Accsys Tech Regulatory News (AXS)

AIM: AXS

Euronext Amsterdam: AXS

10 June 2022

Accsys Technologies PLC

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

Board Changes

Accsys announces that Montague John "Nick" Meyer has informed Accsys of his intention to retire from its board of directors (the "Board") with effect from the conclusion of the Company's Annual General Meeting, to be convened later this year.

Accsys further announces the appointment of Louis Eperjesi to the Board with effect from 14 June 2022.

Nick Meyer will be stepping down as a non-executive director having served on the Board for eleven years. In light of Nick's detailed and valuable knowledge of Accsys and the markets in which it operates, Nick has agreed to provide consultancy advice to the Board for up to 12 months once he has stepped down.

Louis brings over 30 years' experience in the building materials sector to the Board. He is currently a non-executive director of Ibstock plc and The Cheltenham Trust, where he is the Chair of Trustees. During his executive career, Louis was the Chief Executive Officer of Tyman Plc. Prior to that Louis held senior executive roles in Kingspan Plc, Baxi Group Limited, Lafarge SA and Caradon Plc.

Louis will be a member of the Nomination Committee, the Remuneration Committee and the Audit Committee.

Louis holds no shares in Accsys.

Stephen Odell, Chairman of Accsys, commented:

"On behalf of the Board, I would like to thank Nick deeply for his significant contribution to Accsys over many years. Nick has helped steer the strategy and delivery of the Company over the last eleven years. His extensive knowledge of the timber industry and his remarkable people skills have been an invaluable asset to the Company for that time. I would also like to thank Nick personally for helping my integration onto the Board. I am delighted to welcome Louis to the Accsys Board. His depth of experience in building products will be a great asset to the Board and Accsys generally."

The following information is disclosed in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies in relation to Louis Eperjesi's appointment to the Board as non-executive director:

Full name: Louis Leslie Alexander Eperjesi

Age: 60 years

Current Directorships: The Cheltenham Trust, Ibstock plc, Cheltenham Leisure and Culture Limited, JLQ Investment Ltd, Allander Topco Limited.

Directorships held in the past five years: Tyman plc, Wolseley Limited, Schlegel Acquisition Holdings Limited, Jasper Acquisition Limited, Jasper Acquisition Holdings Limited, Tyman Investments Limited, Tyman Financial Services Limited, Lupus Capital Limited. 

There are no other matters in relation to the retirement of Montague John "Nick" Meyer or the appointment of Louis Eperjesi which are required to be disclosed in accordance with the AIM Rules for Companies.

Ends

For further information, please contact:

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.