25 May 2022

Results of Equity Issue 

Results of Equity Issue raising gross proceeds of approximately €20 million

Accsys, the fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products, announces the successful Issue of New Ordinary Shares to raise gross proceeds of approximately €20 million (approximately €19 million net of expenses).

Further to the Company's announcement earlier today regarding the proposed Placing to be conducted by way of the Bookbuild ("Launch Announcement"), the Company has placed 13,606,112 New Ordinary Shares at a price of 145 euro cents (123 pence) per share (the “Issue Price”).

In addition, Accsys Directors Stephen Odell, Chairman, Rob Harris, CEO, and Nick Meyer, NED, have also subscribed for 186,991 New Ordinary Shares at the Issue Price through a Subscription representing, in aggregate, a total investment of c.£230,000.

The Issue is not subject to shareholder approval.

The total 13,793,103 New Ordinary Shares represent approximately 7.2% of the Company's existing issued share capital. The Issue Price represents a discount of approximately 10.3% to the closing price of the Ordinary Shares on Euronext Amsterdam of 161.6 euro cents, and a discount of approximately 8.4% to the closing price of the Ordinary Shares on the AIM market of the London Stock Exchange of 134.25 pence, in each case at close of business on 24 May 2022.

Rob Harris, CEO, commented:

“The successful fundraising announced today strengthens Accsys’ balance sheet, increases liquidity headroom and ensures delivery of our key growth projects. With this funding now in place, Accsys looks forward to continuing to deliver its targeted fivefold increase in production capacity over the coming years and meeting the demand from our customers.

“On behalf of the Accsys team, I would like to thank our shareholders for the support that they have again demonstrated, and we look to the future with confidence."

For the full announcement please 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.