Business
Employee Share Participation Plan
Employee Share Participation Plan.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 9552B Accsys Technologies PLC 04 February 2020 \n\nAIM: AXS\nEuronext Amsterdam: AXS\n \n4 February 2020\n \nAccsys Technologies PLC\n(\"Accsys\", the \"Group\" or the \"Company\")\n \nAccsys Employee Share Participation Plan\n \nAccsys, the fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products, announces the issue of new ordinary shares of €0.05 each in the Company (\"Shares\") to employees in relation to employee incentivisation and share plan arrangements.\nThe Company 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 Shares as an additional benefit of employment. Under 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\").\nPursuant to the terms of the Plan, various employees have subscribed for a total of 204,612 Shares at an acquisition price of €1.095 per Share, being the closing price of Shares in the Company on 12 December 2019 on Euronext Amsterdam, the closing date for subscriptions under the Plan.\nThe Shares in the Company will be issued pending admission to trading on AIM and Euronext which is expected to take place on 5 February 2020 (\"Admission\").\nThe total number of issued Shares following Admission will be 162,288,155 Shares. The Company does not hold any shares in treasury. Therefore, the total voting rights in the Company following Admission will be 162,288,155. This figure may be used by shareholders as the denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company's securities under the FCA's Disclosure Guidance and Transparency Rules.\nEnds\nFor further information, please contact:\n\n\n\n\nAccsys Technologies PLC\n\n\nRobert Harris, CEO\nWilliam Rudge, FD\n \n\n\nvia FTI Consulting\n\n\n\n\nNumis Securities Limited -Nominated Advis...