Last checked at 27 May 2010 12:07
AIM: AXS
NYSE Euronext Amsterdam: AXS
27 May 2010
ACCSYS TECHNOLOGIES PLC("Accsys" or " the Company")
Statement re licensee
The Company is a shareholder in Diamond Wood China Limited ("DW") and has received a letter from the Chairman of DW convening an AGM to be held on Tuesday 29 June 2010. The Company currently owns 21,666,734 shares in DW representing a holding of 15.4%.
In the letter, DW states that it is in advanced discussions with potential investors who are planning to invest sufficient funds to enable the construction of the first Accoya® manufacturing facility in Nanjing. We will be meeting with DW shortly in order to discuss the impact of this financing, the possible phasing of the construction, and the impact on our current licence with DW.
While it is not certain that any transaction will be concluded, the Management of Accsys is very pleased with the progress DW is making to secure funding for its project.
Ends
For further information, please contact:
| Accsys Technologies PLC | Paul Clegg, CEO
| +44 20 8150 8835
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| Matrix Corporate Capital LLP
Threadneedle Communications
| Stephen Mischler Anu Tayal
Graham Herring Josh Royston graham.herring@threadneedlepr.co.uk josh.royston@threadneedlepr.co.uk | +44 20 3206 7000
+44 20 7653 9850 |
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| Citigate First Financial B.V. | Wouter van de Putte Menno Delken | + 31 20 575 4080 |