26/10/2005 Accsys Technologies opens the London markets
The London Stock Exchange is delighted to welcome Accsys Technologies to AIM.
26 October 2005
Accsys is an environmental science and technology company whose most advanced intellectual property is a process which effectively converts soft and non-durable hardwoods into an environmentally compatible ‘new wood species’. This new type of wood, which has been branded ‘Accoya™’ by the Company, has performance attributes similar to the best tropical hardwoods and superior to many artificial material alternatives.
Prior to admission to AIM, Accsys placed 27 million new Ordinary Shares at a price of €1.00 per share to raise €27m before expenses.
The proceeds of the Placing will be used, inter alia, to complete the Group’s first full-scale production facility, located in Arnhem, the Netherlands. Designed to produce 30,000 m3 cubic metres of Accoya per year; it is currently under construction and scheduled to be mechanically completed and ready for commissioning in summer 2006.
William Paterson-Brown, Executive Chairman of Accsys, said “We are excited to see our company joining AIM. Admission will raise our international profile and provide liquidity and visibility as we bring our new ‘species’ of wood into commercial production. These are exciting times for the Company, and Admission to trading on AIM is an integral part of our development.”
Collins Stewart Limited is acting as both Nominated Adviser and Broker.