AIM: AXS

Euronext Amsterdam: AXS

6 June 2023

Accsys Technologies PLC

("Accsys", the "Group" or the "Company")

Directorate Update

Accsys, the fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products, provides an update on a number of Board changes. 

Further to our previous announcement on 4 April 2023, Dr Jelena Arsic van Os will join the Board on 27 June 2023 and then take up her role as Chief Executive Officer on 1 July 2023, at which point Executive Chairman, Stephen Odell, will return to his prior role as independent Non-Executive Chairman of Accsys. 

As they reach the end of their nine-year terms, Sue Farr and Sean Christie, who chairs the Audit Committee, will step down from the Board at the conclusion of the Company's AGM in September 2023.  In addition, due to increases in his executive commitments, Alexander Wessels, who chairs the Company's Remuneration Committee, has decided not to stand for a further three year term and will therefore step down at the upcoming AGM, when his current term concludes. 

The Board is seeking to appoint two new high-quality and experienced independent Non-Executive Directors, with the intention of one acting as Chair of the Audit Committee, and the second as Chair of the Remuneration Committee.  The search for both these roles is well underway and the Company plans to give further updates ahead of the AGM in September.     

Stephen Odell, Chairman, commented: 

"On behalf of the Board, I would like to thank Sue and Sean for their considerable contribution to Accsys over the last nine years and for the support and guidance they have given to newer members of the Board including myself. I would also like to thank Alexander for his input to Accsys over the last three years, where his extensive experience, including providing perspective from the view of an active CEO, has been invaluable.  We look forward to adding two high quality Non-Executive directors to the Board in due course as we progress delivery of Accsys' significant potential." 

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Notes to editors:

Accsys (Accsys Technologies PLC) is a fast-growing business with a purpose: changing wood to change the world. The company combines chemistry, technology and ingenuity to make Accoya^® wood and Tricoya^® wood elements:  high performance wood products that are extremely durable and stable, opening new opportunities for the built environment and giving the world a choice to build sustainably. Accsys transforms fast-growing, certified sustainable wood into building materials with an up to 50-year warranty, locking carbon stored in the wood into useful products for decades, with performance characteristics that match or better those of non-renewable, resource-depleting and polluting alternatives.  Accsys is listed on the London Stock Exchange AIM market and on Euronext Amsterdam, under the symbols 'AXS'.  Visit www.accsysplc.com 

Accoya^® solid wood is sustainable, durable, and stable with exceptional performance, finish and sustainability. Accsys' proprietary acetylation process makes the wood more dimensionally stable and because it is no longer easily digestible, extremely durable. It is one of very few building materials to be Cradle to Cradle Certified™ at the Gold level, with a Platinum rating for Material Health, confirming that no harmful or toxic additives or chemicals are present to leach out into the environment. Primary applications for Accoya^® wood include windows, doors, cladding and decking, where the combination of performance and sustainability benefits compete favorably against hardwoods, plastics, metals and concrete. Visit www.accoya.com

Tricoya^® acetylated wood elements are produced for use in the fabrication of panel products such as medium density fibreboard (MDF). Panel products made with Tricoya^® wood elements are truly durable and stable enough for use outdoors and in wet environments, unlocking new possibilities for design and construction. They have been lauded as the first major innovation in the wood composites industry in more than 30 years and bring the flexibility of traditional panel products and sustainability benefits of wood to a whole new range of applications. Visit www.tricoya.com

Any references in this announcement to agreements with Accsys shall mean agreements with either Accsys or its subsidiary entities unless otherwise specified. 'Accsys' and 'Accsys Technologies' are trading names of Titan Wood Limited ("TWL"), a wholly-owned subsidiary of Accsys Technologies PLC. Accoya^®, Tricoya^® and the Trimarque Device are registered trademarks owned by TWL, and may not be used or reproduced without written permission from TWL, or in the case of the Tricoya^® registered brand trademark, from Tricoya Technologies Limited, a subsidiary of TWL with exclusive rights to exploit the Tricoya^® brand.