Accsys Tech Regulatory News (AXS)

AIM: AXS

NYSE Euronext Amsterdam: AXS

4th February 2011

ACCSYS TECHNOLOGIES PLC("Accsys" or "the Company")

Directors and Persons Discharging Managerial Responsibilities' Interests

Further to the Company's announcement of earlier today relating to its proposed €30 million fundraising by way of firm placing and placing and open offer (the "Firm Placing and Placing and Open Offer"), in compliance with the AIM Rules and Disclosure and Transparency Rules, the Company announces that the following directors and persons discharging managerial responsibilities have agreed to subscribe, pursuant to the terms of the Firm Placing and Placing and Open Offer, for the following number of ordinary shares of €0.01 in the Company ("Ordinary Shares") at a price of €0.15 per Ordinary Share, being the offer price under the Firm Placing and Placing and Open Offer (the "Subscriptions"):

Further details relating to the Subscriptions are set out in the prospectus relating to the Firm Placing and Open Offer expected to be published by the Company today (the "Prospectus").

In connection with the Firm Placing and Placing and Open Offer, the Board has also approved the adjustment of share option awards granted prior to today's date pursuant to, and as provided for, in each of the Company's 2005 Unapproved Share Option Scheme and 2008 Unapproved Share Option Scheme (each a "Scheme"). Such ordinary course anti-dilution adjustments have been recommended by the nomination and remuneration committee of the Company and, as required under each Scheme, the auditors of the Company have opined that such adjustments have been calculated in a fair and reasonable manner. In respect of all options granted under each Scheme (including to Paul Clegg and Hans Pauli as executive directors), the exercise price shall be adjusted to 70.6% of the previous exercise price and the number of shares under option shall be increased by 141.7%.

The Company further announces that in connection with employee remuneration and incentivisation arrangements and in respect of the period from 31 March 2010 to 31 December 2010, the nomination and remuneration committee of the Company has resolved to issue Ordinary Shares to an Employee Benefit Trust, the beneficiaries of which are set out below. Such Ordinary Shares shall vest if the employees remain in employment with the Company to the vesting date, being 31 December 2011 (subject to certain other provisions including good-leaver, take-over and committee discretion provisions):

Ends

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Notes to editors:

Accsys Technologies PLC (www.accsysplc.com) is an environmental science and technology company whose primary focus is on the production of Accoya® wood and technology licensing via its 100% owned subsidiary, Titan Wood Limited, which has manufacturing operations in Arnhem, the Netherlands, a European office in London and an Americas office in Dallas, Texas. Accsys Technologies' operations comprise three principal business units: (i) the Accoya® wood production facility located in Arnhem, The Netherlands; (ii) technology development, focused on a programme of continuous improvements to the process engineering and operating protocols for the acetylation of wood which are currently under development and the development of technology for the acetylation of wood fibre; and (iii) the licensing of technology for the production of Accoya® wood and Tricoya® wood elements across the globe.

Accoya® Wood (www.accoya.info) is produced by using a proprietary, non-toxic process that effectively converts sustainably grown softwoods and non-durable hardwoods into what is best described as a "high technology wood" via acetylation. 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. Unlike most woods, its colour does not degrade when exposed to sunlight. Moreover, the Accoya® wood production process does not compromise the wood's strength or machinability. The combination of UV resistance, dimensional stability, increased coatings life, durability and retained strength means that Accoya® wood offers a wealth of new opportunities to architects, designers and specifiers. Leading applications include external doors and windows, shutters/shading, siding and cladding, decking, outdoor furniture/equipment and glulam beams for structural use. 

Tricoya® Wood Elements (www.tricoya.com) is Accsys Technologies' proprietary technology for the acetylation of wood fibres, chips, and particles for use in the fabrication of wood based composites, including panel products. These composites demonstrate enhanced durability and dimensional stability which allow them to be used in a variety of applications which were once limited to solid wood or man-made products. Tricoya® Wood Elements is 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. The environmentally responsible process protects wood from rot by making it "inedible" to most micro-organisms and insects, 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. Acetylated wood's increased durability offers major carbon sequestration advantages, compared to other woods and man-made building materials such as steel, vinyl, and plastic.

Wood Composites include a range of derivative wood products which are manufactured by binding together the strands, particles, fibres, or veneers of wood together with adhesives to form composite materials. These products are engineered to precise design specifications which are tested to meet national or international standards.

Accsys Technologies is the trading name of Titan Wood Limited. ACCOYA®, TRICOYA® and the Trimarque Device are registered trademarks owned by Titan Wood Limited and may not be used or reproduced without written permission.