ISSUE OF SHARES

RNS Number : 8251H

Xeros Technology Group plc

22 May 2014

 



22 May 2014

Xeros Technology Group plc

("Xeros" or the "Company")

ISSUE OF SHARES

The Company has issued and allotted 100,000 new ordinary shares pursuant to the exercise of options at an exercise price of 10.8 pence per ordinary share.

Accordingly, application has been made for the 100,000 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 28 May 2014.

The new ordinary shares will rank pari passu with the existing shares of the Company.

Following Admission, the Company's enlarged issued share capital will comprise 65,173,549 ordinary shares with one voting right per share. No shares are held in Treasury. The total number of voting rights in the Company is therefore 65,173,549.

This figure of 65,173,549 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

Xeros Technology Group plc	Via Newgate
Bill Westwater, Chief Executive Officer Chris Hanson, Finance Director
Jefferies International (Nominated Adviser)	Tel: [phone]
Simon Hardy Harry Nicholas
Newgate Communications (Financial PR)	Tel: [phone]
James Benjamin Madeleine Palmstierna Georgia Lewis	[e-mail]

Further information on the Group can be found on the Company's website: www.xeroscleaning.com 

About Xeros

Xeros has developed a patented polymer bead cleaning system with multiple identified potential commercial applications. The Group has targeted the commercial laundry market and has begun the roll-out of 25kg capacity washing machines which exclusively use Xeros' patented polymer bead cleaning system. In trials with customers, this system has been shown to achieve superior cleaning performance as well as material reductions in water, energy and chemical usages compared to conventional commercial laundry methods. The Xeros proprietary polymer bead cleaning system also reduces the carbon footprint of the entire laundry process. In addition to the commercial laundry market, the Group's polymer bead technology has a range of potential applications in other industries including domestic laundry, leather processing, garment finishing and metal cleaning. The Group is currently in various stages of development and preparation for commercialisation of other identified applications, the most advanced of which is domestic laundry.

On 30 April 2014, the Group won Bronze at the prestigious Edison Awards 2014 in San Francisco in the Energy/Sustainability category for its virtually waterless commercial laundry system and, on the same evening, the Group was named University Spin-Out of the Year at the New Energy & Cleantech Awards 2014 in London.

 

END

 

 

MSCSEWFFEFLSESI