Last checked at 19 Nov 2019 11:15
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19 November 2019
Xeros Technology Group plc
Results of General Meeting
Xeros Technology Group plc (AIM: XSG, 'the Company', 'Xeros'), the developer and provider of water saving and filtration technologies with multiple commercial applications, is pleased to announce that all of the Resolutions proposed at the General Meeting held in London today to approve the proposed Placing and Open Offer of up to 526,690,502 New Ordinary Shares and other related matters were duly passed.
Full details of the Resolutions were set out in the circular published by Xeros on 1 November 2019 (the "Circular"). The Circular is available for inspection in electronic form on the Company's website, www.xerostech.com (subject to limitations).
Details of the proxies from Shareholders in respect of each of the Resolutions are set out below:
Resolution | For Number | % | Against Number | % | Withheld Number |
1. Authority to allot Relevant Securities | 113,435,145 | 99.88% | 80,120 | 0.07% | 60,829 |
2. Authority to dis-apply statutory pre-emption rights | 113,293,114 | 99.75% | 80,120 | 0.07% | 202,860 |
Notes:
1. Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld).
2. A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" a Resolution.
3. Any proxy appointments which gave discretion to the Chairman have been included in the "For" totals.
The Placing and Open Offer remains conditional upon the Placing and Open Offer Agreement becoming unconditional in all respects and upon Admission. Admission (and completion of the Placing and Open Offer) is expected to occur on 20 November 2019.
This announcement should be read in conjunction with the full text of the Circular issued on 1 November 2019. All capitalised/defined terms used in this announcement and not otherwise defined shall have the meanings given to them in the Circular.
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 Adviser & Broker) Julian Blunt / Teddy Whiley, Corporate Finance Andrew Burdis / Sunila de Silva, ECM
| Tel: 020 7220 0500 |
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Instinctif Partners Adrian Duffield / Chantal Woolcock
| Tel: 020 7457 2020 |
Notes to Editors
Xeros Technology Group plc is a platform technology Group that is transforming water intensive industrial and commercial processes.
Xeros' patented XOrbTM technologies significantly reduce the amount of water used in the washing or dyeing of soft substrates such as garments and fabrics. It enables 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 cleaning, tanning and textiles.
Xeros' XDrumTM technology is a patented, simple, low cost machine drum design which enables XOrbs to be introduced into and subsequently removed from process cycles in Xeros' chosen markets. The design enables rotating drum machine Original Equipment Manufacturers ("OEMs") in the fields of garment manufacture and cleaning, the ability to make simple and low cost changes in their production lines to incorporate the Company's XOrbTM technology.
The Group has signed multiple agreements to develop and license its XDrumTM and XOrbTM products in major commercial and domestic markets.
XFiltraTM is a patented in-machine filtration technology which is designed to prevent harmful micro-plastics generated by washing cycles from being released into the aquacycle. Plastics released from synthetic clothing during washing cycles is one of the single largest sources of primary micro-plastic pollution. For more information, please visit - http://www.xerostech.com/
finnCap, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority ("FCA"), are acting exclusively for the Company and for no‐one else in relation to the Placing, and will not be responsible to any other person for providing the protections afforded to their respective clients nor for providing advice in connection with the matters contained in this announcement.
No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by finnCap nor by any of their respective affiliates, partners or agents (or any of their respective directors, officers, employees or advisers), as to or in relation to, the contents, accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, or any other statement made or purported to be made by or on behalf of finnCap or any of their respective affiliates in connection with the Company or the Placing, and any liability therefor is expressly disclaimed.
FinnCap and each of their respective affiliates accordingly disclaim all and any liability, whether arising in tort, contract or otherwise (save as referred to above) in respect of any statements or other information contained in this announcement.
This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the Placing Shares. Any investment decision to buy Placing Shares in the Placing must be made solely on the basis of publicly available information, which has not been independently verified by finnCap.