REG - Xeros Tech Grp plc - Change of Auditor

Xeros TechnologyAnnouncement

18/09/2023 07:00

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RNS Number : 6619M  Xeros Technology Group plc  18 September 2023

18 September 2023

 

 

Xeros Technology Group plc

 

('Xeros' or the 'Company' or the 'Group')

 

Change of Auditor

 

 

Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce
the impact of clothing on the planet, announces that following a competitive
tender process led by the Audit Committee and the Board, it has approved the
appointment of Crowe UK LLP ("Crowe") as the Company's Auditor with immediate
effect. Crowe's re-appointment as auditor for the subsequent financial year
will be formally proposed to shareholders at the Company's next Annual General
Meeting in 2024.

 

Grant Thornton UK LLP ("Grant Thornton") has been the Auditor for Xeros
Technology Group plc since 2019 and the Company's Board of Directors extends
its appreciation to Grant Thornton for their services. Grant Thorton has
resigned as the Company's Auditor and has confirmed to the Company that there
are no matters connected with ceasing to hold office that need to be brought
to the attention of the members or creditors of the Company for the purposes
of section 519 of the Companies Act 2006.

 

Enquiries:

 

 Xeros Technology Group plc                                          Tel: 0114 269 9656

 Neil Austin, Chief Executive Officer

 Alex Tristram, Director of Finance

 Cavendish Capital Markets Limited  (Nominated Adviser and Broker)   Tel: 020 7220 0570

 Julian Blunt/Teddy Whiley, Corporate Finance

 Andrew Burdis/Sunila de Silva, ECM

 Belvedere PR                                                        xeros@belvederepr.com (mailto:xeros@belvederepr.com)

 Cat Valentine                                                       Mob: 07715 769 078

 Keeley Clarke                                                       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.

 

In industrial and domestic laundry and garment manufacturing, traditional wet
processing methods use billions of litres of fresh water, large amounts of
energy and chemicals, damage and weaken fibres, and create 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 revenues from licence fees and royalties.
Currently, the are 8 agreements in place. The addressable markets in
Filtration, Finish and Care are estimated to be £3bn, £2bn and £2bn
respectively.

xerostech.com (http://www.xerostech.com/)

 

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