Response To Share Price Movement

RNS Number : 3876F

Xeros Technology Group plc

11 November 2015

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN

11 November 2015

Response to Share Price Movement

Xeros Technology Group plc

In response to today's share price movement, Xeros Technology Group plc ("Xeros") announces it is in the late stages of discussions with certain of its shareholders and other investors to raise up to £40m by way of a placing of new ordinary shares at 225 pence per share.

The proceeds of the placing will be used to build on Xeros' progress in its commercial laundry business and to capitalise on opportunities for its polymer bead innovation in other applications, including in the leather processing and domestic laundry markets.

The non pre-emptive placing will be subject to shareholder approval and will be dilutive to shareholders who do not participate in the placing pro-rata to their existing shareholding.

Further announcements regarding the intended placing and Xeros' results for the year ended 31 July 2015 will be made as soon as possible.

Contacts:

Jefferies International Limited (Nomad and broker)                                       Tel: [phone]

Simon Hardy / Harry Nicholas / Lee Morton

Instinctif Partners (Financial PR)                                                                               Tel: [phone]

Adrian Duffield / Helen Tarbet / James Gray

Important Notice

This announcement has been issued by, and is the sole responsibility of, the Company.  This announcement is for information only and does not constitute an offer or invitation to underwrite, subscribe for or otherwise acquire or dispose of any securities or investment advice in any jurisdiction in which such an offer or solicitation is unlawful, including without limitation, the United States, Australia, Canada, the Republic of South Africa or Japan.

Jefferies which is authorised and regulated in the United Kingdom by the FCA, is acting for the Company and for no-one else in relation to the matters contained in this announcement, and will not be responsible to any other person for providing the protections afforded to its clients nor for providing advice in connection with the matters contained in this announcement.  No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Jefferies, or by any of its affiliates or agents, as to or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

 

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