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Chairman wouldn't be able to sell on Feb 1st without creating a very bad look, so maybe he believes it'll go well in the future.
So I think the Chairman has spent Ā£68,400 on exercising his Warrants:
'Director/PDMR Shareholding
Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, announces that Klaas de Boer, Chairman of the Company, has exercised 2,400,000 warrants at an exercise price of 2.85 pence each in exchange for the same number of ordinary shares of 0.1 pence each (the "Warrants" and the "Ordinary Shares"). The Warrants detailed above represent all warrants issued to Mr de Boer in October 2022 as part of the fundraise undertaken by the Company at that time.'
Hi Jason, Xeros did say end of Jan so you are right there but maybe all the brokers are on the Jan 24 timetable.
HL are showing XSG as 6% down today, as I write. Still above the 2.85p warrant price but what if everyone sells their warrant shares on the first morning they appear.
Xeros should announce any news that could affect the market but what if they know news is due on a particular day (and they expect positive or negative outcome) though not the definitive result. They could keep quiet without breaking the rules.
In the past I felt I was lead by the nose a bit here (good news followed by bad etc.) so I'm extra wary now. Someone with a bigger holding than I had, coupled with lower dealing charges than me, might be more inclined to take up their warrants.
Still a few days to decide!
Thanks D-Geeman. My mistake. If they have good or bad news they have to release it straight away I think? They can't chose the time of the release of there news. Any idea of there cash now? Low take up of the warrants at a discount in the next week might not be a very good sign for another fund raise this year unless there are some headline commercial wins? Maybe they have something really big they are working on and just need to limp along for a while?
We don't have two weeks actually, according to HL:
'Action required before midday on 24th Jan 2024.
The final opportunity to convert your Xeros Technology Group plc warrants into shares is nearly here. Each warrant can be converted into one share at a price of 2.85p per share.
You donāt have to convert your warrants. If you donāt, they will be removed from your account after 31 January . You will not receive payment in respect of warrants you donāt convert.
Convert your warrants ā act by noon on Wednesday 24 January 2023'.
Part of me wonders if they'll release good news AFTER this goes through, and after most people haven't taken up their warrants. Having said that, if they had good news to release and the SP had gone up, the warrants would have been taken up at the higher price of 5p (it was 5p wasn't it?) over the spring and early summer, under the original terms. More money for the company coffers.
Might change my mind but at the moment I shan't take mine.
Have to agree Jason, unfortunately. I don't see myself executing my warrants..................there's nothing to convince me that this has a chance of making it a profitable company
Half way through january and the warrants have to be exercised in the next two weeks. No commercial news from xeros but hopefully we will see some in that time. A major new licensee would be positive as they have signed nothing since May 2023. IFB launching there xeros washing machine is long overdue. Will that even happen? They didnt go to ces last week but there two major filter competitors did. Has anyone seen a working prototype of their outside washing machine filter yet? They need a big commercial result and the chairman and ceo have to back themselves on there warrants if they want to convince anyone surely?
I have the right to exercise my warrants at 2.85p which at this rate I will do...fingers crossed.
Confidence returning?
This appears to be a relief rally, as a fundraise will give it some breathing room. However, I'm disappointed management tried to BS that a fundraise wasn't needed when it was obvious it was months ago. Unless you're heavily into this there are stocks offering good upside without the risks.
They donāt know anymore than anyone else does that would be illegal, donāt get spiked
I've been unable to get a price in a dummy sale for the last 45 mins so hard to know why the SP is what it is atm.
Beginning to be pleased I jumped back in on the RNS yesterday.
On the face of it looks positive
Due diligence and all that
Wait and see I guess
Now upto 7.54%
The rise was clearly because of Dowgate Capital taking a 5.72% position here. Now what they know that others donāt, one can only speculate
Yes it does make you wonder what is happening. They are leaving it very late for a fundraise which only makes sense if they are finding convincing their current investors to invest again hard but with their pathetic market cap they could be a target to go private I suppose if someone wanted to buy them for pennies on the pound. Microfiber legislation isnt helping them and IFB still havent launched their machine so unless something else is happening there is no reason for the rise. They look like they have stalled commercially. No new partners announced for months and the filter they launched at IFA doesn't look as good as Samsungs and that one doesnt have the cost of a motor. Have they just run out of steam or ideas? Not feeling confident about sticking any of my money in right now.
Today i have gone from a 99% loss to a 98% loss on this share - that's very exciting - ha ha.
No news due early next week so maybe a pump and dump? Worth getting in if you can get timing right. I was tempted at 20% up earlier but missed that boat
Its's certainly nothing to do with the volume or buys... so something's going on possibly....
Only thing I can assume its that this is a high risk stock and the change in sentiment with rates peaking gives them more chance of survival.
Up nearly 30% today at the moment. Anyone know why?
Not entirely Xeros focused but more of a muse!
Should companies that rely heavily on plastics for there operations be heavily regulated? Every company you look at says they recycle the plastics but with less than 10% of plastic recycled world wide how can that be the case!
Not checked in here for a while. I was keeping an eye on it with a view to investing but it just kept dropping. Eventually I just gave up. Glad I did but genuinely feel for those that took the plunge. I think the management have been totally out of their depth in getting this off the ground with the money and time they have had. Looks like itās turned out to be one of thoseālife style companiesā in my opinion.
Feel your pain here, Goldbar! Great concept on paper, but either too early for the market or incompetent management (probably a combination if I am being generous). I have waisted a fortune (over the past 6 years) chasing this down, but no matter how hard I chase it continues to drop! I have written this off, most of their IP will run out soon and most manufacturers will build their own version.