REG - Accsys Technologies - Director Interests and LTIP Awards

Accsys TechnologiesAnnouncement

12/07/2022 10:45

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RNS Number : 1746S  Accsys Technologies PLC  12 July 2022

AIM: AXS

Euronext Amsterdam: AXS

 

12 July 2022

 

Accsys Technologies PLC

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

 

Director Interests and Long Term Incentive Plan (LTIP) Awards

 

 

Accsys, the fast-growing and eco-friendly company that combines chemistry and
technology to create high performance, sustainable wood building products,
announces that under the Accsys Long Term Incentive Plan, the Remuneration
Committee has granted LTIP Awards to various senior employees, including the
Chief Executive Officer, Rob Harris, and Finance Director, William Rudge, in
accordance with the terms of the LTIP Plan Rules approved by the Company's
shareholders in 2013.

The LTIP Awards are nil priced options over a total of 620,698 new ordinary
shares of €0.05 each in the Company. Of this total, 215,178 LTIP Awards have
been granted to Rob Harris, and 100,851 to William Rudge.

The LTIP Awards will vest three years after grant, subject to the terms of the
LTIP Plan Rules, including continued employment of the beneficiaries by the
Company and satisfaction of performance targets. A two-year holding period
applies to the LTIP Awards granted to Rob Harris and William Rudge following
the end of the vesting period.

Given the timing of the equity capital raise in May 2022 and the importance of
completing the Arnhem expansion and Hull plant construction over the next
months, the Remuneration Committee has determined that the performance targets
for Rob Harris' and William Rudge's LTIP Awards will be set in Autumn 2022
once the Arnhem expansion and Hull plant construction are further progressed,
and the Board has verified the Company's business plans in light of such
progress.  These performance targets will be confirmed in a further
announcement once they have been set, in addition to being disclosed in the
Company's Directors' Remuneration Report for the financial year ending 31
March 2023.

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Robert Harris
 2   Reason for the notification
 a)  Position/status                                              Chief Executive Officer
 b)  Initial notification/ Amendment                              Initial notification
 3   Details of the issuer
 a)  Name                                                         Accsys Technologies PLC
 b)  LEI code                                                     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
 a)  Description of the financial instrument, type of instrument  Ordinary shares of €0.05 each
     Identification code                                          ISIN GB00BQQFX454
 b)  Nature of the transaction                                    Grant of LTIP Options over Ordinary Shares.
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  Nil       215,178
 d)  Aggregated information

     - Aggregated volume                                          Not applicable - single transaction

     - Price
 e)  Date of the transaction                                      11 July 2022
 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

- Aggregated volume

- Price

 

Not applicable - single transaction

e)

Date of the transaction

11 July 2022

f)

Place of the transaction

Outside of a trading venue

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         William Rudge
 2   Reason for the notification
 a)  Position/status                                              Finance Director
 b)  Initial notification/ Amendment                              Initial notification
 3   Details of the issuer
 a)  Name                                                         Accsys Technologies PLC
 b)  LEI code                                                     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
 a)  Description of the financial instrument, type of instrument  Ordinary shares of €0.05 each
     Identification code                                          ISIN GB00BQQFX454
 b)  Nature of the transaction                                    Grant of LTIP Options over Ordinary Shares.
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  Nil       100,851
 d)  Aggregated information

     - Aggregated volume                                          Not applicable - single transaction

     - Price
 e)  Date of the transaction                                      11 July 2022
 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

- Aggregated volume

- Price

 

Not applicable - single transaction

e)

Date of the transaction

11 July 2022

f)

Place of the transaction

Outside of a trading venue

 

Ends

For further information, please contact:

 Accsys Technologies PLC                 ir@accsysplc.com (mailto:ir@accsysplc.com)

Sarah Ogilvie, Investor Relations
 Numis Securities (London)               +44 (0) 20 7260 1000
 Oliver Hardy (NOMAD), Ben Stoop
 Investec Bank plc (London)              +44 (0) 20 7597 5970
 Carlton Nelson, Alex Wright

                                       +31 20 344 2000
 ABN Amro (Amsterdam)
 Richard van Etten, Dennis van Helmond
 FTI Consulting (UK)                     +44 (0) 20 3727 1340

Matthew O'Keeffe, Alex Le May
 Off the Grid (The Netherlands)          +31 681 734 236

Frank Neervoort, Yvonne Derske

 

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
(http://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
(http://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 (http://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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