Xeros Technology Group plc Grant of Options

RNS Number : 8528U

Xeros Technology Group plc

03 July 2024

 

3 July 2024

Xeros Technology Group plc

 

('Xeros", the "Company" or the "Group")

 

Grant of Options

 

 

Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, announces that on 1 July 2024, the Board, following the recommendation from the Remuneration Committee, granted new share options (the "Options") over ordinary shares of 0.1 pence each ("Ordinary Shares") to Neil Austin, Chief Executive Officer, and Alexander Tristram, Finance Director, under the terms of the Xeros Technology Group plc 2020 Share Option Scheme.

 

Following this grant of Options, the Company has options in issue over 36,354,541 Ordinary Shares, representing approximately 7.0 per cent. of the Company's total issued share capital.

 

Director	Number of Options granted on 1 July 2024	Exercise Price	Total options held post issue
Neil Austin	11,091,189	1.5p	15,620,592
Alexander Tristram	3,905,148	1.5p	3,961,638

 

9,522,533 options issued to Neil Austin are granted as unapproved share options and 1,568,656 are granted as EMI options. Those options granted to Alexander Tristram are granted as EMI share options.

 

These Options are exercisable at a price of 1.5 pence in tranches of one third from the beginning of each of 2025, 2026 and 2027. The exercise price is fixed by reference to the price at which the Company's recent fundraising, announced on 4 April 2024, was concluded.

 

Enquiries

 

Xeros Technology Group plc Neil Austin, Chief Executive Officer Alex Tristram, Director of Finance	Tel: [phone]
Cavendish Capital Markets Limited (Nominated Adviser and Broker) Julian Blunt/Teddy Whiley, Corporate Finance Andrew Burdis/Sunila de Silva, ECM		Tel: [phone]
Belvedere Communications Cat Valentine Keeley Clarke	[e-mail] Mob: [phone] Mob: [phone]

 

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 £350m p.a., £132m p.a. and £3bn p.a. respectively.

 

 

Further details of the PDMR dealing are included below. This information has been provided in accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

 

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mr Neil Austin
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial Notification
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 financial instrument, type of instrument  Identification code	Ordinary shares of £0.001 each   GB00BMGYBJ57
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s)   Volume(s) 1.5 pence 11,091,189
d)	Aggregated information  - Aggregated volume  - Price	n/a
e)	Date of the transaction	1st July 2024
f)	Place of the transaction	Outside a trading venue

 

 

 

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mr Alexander Tristram
2	Reason for the notification
a)	Position/status	Finance Director
b)	Initial notification /Amendment	Initial Notification
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 financial instrument, type of instrument  Identification code	Options over Ordinary shares of £0.001 each   GB00BMGYBJ57
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s)   Volume(s) 1.5 pence 3,905,148
d)	Aggregated information  - Aggregated volume - Price	n/a
e)	Date of the transaction	1st July 2024
f)	Place of the transaction	Outside a trading venue

 

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