REG - Accsys Technologies - Directorate Change

Accsys TechnologiesAnnouncement

12/09/2023 07:00

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RNS Number : 0829M  Accsys Technologies PLC  12 September 2023

AIM: AXS

Euronext Amsterdam: AXS

12 September 2023

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Accsys Technologies PLC

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

 

Directorate Change

Accsys announces today that its Chairman, Stephen Odell, has informed the
Company of his intention not to seek re-election at the Company's forthcoming
AGM on 20 September 2023 due to personal reasons.

 

Trudy Schoolenberg, the Company's Senior Independent Director will assume the
role of Interim Chair at the conclusion of the AGM.

 

In-line with best practice the Board will keep its composition under review
and will consult with shareholders as appropriate. This process will include
the appointment of a permanent Chair.

 

As the Company's AGM Notice has already been issued, the Company confirms that
the resolution to re-elect Stephen Odell as a director of the Company
(Resolution 3) is now withdrawn.

 

The withdrawal of Resolution 3 does not otherwise affect the validity of the
Notice of Meeting, the AGM proxy form or any proxy votes already submitted on
other proposed resolutions. The numbering of all other proposed resolutions at
the AGM will remain unchanged.

 

Stephen Odell, Chairman of Accsys, commented:

 

"It has been a privilege to be Chair of Accsys over the last three years. I
believe the Company's innovative and sustainable Accoya and Tricoya products
have tremendous potential.  I would like to thank the Board and the senior
leadership team, together with all of Accsys' committed colleagues, for their
hard work and support during my time at the Company. I wish them and Accsys
every success."

 

Commenting on today's announcement, Trudy Schoolenberg, Senior Independent
Director of Accsys, said:

 

"On behalf of the Board and management team, I would like to thank Stephen for
his dedicated service to the Company and his outstanding leadership of the
Board over the last three years.  During his tenure the Company has made
significant progress with its strategy, navigating the challenges of Covid-19,
completing the successful construction of additional reactors in Arnhem and
establishing the foundations and momentum for our US expansion. Stephen's
leadership of the Board will be greatly missed by all of us at Accsys and we
wish him the very best for the future."

 

Commenting on today's announcement, Jelena Arsic van Os, Chief Executive
Officer, said:

 

"I am very grateful to have had the opportunity to experience Stephen's
leadership and professionalism. He will be missed. I also want to express my
confidence in Accsys' bright future under the new leadership team. We will
continue pushing boundaries with our leading technology and innovative and
sustainable Accoya and Tricoya product, which has significant global growth
potential. I have been very impressed with the Accsys team and everyone's
commitment to delivering on our promise of changing wood to change the world."

Ends

This announcement comprises inside information for the purposes of EU MAR and
UK MAR. The person responsible for making this announcement is Nick Hartigan,
General Counsel and Company Secretary, Accsys Technologies PLC.

For further information, please contact:

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

Katharine Rycroft, Head of Investor Relations

                                                     +44 (0) 20 7421 4300
 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
 ABN Amro (Amsterdam)                                +31 20 344 2000
 Richard van Etten, Dennis van Helmond
 Huijskens Sassen Communications (The Netherlands)   +31 20 685 5955

Clemens Sassen

 

 

 

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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