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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
XL Tech. | LSE:XLT | London | Ordinary Share | COM STK USD 0.001 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0171K XL TechGroup, Inc. 17 December 2007 Press Release 17 December 2007 XL TechGroup, Inc. ("XL TechGroup" or "the Company") TyraTech receives Kraft Foods milestone payment XL TechGroup (AIM: XLT), the creator of companies that solve identified, global unmet market needs, is pleased to advise that XL TechGroup company, TyraTech Inc. (AIM: TYR) ("TyraTech"), the pioneer of safer, effective and natural pesticide products, has successfully completed its first stage of development with Kraft Foods ("Kraft", NYSE: KFT) and received its first milestone payment. The payment is part of an exclusive worldwide agreement announced last year with Kraft for the development of compounds used in functional foods and beverages intended to help prevent human parasitic infection in the developing world. The first stage of the project provided positive results on the preclinical efficacy of the TyraTech Natural anti-parasitic compounds in preventing the development of intestinal parasites. Following a robust testing protocol, the team demonstrated TyraTech's unique blend of natural ingredients proved effective in parasite prevention in a variety of conditions. Separately, initial market assessments of parasite prevalence, limitations of current treatments, consumer awareness and interest in the new solution, combined with demographic factors indicated strong market potential. Dr John Scott, CEO of XL TechGroup, said: "At the time of TyraTech's admission to AIM earlier this year, a number of specific objectives were targeted for completion by the end of 2007. We are delighted that they have all been delivered, that TyraTech is clearly executing to plan, and we look forward to further positive news over the coming months." - Ends - For further information: XL TechGroup Inc. John Scott / Harold Gubnitsky Tel: +1 321 409 7403 hgubnitsky@xltg.com Chris Munden, Director of Investor Relations Tel: +44 (0) 20 7398 7720 cmunden@xltg.com www.xltechgroup.com Nomura Code Securities Richard Potts, Corporate Finance Tel: +44 (0) 20 7776 1200 www.nomuracode.com XL TechGroup media enquiries: Abchurch Communications Heather Salmond / Gareth Mead Tel: +44 (0) 20 7398 7700 heather.salmond@abchurch-group.com www.abchurch-group.com NOTES TO EDITORS About XL TechGroup XL TechGroup is in the business of significant value creation. Working with major international corporate and technology partners such as AES, Procter & Gamble and leading universities, XL TechGroup first identifies global unmet market needs and then targets and exploits these by the systematic creation of successful, disruptive technology businesses. These new companies are built from scratch, and are then managed, developed and funded by XL TechGroup through to the point of a trade sale or a stock market listing. XL TechGroup's unique and proven methodology selects the best opportunities in order to create one-to-two new companies annually, where each company is expected to achieve a realisable valuation of at least US$400 million within four years from its creation. It is XL TechGroup's aim to deliver significant shareholder distributions at the final exit from each company. XL TechGroup's companies to date are: * PetroAlgae LLC (www.petroalgae.com) * TyraTech Inc. (AIM: TYR, www.tyratech.com) * DxTech LLC (www.dxtech.com) * QuoNova LLC (www.quonova.com) * AgCert International plc (LSE: AGC, www.agcert.com) XL TechGroup has also established GenXL LLC as a joint venture to capture the value of those prospects that do not fully meet XL TechGroup's US$400 million, four year criteria but still demonstrate considerable potential worth. Over and above XL TechGroup's core business model, GenXL has announced its first investments and is reviewing a flow of opportunities from both XL TechGroup and GEN3 in order to generate new companies, standalone product lines and technology licensing opportunities or an appropriate mix of these. For further information, see www.xltechgroup.com. About TyraTech, Inc. TyraTech is pioneering a new class of highly effective, non-toxic, pesticides and anti-parasitic compounds to address global agriculture, horticulture, functional foods, healthcare and veterinary markets. Using a revolutionary chemoreceptor screening process, TyraTech has identified proprietary blends of natural oils that stimulate the reactions and biological behaviour of insects and parasites so that they can be effectively repelled or killed. TyraTech's technology prevents the development of resistance and avoids the environmental concerns and human health risks of chemical solutions whilst still being at least, if not more, effective. The Company's products have been validated through strong partnerships with multinational conglomerates operating within a growing US$23 billion worldwide market that is being increasingly driven by environmental legislation and end-user demand. TyraTech continues to develop new product applications based on safe, natural ingredients with a broad range of partners around the world. For further information, see www.tyratech.com. This information is provided by RNS The company news service from the London Stock Exchange END MSCTABTTMMIBBTR
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