Last checked at 18 Jan 2024 07:00
18 January 2024
Xeros Technology Group plc
('Xeros", the "Company" or the "Group")
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.
Following the exercise of the Warrants above, Mr de Boer will be interested in 5,050,000 Ordinary Shares, representing 3.29 per cent. of the Company's issued share capital. Should all outstanding warrants be exercised, Mr de Boer would be interested in 1.82% of the Company's issued share capital.
Enquiries
Xeros Technology Group plc Neil Austin, Chief Executive Officer Alex Tristram, Director of Finance
| Tel: 0114 269 9656 |
Cavendish Capital Markets Limited (Nominated Adviser and Broker) Julian Blunt/Teddy Whiley, Corporate Finance Andrew Burdis/Sunila de Silva, ECM
| Tel: 020 7220 0570 |
Belvedere PR Cat Valentine Keeley Clarke | xeros@belvederepr.com Mob: 07715 769 078 Mob: 07967 816 525 |
About Xeros
Xeros Technology plc has developed patented and proven, industry-leading technologies which reduce the environmental impact of how industries make and care for clothes.
The traditional wet processing methods used in industrial and domestic laundry and garment manufacturing consume billions of litres of fresh water and large amounts of energy and chemicals, as well as damaging and weakening clothing fibres and creating rising levels of environmental pollution. It is estimated that washing machines contribute 35% of the 171 trillion microplastic particles in the ocean.
A range of actors, including consumers, the media NGOs and regulators are exerting pressure on these industries, with legislative action beginning to be taken.
Xeros' three main technologies, Filtration, Finish, and Care, facilitate garment manufacturers, industrial laundries, domestic washing machine manufacturers and consumers, to reduce their environmental impact, whilst also significantly improving efficiency in the process.
Xeros' model is to generate revenue from licensing its technologies, generating royalties and the sale of consumables. Currently there are 8 agreements in place. The addressable markets in Filtration, Finish and Care are estimated to be valued at £350m p.a., £132m p.a. and £3bn p.a. respectively.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Mr Klaas de Boer | ||||
2 | Reason for the notification - Exercise of Warrants | |||||
a) | Position/status | Chairman | ||||
b) | Initial notification /Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
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 | |||||
a)
| Description of the financial instrument, type of instrument Identification code | Warrants over Ordinary Shares of 0.1p each exercisable at 2.85p per Ordinary Share n/a | ||||
b) | Nature of the transaction | Exercise of Warrants | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
As in c) above As in c) above | ||||
e) | Date of the transaction | 17 January 2024 | ||||
f) | Place of the transaction | Off market transaction | ||||