Xeros Tech Regulatory News (XSG)

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Xeros Technology Group plc ("Xeros" or the "Company")

Result of Fundraising

Xeros Technology Group plc (AIM: XSG), the developer and provider of water saving and filtration technologies with multiple commercial and domestic applications, announced on 24 April 2020 the launch of a fundraising comprising a placing by finnCap (the "Placing") in conjunction with an offer via PrimaryBid (the "PrimaryBid Offer") (together the "Fundraising").

The Company is pleased to announce that the PrimaryBid Offer successfully completed and closed at 11.34 a.m. on 24 April 2020. Due to high demand, the PrimaryBid Offer was oversubscribed and closed early.

Following the successful closing of the PrimaryBid Offer, the Company has conditionally raised gross proceeds of £6 million via the Fundraising, by the Placing of 1,140,000,000 new ordinary shares and the Primary Bid Offer of 60,000,000 new ordinary shares, at 0.5 pence per New Ordinary Share.

Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. Subject to passing of the Resolutions, it is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence on or around 8 a.m. on 14 May 2020.

Defined terms in this announcement shall have the same meaning as in the Company announcement of 24 April 2020, unless otherwise specified.

Posting of Circular & Notice of General Meeting

Completion of the Fundraising is conditional upon, amongst other things, approval by existing Shareholders at a General Meeting of the Company, expected to be held at two places being the offices of Squire Patton Boggs (UK) LLP at 7 Devonshire Square, London EC2M 4YH and 6 Wellington Place, Leeds LS1 4AP at 10.00 a.m. on 13 May 2020. The Circular, containing background information to the Fundraising, together with a notice of the General Meeting, will be posted to Shareholders on 27 April 2020.

Commenting on the PrimaryBid Offer, Mark Nichols, CEO of Xeros said: "I am very pleased that PrimaryBid has enabled us to include retail investors in our fundraising. The fact that the PrimaryBid Offer was heavily oversubscribed and had to close early is an excellent outcome and confirms that retail investors continue to have strong support for Xeros, even in the current extraordinary times."

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