REG - Xeros Tech Grp plc - Exercise of warrants and Total Voting Rights

Xeros TechnologyAnnouncement

19/01/2024 15:45

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RNS Number : 3484A  Xeros Technology Group plc  19 January 2024

Xeros Technology Group plc

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

 

 

Exercise of warrants

 

and

 

Total  Voting Rights

 

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 1,502,405 new
Ordinary Shares following receipt of valid notices of exercise at the amended
Warrant exercise price of 2.85 pence per share.  The new Ordinary Shares so
issued will be admitted to trading on AIM by way of the Company's existing
block admission arrangements.

 

Warrant holders have until 5.00 pm on 31 January 2024 to exercise any
remaining Warrants held by them.

 

The Company's issued share capital now consists of 152,485,322 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             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.

 

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.

 

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