Accsys Technologies PLC Resignation of Director (2437L)

TIDMAXS

RNS Number : 2437L

Accsys Technologies PLC

21 December 2018

AIM: AXS

Euronext Amsterdam: AXS

21 December 2018

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")

Resignation of Director

Accsys, the chemical technology group, focused on the acetylation of wood, announces that following an internal review of its Board and Executive structure, Hans Pauli has agreed to step down as an Executive Director of the Company with effect from 31 December 2018.

Mr Pauli will remain a member of the Company's senior management team and shall also remain a director of Accsys' subsidiary companies, as well as having continued responsibility for corporate and business development.

ACCSYS TECHNOLOGIES PLC

("Accsys" of "de Vennootschap")

Terugtreden directeur

Accsys, de chemische technologiegroep met als kernactiviteit het acetyleren van hout, kondigt na een interne evaluatie van zijn bestuursstructuur aan dat Hans Pauli in goed overleg heeft ingestemd met het neerleggen van zijn functie als directeur per 31 december 2018.

De heer Pauli zal aanblijven als lid van het senior managementteam van Accsys. Tevens blijft hij directeur van de dochterondernemingen van Accsys en verantwoordelijk voor corporate en business development.

- ENDS -

For further information, please contact:

 
 Accsys Technologies               Paul Clegg, CEO           via MHP Communications 
  PLC                               Will Rudge, FD 
                                   Nominated Adviser: 
                                    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 (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 highly sustainable and environmentally 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 naturally occurring '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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December 21, 2018 02:03 ET (07:03 GMT)