Accsys Technologies (AXS)

Sector:

Manufacturing

Index:

FTSE AIM All-Share

68.00p
   
  • Change Today:
      0.30p
  • 52 Week High: 181.00
  • 52 Week Low: 64.20
  • Currency: UK Pounds
  • Shares Issued: 206.55m
  • Volume: 129,646
  • Market Cap: £140.46m
  • RiskGrade: 210

Accsys to raise EUR 20m ahead of 'pivotal year'

By Josh White

Date: Wednesday 25 May 2022

LONDON (ShareCast) - (Sharecast News) - Chemistry and technology-focussed wood building products developer Accsys announced plans to raise gross proceeds of €20m (£17.07m), to strengthen its balance sheet, increase its headroom, and fund additional costs at Arnhem.
The AIM-traded firm said it would raise the funds through a placing and subscription for new shares at a price of 145 euro cents each.

It said the net proceeds would be used to strengthen its balance sheet, increase liquidity headroom, and fund additional costs to complete the Arnhem Plant Reactor 4 (R4) capacity expansion.

The Issue would also provide increased working capital in the 2023 financial year, to support the wider Accsys organisation in what the board called a "pivotal year", as the equivalent of an additional 60,000 cubic metres of new capacity projects were due to come online in the next three months, increasing the group's total capacity to 120,000 cubic metres.

Accsys chairman Stephen Odell, chief executive officer Rob Harris, and non-executive director Nick Meyer intended to subscribe for new shares at the issue price, representing a total investment of £0.23m.

"We are very excited to approach the completion of the R4 and Hull projects in the next three months, which brings the opportunity to enhance profitability through economies of scale as we double production capacity across Accsys," said CEO Rob Harris.

"Demand for our high-performance and sustainable building products, Accoya and Tricoya, remains strong, and Accsys continues to deliver its targeted fivefold increase in production capacity to 200,000 cubic metres by 2025."

At 1229 BST, shares in Accsys Technologies were down 8.38% at 123p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

AXS Market Data

Currency UK Pounds
Share Price 68.00p
Change Today 0.30p
% Change 0.44 %
52 Week High 181.00
52 Week Low 64.20
Volume 129,646
Shares Issued 206.55m
Market Cap £140.46m
RiskGrade 210

AXS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
89.36% below the market average89.36% below the market average89.36% below the market average89.36% below the market average89.36% below the market average
53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average
Price Trend
80.19% below the market average80.19% below the market average80.19% below the market average80.19% below the market average80.19% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
48.04% above the market average48.04% above the market average48.04% above the market average48.04% above the market average48.04% above the market average
85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

AXS Dividends

No dividends found

Trades for 05-Oct-2022

Time Volume / Share Price
12:30 10,000 @ 68.00p
12:30 10,000 @ 68.00p
12:30 10,000 @ 68.00p
11:39 725 @ 68.92p
11:22 460 @ 68.00p

AXS Key Personnel

Finance Director William Bickerton Rudge
CEO Robert Harris
Chair Stephen Odell

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