Last checked at 4 May 2021 16:49
4 May 2021
Xeros Technology Group plc
Publication of Annual Report and Accounts and Notice of Annual General Meeting
Xeros Technology Group plc (AIM: XSG, 'the Group', 'Xeros'), the developer and licensor of platform technologies which transform the sustainability and economics of clothing and fabrics during their lifetime, is pleased to announce the posting today of its annual report and accounts for the year ended 31 December 2020 together with the Notice of Annual General Meeting ('AGM').
Copies of these documents will shortly be available on the Company's website www.xerostech.com/investors for the purposes of AIM Rule 26.
The AGM will be held at the offices of Squire Patton Boggs (UK) LLP, Premier Place, 2 & A Half Devonshire Square, London, EC2M 4UJ on 27 May 2021 at 09.30am. The Board recognises that the AGM is an important event for shareholders, however, in light of current Government Covid-19 restrictions, the Company is instructing shareholders not to attend the AGM in person. The Company's AGM will be purely functional in format to comply with the relevant legal requirements to hold the meeting and for the purpose of approving the resolutions contained in the notice of AGM.
Should shareholders wish to raise any questions prior to the AGM, please do so via email to ir@xerostech.com. The Company will endeavour, where appropriate, to answer such questions by publishing responses on the Company's website at www.xerostech.com following the AGM.
Enquiries:
Xeros Technology Group plc Mark Nichols, Chief Executive Officer Paul Denney, Chief Financial Officer | Tel: 0114 321 6328
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finnCap Limited (Nominated Advisor & Broker) Julian Blunt / Teddy Whiley, Corporate Finance Andrew Burdis / Sunila de Silva, ECM | Tel: 020 7220 0500 |
Notes to Editors
Xeros Technology Group plc has developed and licenses two platform technologies which transform 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 and chemistry used in the dyeing, finishing or laundering of garments and fabrics. They increase the efficiency of these processes which require molecules to be either affixed or removed from substrates. In the case of laundry, they are proven to significantly increase the life of clothes and fabrics. The results being major improvements in economic, operational, product and environmental outcomes.
Xeros' XDrum technology is a low-cost machine drum design which enables XOrbs to be introduced into and subsequently removed from process cycles. 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 technologies with leading OEMs in major commercial and domestic markets.
XFiltra™ is the Company's proprietary washing machine filtration technology which prevents harmful microfibres including microplastics, generated during washing cycles, from being released into the world's rivers and oceans. Microfibres released into the environment from clothing and fabrics during their laundering, being a major source of pollution in the environment and contamination in the food chain.