Xeros Technology Group plc Application for Block Listing (3051L)

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RNS Number : 3051L

Xeros Technology Group plc

11 January 2021

Xeros Technology Group plc

Application for Block Listing

Application has been made to the London Stock Exchange for a block listing totaling 100,000 new ordinary shares of 15p each in the capital of the Company ("New Ordinary Shares"). These New Ordinary Shares are being reserved under a block admission and may be issued in order to satisfy existing and future awards of ordinary shares ("Ordinary Shares") under the Company's existing Enterprise Management Incentive Scheme ("EMI") Share Option Scheme.

The shares will be issued fully paid and will, upon issue, rank pari passu in all respects with the Company's existing issued Ordinary Shares. It is expected that admission will be effective for the New Ordinary Shares on 15 January 2021.

The Company will announce the number of Ordinary Shares granted and admitted to trading under the Block Admission every 6 months, as required by the UK Listing Rules.

ENDS

 
                                                   Tel: [phone] 
   Xeros Technology Group plc                       6328 
   Mark Nichols, Chief Executive Officer 
   Paul Denney, Chief Financial Officer 
 finnCap Limited (Nominated Adviser, Broker)       Tel: [phone] 
  Julian Blunt / Teddy Whiley, Corporate Finance    0570 
  Andrew Burdis, ECM 
 

Notes to Editors

Xeros Technology Group plc develops and licenses platform technologies which transform the sustainability, performance and economics of water intensive industrial and commercial processes.

Xeros' patented XOrb(TM) technologies significantly reduce the amount of water used in the dyeing, finishing or laundering of soft substrates such as garments and fabrics. They enable the remaining water to become far more efficient and effective in either affixing or removing molecules, the result being improvements in economic, operational, product and sustainability outcomes. The Group is applying its technology in the fields of apparel manufacturing, tanning and commercial and domestic laundry.

Xeros' XDrum(TM) technology is a patented, simple, low cost machine drum design which enables XOrbs to be introduced into and subsequently removed from process cycles in Xeros' chosen fields. The design provides Original Equipment Manufacturers ('OEMs') with the ability to make simple and low-cost changes in their products to incorporate the Company's XOrb technology.

The Group has signed multiple license agreements for its XDrum and XOrb products in major commercial and domestic markets.

XFiltra(TM) is a proprietary in-machine filtration technology which prevents harmful microplastics, generated during washing cycles, from being released into the world's river and oceans. Microplastics released from synthetic clothing during laundering is one of the largest sources of primary microplastic pollution entering oceans every year.

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

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January 11, 2021 11:53 ET (16:53 GMT)