ACCSYS TECHNOLOGIES PLC Company | Accsys Technologies PLC |
TIDM | AXS |
Headline | Employee Benefit Trust and Directors' Interests |
Released | 1 July 2015 |
Number | 9182R |
("Accsys" or "the Company")
Employee Benefit Trust and Directors' Interests
Further to the Company's announcement on 12 August 2014, awards over 746,214 €0.05 ordinary
shares1 in the Company ("shares") held by the Accsys Employee Benefit Trust ('EBT') vested on 1 July
2015. These awards were granted in line with the Company's employee remuneration and incentivisation arrangements and related to the year ended 31 March 2014.
Certain beneficiaries elected to sell a total of 390,683 shares on the open market, including Executive Directors in order to fund the resulting personal tax liabilities, as set out below. These shares were sold at a price of £0.70 per share on 1 July 2015.
Details concerning Directors' holding in the EBT are set out below:
Name | Number of €0.05 Ordinary Shares Vested | Number of €0.05 Ordinary Shares sold |
Paul Clegg | 302,261 | 151,131 |
Hans Pauli | 101,700 | 40,000 |
William Rudge | 69,355 | 34,677 |
Accsys also announces that the following Non-executive Directors purchased a total of 119,715 shares on 1 July 2015 at a price of £0.70 per share:
Name Number of €0.05
Ordinary Shares purchased
Sean Christie 70,000
Nick Meyer 14,285
Patrick Shanley 35,430
Footnote:
1 - The number of shares disclosed is after taking account of the 5 to 1 share consolidation which was effected on 12 September 2014.
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For further information, please contact:Accsys Technologies PLC | Paul Clegg, CEO Hans Pauli, COO Will Rudge, FD | via MHP Communications |
Numis Securities | Nominated Adviser: Oliver Cardigan Corporate Broking: Christopher Wilkinson Ben Stoop | +44 (0) 20 7260 1000 |
MHP Communications | Tim Rowntree James White Tess Harris | +44 (0) 20 3128 8100 |
Off the Grid (The Netherlands) | Frank Neervoort Giedo Van Der Zwan | +31 681 734 236 +31 624 212 238 |
Accsys Technologies PLC (www.accsysplc.com) is a chemical technology group whose primary focus is on the production of Accoya® 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 Windsor, United Kingdom, an American office in Dallas, Texas (via its subsidiary Titan Wood, Inc) and technology licencing associated with the acetylation of wood elements via its subsidiary Tricoya Technologies Limited. All group subsidiaries are ultimately 100% owned by Accsys and trade as Accsys Technologies. 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 by NYSE Euronext, under the symbols 'AXS'. Accsys' operations comprise three principal business units: (i) Accoya® 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® wood and Tricoya® wood elements across the globe.
Accoya® 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® 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® 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® 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® news, visit www.accoya.com/news.asp.
Tricoya® 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® Wood Elements is carried out through Tricoya Technologies Limited. Tricoya® 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.2
Accsys Technologies is the trading name of Titan Wood Limited. ACCOYA®, TRICOYA® 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® registered trademark, from Tricoya Technologies Limited, a wholly owned subsidiary of TWL with exclusive rights to exploit the Tricoya® brand.
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