Last checked at 1 Dec 2020 15:46
1 December 2020
Xeros Technology Group plc ("Company" or "Xeros")
Director/PDMR Transactions, Issue of Options
The Remuneration Committee of Xeros has today granted Mark Nichols, Chief Executive Officer, 22,000 options over ordinary shares under the terms of the Company's 2020 EMI Share Option Scheme at a price of 70p per share. These options will be exercisable in tranches of one-third each at the end of each of 2020, 2021 and 2022, subject to the market price of Xeros ordinary shares reaching, in each respective year (for at least 30 consecutive days) 133p, 267p and 400p. The options have been granted by the Company's Remuneration Committee in exchange for a salary reduction of £15,400 p.a. with effect from the 1st January 2020.
In addition Mark Nichols has today exercised 482 Deferred Annual Bonus (DAB) scheme options held by him under the 2016 and 2017 Deferred Annual Bonus Plan ('DAB' Plan). Following this Mr Nichols' holding of Ordinary Shares amounts to 87,482, representing 0.4% per cent. of the issued share capital.
Enquiries:
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Notes to Editors
Xeros Technology Group plc has developed and licenses two platform technologies which transform the sustainability, performance and economics in the manufacturing and laundering of garments and fabrics.
Xeros' patented XOrbs™ which are used in conjunction with the company's XDrum™ technology significantly reduce the amount of water used in the dyeing, finishing or laundering of garments and fabrics. They enable the remaining water to become far more efficient and effective in either affixing or removing molecules, the result being improvements in economic, operational, product and sustainability outcomes. The Group is applying its technology in the fields of garment manufacturing, commercial and domestic laundry and tanning with its laundry applications increasing garment care and life.
Xeros' XDrum™ technology is a patented, low cost machine drum design which enables XOrbs to be introduced into and subsequently removed from process cycles in Xeros' chosen fields. The design provides Original Equipment Manufacturers with the ability to make simple changes to their products to incorporate the Company's XOrb technology.
The Group has signed multiple license agreements for its XDrum and XOrb products with leading OEMs in major commercial and domestic markets.
XFiltra™ is a proprietary in-machine filtration technology which prevents harmful microfibres including microplastics, generated during washing cycles, from being released into the world's river and oceans. Microplastics released from synthetic clothing during laundering is one of the largest sources of primary microplastic pollution entering our oceans every year.
For more information, please visit - http://www.xerostech.com/
1
| Details of the person discharging managerial responsibilities / person closely associated
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a)
| Name | Mr Mark Nichols | ||||
2
| Reason for the notification
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a)
| Position/status | Chief Executive Officer | ||||
b)
| Initial notification /Amendment | Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
| Name | Xeros Technology Group Plc | ||||
b)
| LEI | 2138009F3U39GVY7DG06 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
| Description of the financial instrument, type of instrument Identification code | Options over Ordinary shares of 15p each under terms of the Xeros Technology Group plc 2020 Share Option Scheme n/a
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b)
| Nature of the transaction | Grant of share options | ||||
c)
| Price(s) and volume(s)
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d)
| Aggregated information - Aggregated volume - Price
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22,000 n/a | ||||
e)
| Date of the transaction | 1 December 2020 | ||||
f)
| Place of the transaction | Sheffield | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Mr Mark Nichols | ||||
2
| Reason for the notification
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a)
| Position/status | Chief Executive Officer | ||||
b)
| Initial notification /Amendment | Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
| Name | Xeros Technology Group Plc | ||||
b)
| LEI | 2138009F3U39GVY7DG06 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
| Description of the financial instrument, type of instrument Identification code | Xeros Technology Group Plc DAB Scheme Options
n/a
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b)
| Nature of the transaction | Exercise of Deferred Annual Bonus Plan options
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c)
| Price(s) and volume(s)
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d)
| Aggregated information - Aggregated volume - Price
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482 15p | ||||
e)
| Date of the transaction | 1 December 2020 | ||||
f)
| Place of the transaction | Sheffield | ||||