                ----------------------  ------------  -----------  ----------------------  ------------------ 
                                                       Direct       Direct       Indirect   Direct   Indirect 
                                                                    (xi)         (xii) 
                ---------  -----------  ------------  -----------  -----------  ---------  -------  --------- 
 GB00BQQFX454    15,244,844              15,244,844    15,484,844   15,484,844   n.a.       13.12%   n.a.% 
                ----------------------  ------------  -----------  -----------  ---------  -------  --------- 
 
 
 B: Qualifying Financial Instruments 
 Resulting situation after the triggering transaction 
 Type of         Expiration              Exercise/     Number of voting                     % of voting 
  financial       date (xiii)            Conversion     rights that may                      rights 
  instrument                             Period         be 
                                         (xiv)          acquired if the 
                                                        instrument is 
                                                        exercised/ converted. 
                ----------------------  ------------  -----------------------------------  ------------------ 
 
 
 C: Financial Instruments with similar economic effect to Qualifying Financial 
  Instruments (xv, xvi) 
 Resulting situation after the triggering transaction 
 Type of         Exercise   Expiration   Exercise/     Number of voting          % of voting rights 
  financial      price      date         Conversion     rights instrument         (xix, xx) 
  instrument                (xvii)       period         refers to 
                                         (xviii) 
                ---------  -----------  ------------  ------------------------  ----------------------------- 
                                                                                 Nominal             Delta 
                ---------  -----------  ------------  ------------------------  ------------------  --------- 
 
 
 
 
 
 Total (A+B+C) 
 Number of voting rights   Percentage of voting rights 
                          ---------------------------- 
 15,244,844                13.12% 
                          ---------------------------- 
 
 
 9. Chain of controlled undertakings through which the voting rights and/or 
  the 
  financial instruments are effectively held, if applicable: (xxi) 
 
 
 Proxy Voting: 
 10. Name of the proxy holder: 
 
 11. Number of voting rights proxy holder will 
  cease 
  to hold: 
 
 12. Date on which proxy holder will cease to 
  hold 
  voting rights: 
 
 
 
  13. Additional information: 
 14. Contact name: 
                                                                             ---- 
 15. Contact telephone number: 
                                                                             ---- 
 
 

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      [phone] 
   / Ben Stoop                                   1000 
 
   Investec Bank plc - Joint Broker 
   Carlton Nelson 
   James Rudd                                    [phone] 
   Alex Wright                                   5970 
 FTI Consulting 
  Matthew O'Keeffe                             [phone] 
  Alex Le May                                   1340 
 
   Off the Grid (The Netherlands) 
   Frank Neervoort                               [phone] 
   Yvonne Derske                                 [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 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.

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August 02, 2019 02:01 ET (06:01 GMT)