Xeros Technology Group plc Directorate changes (6939P)

TIDMXSG

RNS Number : 6939P

Xeros Technology Group plc

12 February 2019

12 February 2019

Xeros Technology Group plc

Directorate changes

Xeros Technology Group plc (AIM: XSG, 'Xeros', 'the Group'), the developer and provider of water saving technologies with multiple commercial applications, today announces that John Samuel has resigned as non-executive Chairman with immediate effect. David Armfield, who joined the Board in June 2018, has been appointed interim non-executive Chairman.

Separately David Baynes, a director of IP Group plc, joins the Board as a non-executive director today. He is a Chartered Accountant and will Chair the Audit Committee.

David Graham Baynes, aged 55, is currently Chief Operating Officer at IP Group plc and has been on its Board since March 2014. He was previously a co-founder and the CEO of AIM-listed Fusion IP plc and was also a co-founder, CEO and CFO of Toad plc (now 21st Century Technology plc). David also worked at Celsis International plc from its incorporation to its flotation on the full list of the London Stock Exchange and was previously CFO of Codemasters Limited, at the time, the UK's largest privately-owned games company.

David Armfield, interim non-executive Chairman, commented:

"On behalf of the Board, I would like to thank John for his considerable contribution as Chairman since the business listed in March 2014. It has progressed from early stage technology development to its current position of having multiple proprietary applications in the process of commercialisation. As he steps down in order to devote more time to his other executive and non-executive Board roles - we wish him well for the future. I would also like to welcome David to the Board who brings with him a huge amount of experience in growth companies, both private and public."

Enquiries:

 
 Xeros Technology Group plc                           Tel: [phone] 
  David Armfield, interim non-executive Chairman       6328 
 
 Jefferies International Limited (Nominated Adviser   Tel: [phone] 
  and Joint Broker)                                    8000 
  Simon Hardy / Will Soutar 
 
 Berenberg (Joint Broker)                             Tel: [phone] 
  Chris Bowman / Ben Wright / Laure Fine               7800 
 
 Instinctif Partners                                  Tel: [phone] 
  Adrian Duffield / Kay Larsen / Chantal Woolcock      2020 
 

AIM Rules for Companies Schedule 2 (g) information

David Baynes, holds or has held the following directorships in the five years preceding his appointment to the Xeros Technology Group Plc Board.

 
 Current directorships: 
 Director, IPG USA (LP) Limited                  November 2018 - Present 
 Director, Imperial Innovations Limited          February 2018 - Present 
  Director, Touchstone Innovations Investments    February 2018 - Present 
  Limited 
 Director, Imperial College Company              February 2018 - Present 
  Maker Limited 
 Director, Innovations Limited Partner           February 2018 - Present 
  Ltd 
 Director, Touchstone Innovations Plc            December 2017 - Present 
 Director, IP2IPO Asia-Pacific Limited           February 2017 - Present 
 Director, IP2IPO US Partners Limited            December 2016 - Present 
 Director, IP2IPO Americas Limited               November 2016 - Present 
 Director, IP2IPO Carry Partner Limited          September 2016 - Present 
 Director, IP2IPO Portfolio (GP) Limited         September 2016 - Present 
 Director, Top Technology Ventures               August 2015 - Present 
  Limited 
 Finance Director, IP2IPO FI Limited             September 2014 - Present 
 Director, Intelligent Ultrasound Group          August 2014 - Present 
  Plc 
 Finance Director, IP2IPO Limited                April 2014 - Present 
 Finance Director, North East Technology         April 2014 - Present 
  (GP) Limited 
 Finance Director, IP Venture Fund               April 2014 - Present 
  (GP) Limited 
 Director, IP Group Plc                          March 2014 - Present 
 Director, MedaPhor Limited                      June 2010 - Present 
 Director, Morvus                                September 2010 - Present 
 Director, Demasq Limited                        April 2008 - Present 
 Director, Phase Focus Limited                   June 2006 - Present 
 Director, Fusion IP Nottingham Limited          March 2008 - Present 
 Director, Fusion IP Two Limited                 March 2008 - Present 
 Director, Fusion IP Cardiff Limited             November 2006 - Present 
 Finance Director, Biofusion Licensing           September 2006 - Present 
  (Sheffield) Limited 
 Director, Fusion IP Limited                     November 2004 - Present 
 Director, Out Of The Blue Consulting            March 2003 - Present 
  Limited 
 Director, Fusion IP Sheffield Limited           January 2003 - Present 
 
 Previous directorships, last 5 years: 
 Director, Arthurian Life Sciences               July 2013 - July 2015 
  Limited 
 Director, Rhedyn Limited                        March 2013 - March 2016 
 Director, Wound Genetics Limited                November 2012 - September 
                                                  2016 
 Director, Proflu Limited                        November 2012 - July 2016 
 Director, Wound Genetics Therapeutics           November 2012 - September 
  Limited                                         2016 
 Director, Wound Genetics Prognostics            November 2012 - September 
  Limited                                         2016 
 Director, Rheometrix Microsystems               April 2012 - September 2016 
  Limited 
 Director, Perlemax Limited                      January 2012 - September 
                                                  2014 
 Director, Medipex Limited                       April 2011 - September 2014 
 Director, Mesuro Limited                        September 2008 - September 
                                                  2014 
 Director, Magnomatics Ltd                       June 2008 - November 2014 
 Director, Biohydrogen Limited                   March 2007 - September 2016 
 Director, Alesi Surgical Limited                March 2007 - January 2017 
 Director, Medella Therapeutics Limited          February 2007 - June 2014 
 CEO, Mantelum Limited                           June 2006 - September 2016 
 Director, Diurnal Limited                       October 2005 - October 2014 
 

David Baynes was a Director of CellTran Limited, which developed a skin treatment for burns and chronic wounds using a patient's living cells but went into administration in May 2008 after running out of funds for product development and distribution.

There are no further disclosures to be made under Schedule 2(g) of the AIM Rules for Companies.

Notes to Editors

Xeros Technology Group plc (LN: XSG) is a platform technology company that is reinventing water intensive industrial and commercial processes.

Xeros' uses its patented XOrb(TM) technologies to significantly reduce the amount of water used in a number of major applications with the remaining water becoming far more efficient in either affixing or removing molecules from substrates such as fabrics and garments. The result being significant improvements in economic, operational and sustainability outcomes.

Xeros has three divisions working in the garment finishing (Textile Technologies), tanning (Tanning Technologies, branded Qualus) and cleaning/laundry (Cleaning Technologies) markets. In cleaning/laundry, the company has three applications covering domestic laundry, commercial laundry (branded "Hydrofinity") and the cleaning of high-performance workwear (branded "Marken").

For more information, please visit - http://www.xerostech.com/

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February 12, 2019 02:00 ET (07:00 GMT)