REG - Xeros Tech Grp plc - Result of AGM

Xeros TechnologyAnnouncement

25/06/2024 13:00

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RNS Number : 8165T  Xeros Technology Group plc  25 June 2024

25 June 2024

 

Xeros Technology Group plc

('Xeros" or the "Company")

 

Result of AGM

 

Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce
the impact of clothing on the planet, announces the results of voting on the
resolutions at its Annual General Meeting ("AGM") held earlier today.

 

A poll was held on each of the resolutions and all the resolutions were duly
passed by the required majority. Resolutions 1 to 7 were passed as ordinary
resolutions, and resolutions 8 to 11 were passed as special resolutions.

 

      Ordinary Resolutions                                                       Votes for    %      Votes against  %    Total votes instructed  % of issued share capital voted  Votes withheld
 1.   To receive the Company's financial statements                              235,145,859  100.0  160            0.0  235,146,019             45.2                             -
 2.   To elect Alexander Tristram as a Director                                  235,145,668  100.0  351            0.0  235,146,019             45.2                             -
 3.   To re-elect Klaas De Boer as a director                                    235,145,168  100.0  851            0.0  235,146,019             45.2                             -
 4.   To re-elect Rachel Nooney as a Director                                    235,118,994  100.0  359            0.0  235,119,353             45.2                             26,666
 5.   To reappoint Crowe UK LLP as auditor                                       235,145,460  100.0  559            0.0  235,146,019             45.2                             -
 6.   To authorise the Directors to determine auditor remuneration               235,119,201  100.0  51             0.0  235,119,252             45.2                             26,767
 7.   To authorise the Directors to allot shares                                 228,682,900  97.3   6,436,453      2.7  235,119,353             45.2                             26,666
 8.   General authority to disapply pre-emption rights                           228,665,057  97.3   6,454,296      2.7  235,119,353             45.2                             26,666
 9.   Disapplication of pre-emption rights in connection with an acquisition or  228,682,900  97.3   6,436,453      2.7  235,119,353             45.2                             26,666
      specified capital investment
 10.  To authorise the Company to purchase its own shares                        228,683,607  97.3   6,435,746      2.7  235,119,353             45.2                             26,666
 11.  To amend the Articles of Association                                       235,119,095  100.0  258            0.0  235,119,353             45.2                             26,666

 

 ·   Each shareholder present in person, or by proxy, was entitled to one vote per
     share held.
 ·   Proxy votes which gave discretion to the Chair of the Annual General Meeting
     have been included in the 'For' total of the appropriate resolution.
 ·   A 'Vote Withheld' is not a vote in law and is not counted in the calculation
     of the proportion of the votes 'For' and 'Against' any resolution nor in the
     calculation of the proportion of 'Total Votes Instructed' for any resolution.
 ·   Votes 'For' and 'Against' any resolution are expressed as a percentage of
     votes validly cast for that resolution.
 ·   At the close of business on 25 June 2024 the total number of ordinary shares
     in issue was 520,686,413 and at that time, the Company did not hold any shares
     in treasury.

 

The full text of the resolutions is available for inspection on the Company's
website http://www.xerostech.com/investor/resultsandreports/
(http://www.xerostech.com/investor/resultsandreports/)

 

Enquiries

 

 Xeros Technology Group plc             Via Belvedere

 Neil Austin, Chief Executive Officer

 Alex Tristram, Finance Director

 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 Communications               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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