REG - Xeros Tech Grp plc - Posting of Circular and Notice of General Meeting

Xeros TechnologyAnnouncement

08/04/2024 16:30

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RNS Number : 7347J  Xeros Technology Group plc  08 April 2024

 

 

Xeros Technology Group plc

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

 

Posting of Circular and Notice of General Meeting

 

Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce
the impact of clothing on the planet, is pleased to confirm that, further to
the announcement of 4 April 2024, the shareholder circular (the "Circular")
providing further details of the Placing, Subscription and Retail Offer and
convening the General Meeting, together with a Form of Proxy, has been posted
to Shareholders today.

As noted, the Circular contains the notice of the General Meeting to be held
at the Company's offices at Unit 2 Evolution Advanced Manufacturing Park,
Whittle Way, Catcliffe, Rotherham S60 5BL, United Kingdom at 11:00 a.m. on 25
April 2024  (the "General Meeting").

A copy of the Circular will also shortly be available from the Company's
website (https://www.xerostech.com/investor
(https://www.xerostech.com/investor) ).

Capitalised terms not otherwise defined in the text of this announcement have
the meanings given to them in the Company's announcement dated 4 April 2024.

 

 

Enquiries:

 

 Xeros Technology Group plc                                          Tel: 0114 269 9656

 Neil Austin, Chief Executive Officer

 Alex Tristram, Finance Director

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

 Julian Blunt / Teddy Whiley / George Dollemore, Corporate Finance

 Andrew Burdis / Sunila de Silva, ECM

 Belvedere PR                                                        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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