We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Xeros Technology Group Plc | LSE:XSG | London | Ordinary Share | GB00BMGYBJ57 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.325 | 1.30 | 1.35 | 1.325 | 1.325 | 1.325 | 343,534 | 08:00:07 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Industrial Patterns | 164k | -6.93M | -0.0459 | -0.29 | 1.99M |
TIDMXSG
RNS Number : 4784V
Xeros Technology Group plc
04 December 2023
4 December 2023
Xeros Technology Group plc
('Xeros", the "Company" or the "Group")
Posting of Circular
and
Notice of Warrant Holder Meeting
Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, confirms that further to the announcement on 29 November 2023, the Company has today posted a circular, notice of warrant holder meeting and form of proxy to warrant holders.
The circular and notice of warrant holder meeting are also now available on the Company's website at www.xerostech.com pursuant to AIM Rule 26. The warrant holder meeting will be held at 11.00 a.m. on 21 December 2023 at the offices of Squire Patton Boggs (UK) LLP at 60 London Wall, London, EC2M 5TQ.
Background to the proposed warrant amendment
There are currently in issue 126,992,846warrants to subscribe for ordinary shares at 5 pence per share ("Warrants"), which were issued in October 2022 as part of the fundraise undertaken by the Company at that time.
Following requests from certain Warrant holders, the Board is proposing to amend the terms of the Warrants with the opportunity to exercise the Warrants and subscribe for Ordinary Shares at a reduced exercise price of 2.85 pence per share (the "New Exercise Price"), with a view to bringing additional capital into the business in the near-term in a cost-effective manner. The New Exercise Price has been calculated on the basis of a discount of approximately 25 per cent to the Company's twelve month volume weighted average share price.
Timetable of events
Event Date and time Posting of this document and Form of Proxy 4 December 2023 Latest time and date for receipt of Form of Proxy 11.00 a.m. on 19 December 2023 Voting record date for the Warrant Holder Meeting 6.00 p.m. on 19 December 2023 Warrant Holder Meeting 11.00 a.m. on 21 December 2023 Announcement of the result of the Warrant Holder Meeting 21 December 2023 Expected final exercise date of Warrants if Resolution is passed at Warrant Holder 5:00 p.m. on 31 January 2024 Meeting 1. All references to times in the above timetable are to London times.
2. Each of the times and dates in the above timetable is subject to change without further notice. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Warrant Holders by an announcement through a Regulatory Information Service provider.
Enquiries
Xeros Technology Group plc Tel: 0114 269 9656 Neil Austin, Chief Executive Officer Alex Tristram, Director of Finance Cavendish Capital Markets Limited Tel: 020 7220 0570 (Nominated Adviser and Broker) Julian Blunt/Teddy Whiley, Corporate Finance Andrew Burdis/Sunila de Silva, ECM Belvedere PR 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 GBP350m p.a., GBP132m p.a. and GBP3bn p.a. respectively.
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.
END
CIRBDBDDSGGDGXD
(END) Dow Jones Newswires
December 04, 2023 02:00 ET (07:00 GMT)
1 Year Xeros Technology Chart |
1 Month Xeros Technology Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions