Xeros Technology Investors - XSG

Xeros Technology Investors - XSG

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Xeros Technology Group Plc XSG London Ordinary Share GB00BMGYBJ57 ORD 15P
  Price Change Price Change % Stock Price Last Trade
-2.50 -0.96% 258.00 14:12:30
Open Price Low Price High Price Close Price Previous Close
259.00 258.00 259.00 260.50
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matt131: Institutional investor coming on board?
jpuff: Xeros Technology Group plc Proposed Share Capital ReorganisationSource: UK Regulatory (RNS & others)TIDMXSGRNS Number : 5859EXeros Technology Group plc09 November 20209 November 2020Xeros Technology Group plcProposed Share Capital ReorganisationXeros Technology Group plc (AIM: XSG, 'the Group', 'Xeros'), the developer and licensor of platform technologies which transform the sustainability and economics of clothing and fabrics during their lifetime, today announces a proposed share capital reorganisation ("Capital Reorganisation") of the existing ordinary share capital of the Company.The effect of the proposed Capital Reorganisation will be to reduce the number of issued ordinary shares of 0.15 pence each in the Company ("Ordinary Shares") by a multiple of 100 (the "Consolidation"), which is expected to increase the trading price of the resulting ordinary share proportionally.The Board considers the Capital Reorganisation to be in the best interests of the Company and its shareholders as a whole ("Shareholders"), as it believes that the Capital Reorganisation should improve the market liquidity of and trading activity in the Company's shares. The Directors believe that the existing share capital structure is no longer appropriate, as the high number of shares in issue combined with the relatively low price per share is thought to result in excess volatility and reduced liquidity in the Company's shares. By proceeding with the Capital Reorganisation, The Directors anticipate that the Capital Reorganisation should improve the liquidity and the marketability of the Company's shares with institutional investors in the UK and overseas.As it is proposed that all existing ordinary shares held in the Company be consolidated, the proportion of the issued ordinary share capital of the Company held by each Shareholder immediately before and after the Capital Reorganisation will remain relatively unchanged, other than for changes that may arise from the rounding for fractional entitlements.Implementation of the Capital Reorganisation requires the approval of Shareholders. This approval is being sought at a General Meeting of the Company ("GM"), which is scheduled to be held at 10:00 a.m. on 25 November 2020 at the offices of Squire Patton Boggs (UK) LLP at Premier Place, 2 & A Half Devonshire Square, London, EC2M 4UJ at which the resolution necessary to give effect to the Capital Reorganisation will be put to Shareholders.A circular ("Circular") containing the notice of GM, which provides details of the Capital Reorganisation, and Form of Proxy, is to be posted to Shareholders today. The Circular and notice of GM will also be made availableat the Company's website for the purposes of AIM Rule 26, www.xerostech.com. Further details in relation to the Share ConsolidationAs at 6 November 2020 (being the latest practicable date prior to the publication of this announcement), the Company had 1,994,088,097 Ordinary Shares in issue ("Existing Ordinary Shares"), with each share having a mid-market price at the close of business on such date (as derived from the Daily Official List) of 1.465 pence per share.The Capital Reorganisation will consist of the following steps:-- the Company intends to issue 3 further Ordinary Shares prior to the Record Date, so as to ensure that the total number of Ordinary Shares in issue immediately prior to completion of the Capital Reorganisation is exactly divisible by 100. The additional Ordinary Shares will be issued on 25 November 2020 at a subscription price per Ordinary Share of 1.465 pence (being the closing middle market price of an Ordinary Share on 6 November 2020, being the latest practicable date prior to publication of this announcement). As a result of this admission the number of existing Ordinary Shares in issue immediately prior to the GM will be 1,994,088,100.-- the Consolidation of every 100 Existing Ordinary Shares of 0.15 pence each into one New Ordinary Share of 15 pence each ("New Ordinary Shares").The Capital Reorganisation is anticipated to become effective at 6 p.m. on 25 November 2020. The New Ordinary Shares arising on implementation of the Capital Reorganisation will have the same rights as the Existing Ordinary Shares, including in respect of voting rights, entitlement to dividends and other rights. The issued share capital of the Company immediately following the Capital Reorganisation is expected to comprise 19,940,881 New Ordinary Shares, which will be equal to the number of Existing Ordinary Shares immediately prior to the Capital Reorganisation divided by 100.To reflect the Capital Reorganisation, the Board is proposing to reduce the number of shares that are subject to outstanding options ("Options") by a multiple of 100 and increase the option exercise price by the same multiple. This includes those shares which have been applied for under the Company's block admission ("Block Admission"). This would apply to any new Options that are issued after the date of this announcement and prior to the Record Date. Any fractional entitlement to shares will be rounded down. The overall amount payable by an Option holder looking to exercise his or her Option after the Capital Reorganisation will remain the same and the proportion of the issued share capital over which an Option is subsisting will also remain the same.Application will be made for the New Ordinary Shares to be admitted to trading on AIM. Dealings in the Existing Ordinary Shares will cease at close of business on the date of the GM and dealings in the New Ordinary Shares are expected to commence the following business day.Effect of the Capital ReorganisationFor purely illustrative purposes, examples of the effects of the Capital Reorganisation (should shareholders at the GM approve it) are set out below: Number of Existing Ordinary Shares held New Ordinary Shares following the Capital Reorganisation 99 0 ----------------------- 100 1 ----------------------- 1,100 11 ----------------------- The example below shows a holding of Existing Ordinary Shares which will be subject to a fractional entitlement, the value of which will depend on the market value of the New Ordinary Shares at the time of sale. Number of Existing New Ordinary Shares Fractional entitlement Ordinary Shares held following the Capital following the Capital Reorganisation Reorganisation 2,050 20 0.5 ----------------------- ----------------------- Further details on fractional entitlements to New Ordinary Shares is set out in the Circular to be sent to Shareholders today.Expected timetable of principal events Publication and posting of Circular to 9 November 2020 Shareholders Latest time and date for receipt of Forms 10:00 a.m. on 23 November of Proxy 2020 Additional 3 Ordinary Shares issued 8.00 a.m. on 25 November 2020 General Meeting 10:00 a.m. on 25 November 2020 Latest time and date for dealings in Existing 6:00 p.m. on 25 November Ordinary Shares 2020 Record Date 6:00 p .m. on 25 November 2020 Expected date on which New Ordinary Shares 8.00 a.m. on 26 November will be admitted to trading on AIM 2020 Expected date for CREST accounts to be 26 November 2020 credited with New Ordinary Shares in uncertificated form Expected date for dispatch of certificates Week commencing 30 November in respect of those New Ordinary Shares 2020 to be issued in certificated form Statistics relating to the Capital Reorganisation Existing Ordinary Shares in issue at the date of this document 1,994,088,097 Expected existing Ordinary Shares in issue immediately prior to the General Meeting 1,994,088,100 Conversion ratio of Existing Ordinary 100 Existing Ordinary Shares to New Ordinary Shares Shares: one New Ordinary Share Total expected number of New Ordinary Shares in issue following the Capital Reorganisation 19,940,881 ISIN code for the New Ordinary Shares GB00BMGYBJ57 SEDOL code for the New Ordinary Shares BMGYBJ5 Effect of COVID-19 regulations on the General MeetingIn light of the Covid-19 restrictions on gatherings, the Company strongly encourages all Shareholders to submit their Form of Proxy, appointing the Chairman of the GM as proxy. Voting on the resolutions will be by way of a poll rather than a show of hands. A poll ensures that the votes of Shareholders who are unable to attend the GM, but who have appointed proxies, are taken into account in the final voting results. Given the current restrictions on attendance in person, Shareholders are encouraged to appoint the chair of the meeting as their proxy rather than a named person who will not be permitted to attend the physical meeting. Shareholders are further asked to appoint the chair of the meeting as their proxy electronically where possible.Shareholders will find accompanying the Circular, a Form of Proxy, for use in connection with the GM. The Form of Proxy should be completed and returned in accordance with the instructions thereon so as to be received by the Company's Registrar Agents, Neville Registrars, as soon as possible and in any event not later 10:00 a.m. on 23 November 2020.RecommendationThe Directors consider that the Capital Reorganisation is in the best interests of the Company and its Shareholders as a whole. Accordingly, the Directors unanimously recommend that Shareholders vote in favour of the Resolutions to be proposed at the GM, as they intend to do in respect of their aggregate interests of 46,200,000 Existing Ordinary Shares (representing approximately 2.32 per cent. of the Existing Ordinary Shares).For more information, please contact:Enquiries: Xeros Technology Group plc Tel: 0114 321 6328 Mark Nichols, CEO Paul Denney, CFO www.xerostech.com finnCap Julian Blunt, Teddy Whiley (Corporate Finance) Andrew Burdis, Sunila de Silva (ECM) www.finncap.com +44 (0) 20 7220 0500 This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDCARVDLBBBFLXFBZ(END) Dow Jones NewswiresNovember 09, 2020 02:00 ET (07:00 GMT)
davemac3: I'd expect green/ethical investors to be all over Xeros, if not now then in the not too distant future.
judge grinder: once registered, you can put your questions to the company at 16.30 today. www.investormeetcompany.com/xeros-technology-group-plc/register-investor CEO Mark Nichols and CFO Paul Denney will provide a live presentation relating to today's results, via the Investor Meet Company platform on Wednesday 23rd September at 4.30 p.m.
marketanalyst1: CONTRARIAN INVESTING AT ITS BEST Contrarian investing means to invest against the crowd, and to be sceptical of general market sentiment. It’s an investing strategy that rewards patience, confidence, and rationality with high returns, and is the strategy that most of history’s world-class investors applied to earn their outsized gains. It goes against human nature to stand out, to zig when others zag, and to be in the minority for your beliefs and choices. But that’s why contrarian investing is so profitable. If it were easy, everyone would be doing it. Case in point is London-listed Xeros Technology (LON:XSG). The platform technology group, that transforms water-intensive industrial and commercial processes, is pushing the boundaries of technology and this should pay off very soon when it announces the commercial agreement, alongside a substantial milestone payment, with Ramsons; the largest supplier of garment finishing equipment in South Asia. Binding ‘Heads of Terms’ were signed with the leading Asian OEM at beginning of September 2019 to develop, manufacture and sell garment finishing equipment using Xeros' technology on an exclusive basis across South Asia and Africa. That, for those unaware, equates to 62 countries! Laura Cooper of Berenberg believes the agreement, on its own, should command a share price in excess of 4.25p and circa 20p-plus when you factor-in the high probability of similar deals that are likely to be penned over the next 18 months. In the meantime, the company has: • No debt. • A healthy cash balance of circa £6.1m • A market cap of £8m. • A ground-breaking, fully patented, highly sought-after, technology platform valued at a nonsensical £1.9m (£8m less cash of £6.1m). • Royalties now due from SeaLion, China's largest commercial laundry equipment manufacturer. First installation was completed in September 2019. Royalties are based upon the number and value of machines sold and a percentage of ongoing customer savings. • Royalties now due from IFB, India's largest commercial laundry equipment manufacturer. Royalties are based upon the number and value of XDrum commercial washing machines sold and a percentage of ongoing customer savings. • 67.9% of the company’s shares are in the hands of institutional investors, 2.1% are in the hands of directors, 19.4% are in the hands of LONGS (according to Argus Vickers), and only 10.6% constitutes free float. And if all that doesn't make you sit up and listen then nothing will. Thus, I have only two words: Obscene Upside. IMHO. ATB.
fatgreek: There should be a law against MMs being so erratic with a share price with no justification.It was down 10% and on nothing rose again to plus .9%.They shouldn't be allowed to intimidate investors. As some would sell on such random drops. All imo of course...
nanotech1: - missing promised deadlines - 1p placing says it all - Investors loosing interest and selling up. - How long before next fund raise? Waiting, taking stock, but not tempted to buy yet. I'm afraid the mantra of 2p or not 2p does not cut it for me. Who knows, the mantra might change to 2pee or not 2pee if the share price goes sub 1p. Let's wait and see.
brucie5: The Twitter feed is indeed interesting, and Ramsens seems to have partnered them in the production of the large machine on display. Water reduction and prevention of microplastics are huge benefits.... but. Investors need to see the money.
agent x11: speculators took their money out, many lost and many won. Now investors piling for value.
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