Xeros Technology Group plc Director/PDMR Shareholding and Issue of Options (1735H)

TIDMXSG

RNS Number : 1735H

Xeros Technology Group plc

01 December 2020

1 December 2020

Xeros Technology Group plc ("Company" or "Xeros")

Director/PDMR Transactions, Issue of Options

The Remuneration Committee of Xeros has today granted Mark Nichols, Chief Executive Officer, 22,000 options over ordinary shares under the terms of the Company's 2020 EMI Share Option Scheme at a price of 70p per share. These options will be exercisable in tranches of one-third each at the end of each of 2020, 2021 and 2022, subject to the market price of Xeros ordinary shares reaching, in each respective year (for at least 30 consecutive days) 133p, 267p and 400p. The options have been granted by the Company's Remuneration Committee in exchange for a salary reduction of GBP15,400 p.a. with effect from the 1(st) January 2020.

In addition Mark Nichols has today exercised 482 Deferred Annual Bonus (DAB) scheme options held by him under the 2016 and 2017 Deferred Annual Bonus Plan ('DAB' Plan). Following this Mr Nichols' holding of Ordinary Shares amounts to 87,482, representing 0.4% per cent. of the issued share capital.

Enquiries :

 
  Xeros Technology Group plc                        Tel: [phone] 
    Mark Nichols, Chief Executive Officer             6328 
    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 has developed and licenses two platform technologies which transform the sustainability, performance and economics in the manufacturing and laundering of garments and fabrics.

Xeros' patented XOrbs(TM) which are used in conjunction with the company's XDrum(TM) technology significantly reduce the amount of water used in the dyeing, finishing or laundering of 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 garment manufacturing, commercial and domestic laundry and tanning with its laundry applications increasing garment care and life.

Xeros' XDrum(TM) technology is a patented, 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 with the ability to make simple changes to their products to incorporate the Company's XOrb technology.

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

XFiltra(TM) is a proprietary in-machine filtration technology which prevents harmful microfibres including 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 our oceans every year.

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

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                        Mr Mark Nichols 
     --------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ---------------------------------------------------------------------- 
 a)   Position/status             Chief Executive Officer 
     --------------------------  ------------------------------------------ 
 b)   Initial notification        Initial Notification 
       /Amendment 
     --------------------------  ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ---------------------------------------------------------------------- 
 a)   Name                        Xeros Technology Group Plc 
     --------------------------  ------------------------------------------ 
 b)   LEI                         2138009F3U39GVY7DG06 
     --------------------------  ------------------------------------------ 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ---------------------------------------------------------------------- 
 a)   Description of the          Options over Ordinary shares of 15p 
       financial instrument,       each under terms of the Xeros Technology 
       type of instrument          Group plc 2020 Share Option Scheme 
       Identification code         n/a 
     --------------------------  ------------------------------------------ 
 b)   Nature of the transaction   Grant of share options 
     --------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)        Price(s)          Volume(s) 
                                                n/a         22,000 
                                                      ------------ 
     --------------------------  ------------------------------------------ 
 d)   Aggregated information 
       - Aggregated volume          22,000 
       - Price                      n/a 
     --------------------------  ------------------------------------------ 
 e)   Date of the transaction     1 December 2020 
     --------------------------  ------------------------------------------ 
 f)   Place of the transaction    Sheffield 
     --------------------------  ------------------------------------------ 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                         Mr Mark Nichols 
      ---------------------------  ---------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------- 
 a)    Position/status              Chief Executive Officer 
      ---------------------------  ---------------------------------------------- 
 b)    Initial notification         Initial Notification 
        /Amendment 
      ---------------------------  ---------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------- 
 a)    Name                         Xeros Technology Group Plc 
      ---------------------------  ---------------------------------------------- 
 b)    LEI                          2138009F3U39GVY7DG06 
      ---------------------------  ---------------------------------------------- 
 4     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      --------------------------------------------------------------------------- 
 a)    Description of the           Xeros Technology Group Plc DAB Scheme 
        financial instrument,        Options 
        type of instrument 
        Identification code 
                                     n/a 
      ---------------------------  ---------------------------------------------- 
 b)    Nature of the transaction    Exercise of Deferred Annual Bonus 
                                     Plan options 
      ---------------------------  ---------------------------------------------- 
 c)    Price(s) and volume(s)         Price(s)                         Volume(s) 
                                                  15p per DAB option         482 
                                                                       ---------- 
      ---------------------------  ---------------------------------------------- 
 d)    Aggregated information 
    - Aggregated volume              482 
    - Price                           15p 
 --------------------------------  ---------------------------------------------- 
 e)    Date of the transaction      1 December 2020 
      ---------------------------  ---------------------------------------------- 
 f)    Place of the transaction     Sheffield 
      ---------------------------  ---------------------------------------------- 
 

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December 01, 2020 10:46 ET (15:46 GMT)