REG - Xeros Tech Grp plc - Results of Open Offer

Xeros TechnologyAnnouncement

19/10/2022 13:15

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RNS Number : 4443D  Xeros Technology Group plc  19 October 2022

 

For immediate release

 19 October 2022

Xeros Technology Group plc

 

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

Results of Open Offer

 

Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce
the impact of clothing on the planet, announced on 30 September 2022 the
details of a proposed Open Offer (the "Open Offer") to raise gross proceeds of
up to approximately £1.0 million through the issue of up to 20,386,699 Open
Offer Shares at 5 pence each.

 

The Open Offer closed for acceptances at 11:00 a.m. today. The Company
announces that it has received valid acceptances under the Open Offer in
respect of 7,195,640 Open Offer Shares from Qualifying Shareholders. This
represents approximately 35.30% of the Open Offer Shares offered to Qualifying
Shareholders pursuant to the Open Offer.

 

The Open Offer is conditional upon (1) the approval by Shareholders of all of
the Resolutions at the Company's General Meeting being passed and (2)
Admission occurring.

 

Application has been made to the London Stock Exchange for the New Ordinary
Shares to be admitted to trading on AIM. It is expected that Admission will
become effective and dealings will commence in the New Ordinary Shares at 8.00
a.m. on 21 October 2022.

 

This announcement should be read in conjunction with the full text of the
circular issued on 3 October 2022 ("Circular"). All capitalised/defined terms
used in this announcement and not otherwise defined shall have the meanings
given to them in the Circular.

 

Enquiries:

 

 Xeros Technology Group plc                                          Tel: 0114 321 6328

 Neil Austin, Chief Executive Officer

 Paul Denney, Chief Financial Officer

 finnCap Limited (Nominated Adviser & Broker)                        Tel: 020 7220 0500

 Julian Blunt / Teddy Whiley / George Dollemore, Corporate Finance

 Andrew Burdis / Sunila de Silva, ECM

 Yellow Jersey PR                                                    Tel: 020 3004 9512

 Sarah Hollins / Lilian Filips / Laurie Gellhorn

Notes for editors:

POWERED BY SCIENCE, XEROS CREATE TECHNOLOGIES ENGINEERED FOR THE FUTURE

Born out of textile research and advancing new standards of performance and
responsibility, Xeros' technologies revolutionise the way we make and clean
our clothes, conserving water and preventing waste. Designed to impact
industries and people on a global scale, Xeros transforms the performance,
impact and economics of the fashion and washing machine industry.

Xeros enables the scaling of its innovations and impact by licencing its
intellectual property to partners across the globe. Their work has, to date,
created 38 patent families.

Xeros' technologies are already in use in major global industries, including
commercial and home laundry and garment manufacture. So far, these
technologies have saved millions of litres of water and could prevent billions
of microfibres from ending in our oceans.

TO THE POWER OF CHANGE

xerostech.com

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