Slaughter and May is advising Accsys Technologies plc (“Accsys”) on its firm placing and placing and open offer to raise €46.3 million (before expenses), which was announced on 28 November 2019. The proceeds of the firm placing and placing and open offer will be used by Accsys to fund, among other things, the further expansion and enhancement of its Accoya® wood production and sales facility in Arnhem, the Netherlands, and the company’s expected share of the increase in construction costs associated with the completion of the Tricoya® wood chip production and sales facility in Hull, UK.
The capital raise is conditional on various matters, including the passing by shareholders of certain resolutions at a general meeting of Accsys to be held on 20 December 2019. The admission of new Accsys shares to listing and trading on Euronext Amsterdam and to trading on AIM is expected to occur on 23 December 2019.
Slaughter and May is supporting Accsys’ in-house legal team, Angus Dodwell and Daniella Lloyd. Rutgers & Posch is advising Accsys on the Dutch law aspects of the transaction.