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Accsys Technologies (AXS)

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Thursday 27 January, 2022

Accsys Technologies

Accsys Employee Share Participation Plan

RNS Number : 8925Z
Accsys Technologies PLC
27 January 2022
 

IM: AXS

Euronext Amsterdam: AXS

 

27 January 2022

 

Accsys Technologies PLC

("Accsys", the "Group" or the "Company")

 

Accsys Employee Share Participation Plan

 

Accsys, the fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products, announces the issue of new ordinary shares of €0.05 each in the Company ("Shares") for the benefit of employees in relation to employee incentivisation and share plan arrangements.

 

The Company previously established an Employee Share Participation Plan (the "Plan") intended to promote the long term growth and profitability of Accsys by providing employees with an opportunity to acquire an ownership interest in Shares as an additional benefit of employment. Under the terms of the Plan, the Company issues Shares to a trust for the benefit of the subscribing employees at the then market price ("Subscription Shares") with the Shares to be released to employees after one year, together with an additional Share on a 1 for 1 matched basis provided the employee remains in the employment of Accsys at that point in time or is a good leaver (the "Matching Shares").

 

Following the subscription by employees and resulting issuance of Shares under the Plan last year as announced by the Company on 15 February 2021, 189,931 Matching Shares will be issued for the benefit of various employees at nominal value of €0.05 each.

 

In addition, and again pursuant to the terms of the Plan, various employees have newly subscribed for a total of 193,424 Shares at an acquisition price of €2.015 per Share, being the closing price of Shares in the Company on 6 December 2021 on Euronext Amsterdam, the closing date for subscriptions under the Plan (the "Subscription Shares").

 

The Subscription Shares and Matching Shares (together totalling 383,355 new Shares) will be issued (subject to the rules of the Plan) on or about 31 January 2022, pending admission of the Shares to AIM and Euronext.

The total number of issued Shares following Admission will be 192,761,322 Shares. The Company does not hold any shares in treasury. Therefore, the total voting rights in the Company following Admission will be 192,761,322. This figure may be used by shareholders as the denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company's securities under the FCA's Disclosure Guidance and Transparency Rules.

 

Ends

For further information, please contact:

Accsys Technologies PLC
Sarah Ogilvie, Investor Relations

[email protected]

Numis Securities (London)
Oliver Hardy (NOMAD), Ben Stoop


+44 (0) 20 7260 1000

Investec Bank plc (London)
Carlton Nelson, Alex Wright

ABN Amro (Amsterdam)
Richard van Etten, Dennis van Helmond


+44 (0) 20 7597 5970


+31 20 344 2000

FTI Consulting (UK)
Matthew O'Keeffe, Alex Le May


+44 (0) 20 3727 1340 

Off the Grid (The Netherlands)
Frank Neervoort, Yvonne Derske


+31 681 734 236

 

Notes to editors:

 

Accsys (Accsys Technologies PLC) is a fast-growing business with a purpose: changing wood to change the world. The company combines chemistry, technology and ingenuity to make Accoya® wood and Tricoya® wood elements:  high performance wood products that are extremely durable and stable, opening new opportunities for the built environment and giving the world a choice to build sustainably. Accsys transforms fast-growing, certified sustainable wood into building materials with an up to 50-year warranty, locking carbon stored in the wood into useful products for decades, with performance characteristics that match or better those of non-renewable, resource-depleting and polluting alternatives.  Accsys is listed on the London Stock Exchange AIM market and on Euronext Amsterdam, under the symbols 'AXS'.  Visit www.accsysplc.com  

Accoya® solid wood is sustainable, durable, and stable with exceptional performance, finish and sustainability. Accsys' proprietary acetylation process makes the wood more dimensionally stable and because it is no longer easily digestible, extremely durable. It is one of very few building materials to be Cradle to Cradle Certified™ at the Gold level, with a Platinum rating for Material Health, confirming that no harmful or toxic additives or chemicals are present to leach out into the environment. Primary applications for Accoya® wood include windows, doors, cladding and decking, where the combination of performance and sustainability benefits compete favorably against hardwoods, plastics, metals and concrete. Visit www.accoya.com  

Tricoya® acetylated wood elements are produced for use in the fabrication of panel products such as medium density fibreboard (MDF). Panel products made with Tricoya® wood elements are truly durable and stable enough for use outdoors and in wet environments, unlocking new possibilities for design and construction. They have been lauded as the first major innovation in the wood composites industry in more than 30 years and bring the flexibility of traditional panel products and sustainability benefits of wood to a whole new range of applications. Visit www.tricoya.com  

Any references in this announcement to agreements with Accsys shall mean agreements with either Accsys or its subsidiary entities unless otherwise specified. 'Accsys' and 'Accsys Technologies' are trading names of Titan Wood Limited ("TWL"), a wholly-owned subsidiary of Accsys Technologies PLC. Accoya ® , Tricoya ® and the Trimarque Device are registered trademarks owned by TWL, and may not be used or reproduced without written permission from TWL, or in the case of the Tricoya ® registered brand trademark, from Tricoya Technologies Limited, a subsidiary of TWL with exclusive rights to exploit the Tricoya® brand.

 

 

 

 

 

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