Last checked at 23 Dec 2019 14:00
23 December 2019 AIM: AXS
Euronext Amsterdam: AXS
ACCSYS TECHNOLOGIES PLC("Accsys" or "the Company")
Director Dealings
Accsys, the fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products, announces that following publication of the Company's prospectus on 28 November 2019, Patrick Shanley, Robert Harris, Geertrui Elizabeth Schoolenberg, Michael Sean Christie and Nick Meyer have each subscribed for, and have today had issued to them, ordinary shares in the capital of the Company ("Shares") under the terms of the Firm Placing and at the Offer Price of €1.05 per Share. Details of each of these Company Director Dealings are further set out below.
The following notifications are made under article 19 of the Market Abuse Regulation ("MAR") relating to certain transactions by persons discharging managerial responsibilities ("PDMR") in the shares of the Company.
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
| Name | Robert Harris | |
2. | Reason for the Notification | ||
| Position/Status | Chief Executive Officer | |
| Initial notification/amendment | Initial notification | |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| Name | Accsys Technologies plc | |
| LEI | 213800HKRFK8PNUNV581 | |
4. | Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| Description of the Financial instrument, type of instrument | Ordinary shares of €0.05 each in Accsys Technologies plc | |
| Identification code | GB00BQQFX454 | |
| Nature of the Transaction | Purchase in Firm Placing | |
| Price(s) and volume(s) | Price(s) | Volume(s) |
£0.90 | 44,444 | ||
| Aggregated information: Aggregated volume Price | N/A | |
| Date of the transaction | 23 December 2019 | |
| Place of the transaction | London Stock Exchange (XLON); AIM Market | |
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
| Name | Patrick Shanley | |
2. | Reason for the Notification | ||
| Position/Status | Chairman and Non-Executive Director | |
| Initial notification/amendment | Initial notification | |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| Name | Accsys Technologies plc | |
| LEI | 213800HKRFK8PNUNV581 | |
4. | Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| Description of the Financial instrument, type of instrument | Ordinary shares of €0.05 each in Accsys Technologies plc | |
| Identification code | GB00BQQFX454 | |
| Nature of the Transaction | Purchase in Firm Placing | |
| Price(s) and volume(s) | Price(s) | Volume(s) |
£0.90 | 44,444 | ||
| Aggregated information: Aggregated volume Price | N/A | |
| Date of the transaction | 23 December 2019 | |
| Place of the transaction | London Stock Exchange (XLON); AIM Market | |
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
| Name | Geertrui Elizabeth Schoolenberg | |
2. | Reason for the Notification | ||
| Position/Status | Non-Executive Director | |
| Initial notification/amendment | Initial notification | |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| Name | Accsys Technologies plc | |
| LEI | 213800HKRFK8PNUNV581 | |
4. | Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| Description of the Financial instrument, type of instrument | Ordinary shares of €0.05 each in Accsys Technologies plc | |
| Identification code | GB00BQQFX454 | |
| Nature of the Transaction | Purchase in Firm Placing | |
| Price(s) and volume(s) | Price(s) | Volume(s) |
£0.90 | 44,444 | ||
| Aggregated information: Aggregated volume Price | N/A | |
| Date of the transaction | 23 December 2019 | |
| Place of the transaction | London Stock Exchange (XLON); AIM Market | |
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
| Name | Nick Meyer | |
2. | Reason for the Notification | ||
| Position/Status | Non-Executive Director | |
| Initial notification/amendment | Initial notification | |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| Name | Accsys Technologies plc | |
| LEI | 213800HKRFK8PNUNV581 | |
4. | Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| Description of the Financial instrument, type of instrument | Ordinary shares of €0.05 each in Accsys Technologies plc | |
| Identification code | GB00BQQFX454 | |
| Nature of the Transaction | Purchase in Firm Placing | |
| Price(s) and volume(s) | Price(s) | Volume(s) |
£0.90 | 44,444 | ||
| Aggregated information: Aggregated volume Price | N/A | |
| Date of the transaction | 23 December 2019 | |
| Place of the transaction | London Stock Exchange (XLON); AIM Market | |
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
| Name | Michael Sean Christie | |
2. | Reason for the Notification | ||
| Position/Status | Non-Executive Director | |
| Initial notification/amendment | Initial notification | |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| Name | Accsys Technologies plc | |
| LEI | 213800HKRFK8PNUNV581 | |
4. | Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| Description of the Financial instrument, type of instrument | Ordinary shares of €0.05 each in Accsys Technologies plc | |
| Identification code | GB00BQQFX454 | |
| Nature of the Transaction | Purchase in Firm Placing | |
| Price(s) and volume(s) | Price(s) | Volume(s) |
£0.90 | 11,111 | ||
| Aggregated information: Aggregated volume Price | N/A | |
| Date of the transaction | 23 December 2019 | |
| Place of the transaction | London Stock Exchange (XLON); AIM Market | |
Ends
For further information, please contact:
Accsys Technologies PLC | Robert Harris, CEO (incoming) Paul Clegg, CEO (outgoing) William Rudge, FD
| via FTI Consulting |
Numis Securities Limited -Nominated Adviser and Joint Broker | Oliver Hardy (NOMAD) Christopher Wilkinson Ben Stoop Oliver Cox
| +44 (0) 20 7260 1000
|
Investec Bank plc - Joint Broker | Carlton Nelson James Rudd Alex Wright
| +44 (0) 20 7597 5970
|
FTI Consulting | Matthew O'Keeffe Alex Le May
| +44 (0) 20 3727 1340 |
Off the Grid (The Netherlands) | Frank Neervoort Giedo Van Der Zwan | +31 681 734 236 +31 624 212 238 |
Notes to editors:
Accsys Technologies PLC (www.accsysplc.com) is a fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products. Accsys' primary focus is on the production of Accoya® wood and Tricoya® 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® wood production; (ii) building and operating of Tricoya® 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® wood and Tricoya® wood elements across the globe.
Tricoya® Consortium In March 2017, Accsys announced the formation of the Tricoya® Consortium to fund, build and operate the Tricoya® 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® plant. TTL exploits all Tricoya® related intellectual property and benefits from any Tricoya® related revenues other than those generated by the Tricoya® plant. The Tricoya® plant has a targeted annual production capacity of 30,000 metric tonnes of Tricoya® chips per annum, enough to produce approximately 40,000m3 of Tricoya® panel products per annum. The Tricoya® plant is expected to reach EBITDA breakeven at approximately 40% design capacity and to take approximately three years to reach full capacity following start-up. The location of the Tricoya® plant at Saltend Chemicals Park in Hull allows for expansion when market conditions dictate.
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. Moreover, the Accoya® wood production process does not compromise the wood's strength or machinability. The combination of 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.
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.
'Accsys' and 'Accsys Technologies' are trading names of Titan Wood Limited. Accsys, 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 subsidiary of TWL with exclusive rights to exploit the Tricoya® brand.