Business
Pre Close Trading Update and EBT sale of shares
Pre Close Trading Update and EBT sale of shares.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 0692T Accsys Technologies PLC 30 September 2014 \n \n\n \nAIM: AXS\nNYSE Euronext Amsterdam: AXS\n30 September 2014\n \nACCSYS TECHNOLOGIES PLC(\"Accsys\" or \"the Company\")\n \nPre Close Trading Update and Employee Benefit Trust sale of shares\n \nAccsys, the chemical technology group focused on the acetylation of wood, announces a pre-close trading update before entering a close period on 1 October 2014. Interim results for the six months ended 30 September 2014 will be announced in the second half of November.\n \nTrading update\n \nSales of Accoya® in the first half of the financial year have continued to be strong, with Accoya® revenue increasing by approximately 38% compared to the same period last year. Demand also continues to be strong with forward orders now in place for the remainder of the year.\n \nThe continued growth and strong demand follows on from our successful fourth Worldwide Accoya® wood sales conference in September, which involved 130 participants, being an increase from 90 last year.\n \nSale of Employee Benefit Trust (\"EBT\") shares\n \nFurther to the Company's announcement of 9 July 2013 in respect of the EBT, awards over 945,133 €0.05 ordinary shares1 in the capital of the Company (\"shares\") vested on 8 August 2014. These awards were granted in line with the Company's employee remuneration and incentivisation arrangements and relate to the period from 1 July 2012 to 30 June 2013.\n \nCertain beneficiaries elected to sell shares on the open market to fund the resulting personal tax liabilities. The EBT has been selling these shares, however as at today's date, 223,425 shares have yet to be sold. \n \nTherefore, during the Company's close period from 1 October until the release of its Interim Results for the six months ending 30 September 2014, which are expected to be announced in the second half of November, the EBT intends to continue to sell the remaining shares with the sales process managed by an independent third party. The EBT has received irrevocable instructions and will be independent of, and uninfluenced by, the Company for this close period.\n \nDetails concerning Directors' holding in the EBT are set out below:\n \nName &n...