Business
Directors' Interests and Employee Share Plan
Directors' Interests and Employee Share Plan.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 9493O Accsys Technologies PLC 12 August 2014 \n \n\n\n \nAIM: AXS\nNYSE Euronext Amsterdam: AXS\n12 August 2014\n \nACCSYS TECHNOLOGIES PLC(\"Accsys\" or \"the Company\")\n \nDirectors' Interests and Accsys Employee Share Participation Plan\n \nAccsys, the chemical technology group focused on the acetylation of wood, previously established an Employee Share Participation Plan (the \"Plan\") intended to promote the long term growth and profitability of Accsys by providing employees with an opportunity to acquire an ownership interest in new ordinary shares in the Company (\"Shares\") as an additional benefit of employment.\n \nUnder the terms of the Plan, the Company issues Shares to a trust for the benefit of the subscribing employees with the Shares to be released to employees after one year, together with an additional Share on a 1 for 1 matched basis provided the employee remains in the employment of Accsys at that point in time (the \"Matching Shares\"). The Plan is in line with industry approved employee share plans and is open for subscription by employees twice a year following release of annual and half yearly financial results.\n \nFollowing the Company's announcement on 23 July 2013, a total of 497,854 Shares were issued on 12 August 2013 to this trust for the benefit of a number of employees under the terms of the Plan. Subject to all of these beneficiaries remaining employed by Accsys on 12 August 2014 and pursuant to the Plan, a further 497,854 Shares will (pending admission of the Shares to AIM and Euronext (\"Admission\")) be issued at nominal value of €0.01 each and released to the employees together with the Shares issued to the trust last year. This includes Matching Shares to be issued for the benefit of Hans Pauli and William Rudge, executive directors of the Company as follows:\n \nHans Pauli : 17,857\nWilliam Rudge : 17,857\n \nIn addition, following the release of the Company's Preliminary Announcement of Results for the year ended 31 March 2014, Accsys announces that, through the Plan, various employees have subscribed for a total of 139,125 Shares at an acquisition price of €0.23 per Share (being the closing price of shares in the Company on 16 July 2014 on Euronext Amsterdam, the closin...