Director/PDMR Transactions, Issue of Options

RNS Number : 9018M

Xeros Technology Group plc

26 January 2021

 

26 January 2021

Xeros Technology Group plc

Director/PDMR Transactions, Issue of Options

The Remuneration Committee has today granted the following new options over Ordinary Shares to Mark Nichols and Paul Denney under the terms of the Xeros Technology Group plc 2020 Share Option Scheme:

	Options over Ordinary Shares
Mark Nichols	109,703
Paul Denney	81,770

10,657 of the options granted to Mark Nichols are awarded as EMI options with the balance of 99,046 options being granted as Unapproved share options. 65,614 of the options awarded to Paul Denney are EMI options with the balance of 16,156 options being granted as Unapproved share options.

These new options will be exercisable at a price of 175p in tranches of one third each from the beginning of each of 2022, 2023 and 2024, subject to the market price of Ordinary shares reaching, in each respective year (for at least 30 consecutive days) 275p, 375p and 475p.  The exercise price and target market prices shown above are fixed by reference to the Xeros share price on January 1, 2021, reflecting the position at the end of the financial period to which the option awards pertain.

  Enquiries : 

Xeros Technology Group plc Mark Nichols, Chief Executive Officer Paul Denney, Chief Financial Officer	Tel: [phone]
finnCap Limited (Nominated Advisor & Broker) Julian Blunt / Teddy Whiley, Corporate Finance Andrew Burdis / Sunila de Silva	Tel: [phone]

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™ which are used in conjunction with the company's XDrum™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™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™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 /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 £0.15 each under terms of the Xeros Technology Group plc 2020 Share Option Scheme n/a
b)	Nature of the transaction	Grant of options.
c)	Price(s) and volume(s)	Price(s) Volume(s) n/a 109,703
d)	Aggregated information  - Aggregated volume  - Price	As in c) above n/a
e)	Date of the transaction	26 January 2021
f)	Place of the transaction	Sheffield

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mr Paul Denney
2	Reason for the notification
a)	Position/status	Chief Financial 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	Options over Ordinary shares of £0.15 each under terms of the Xeros Technology Group plc 2020 Share Option Scheme n/a
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) n/a 81,770
d)	Aggregated information  - Aggregated volume - Price	As in c) above n/a
e)	Date of the transaction	26 January 2021
f)	Place of the transaction	Sheffield

 

END

 

 

DSHDKABBCBKKKDB