25 May 2022

Equity Issue & Trading Update - Accsys Technologies PLC (AXS)

Equity Issue to raise gross proceeds of approximately €20 million and Trading Update

Proceeds to strengthen the balance sheet, increase liquidity and complete capacity expansion

Accsys, the fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products, today announces that it proposes to raise gross proceeds of approximately €20 million (approximately €19 million net of expenses) by way of a Placing and Subscription (the “Issue”) of new ordinary shares of 0.05 euro cents nominal value each (“New Ordinary Shares”) in the Company at a price of 145 euro cents (123 pence) (the “Issue Price”).

The net proceeds of the Issue will be used to strengthen the Company’s balance sheet, increase liquidity headroom and fund additional costs to complete the Arnhem Plant Reactor 4 (“R4”) capacity expansion. The Issue will also provide increased working capital in FY23 to support the wider Accsys organisation in what is a pivotal year, as the equivalent of an additional 60,000m³ of new capacity projects are due to come online in the next three months, increasing the total capacity at Group level to 120,000m³.

Accsys Directors Stephen Odell, Chairman, Rob Harris, CEO, and Nick Meyer, NED, intend to subscribe for New Ordinary Shares at the Issue Price representing, in aggregate, a total investment of c.£230,000 (the “Subscription”) following release of this announcement.

The Placing is being conducted through an accelerated bookbuild (the “Bookbuild”) by the Company’s corporate brokers in London and Amsterdam to reflect Accsys’ dual-listing on the London (AIM) and Euronext Amsterdam stock exchanges.

For the full announcement with Trading Update and notices click here

Kind regards,

Accsys Investor Relations

www.accsysplc.com

Accsys Technologies PLC
Registered office: Brettenham House, 19 Lancaster Place, London WC2E 7EN. 
Registered in England No: 5534340.