Last checked at 26 Jan 2024 13:35
26 January 2024
Xeros Technology Group plc
('Xeros", the "Company" or the "Group")
Exercise of Warrants
and
Total Voting Rights
Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, announces that further to the amendments to the terms of the warrants to subscribe for ordinary share of 0.1 pence each (respectively "Warrants" and "Ordinary Shares"), as approved by warrant holders on 21 December 2023, the Company has issued 12,450,041 new Ordinary Shares, following receipt of valid notices of exercise at the amended Warrant exercise price of 2.85 pence per share. The new Ordinary Shares so issued will be admitted to trading on AIM by way of the Company's existing block admission arrangements.
Warrant holders have until 5.00 pm on 31 January 2024 to exercise any remaining Warrants held by them.
The Company's issued share capital now consists of 164,935,363 Ordinary Shares with voting rights, with no shares held in treasury. This figure may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to (i) the Company's Articles, (ii) the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.
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.