Xeros Technology Group
plc
('Xeros",
the "Company" or the "Group")
Exercise of Warrants, Issue
of Equity
and
Total Voting
Rights
Successful warrant process
raises c.£1.68 million additional cash for the
Company
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 44,961,489 new Ordinary Shares following receipt
of valid notices of exercise at the amended Warrant exercise price
of 2.85 pence per Ordinary Shares. 16,065,575 of these new Ordinary
Shares will be admitted to trading on AIM by way of the Company's
existing block admission arrangements, and separate application for
the remaining 28,895,914 Ordinary Shares has been made by the
Company, with admission to trading on AIM expected to occur on 7
February 2024 ("Admission").
Warrants Now Expired
The final exercise date for the
Warrants was 31 January 2024 at 5.00 pm. In aggregate, the Company
received valid exercise notices in respect of 58,916,729 Warrants
in total, raising c.£1.68 million during the exercise period. The
remaining 68,078,911* Warrants have now expired.
Total Voting Rights
Following Admission, the Company's
issued share capital will consist of 209,896,852 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
|
|
|
| |
*200,000 Warrants were unable to be issued following the
Fundraise in September 2022 due to the necessary registration
details not being provided to the Company.
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.