REG - Xeros Tech Grp plc - Exercise of Warrants, Issue of Equity and TVR

Xeros TechnologyAnnouncement

02/02/2024 07:00

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RNS Number : 7789B  Xeros Technology Group plc  02 February 2024

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             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

 

*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.

 

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