Result of General Meeting and Total Voting Rights

RNS Number : 4969T

Xeros Technology Group plc

25 March 2021

 

THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

25 March 2021

Xeros Technology Group plc

Results of General Meeting & Total Voting Rights

Xeros Technology Group plc (AIM: XSG, 'the Company', 'Xeros'), the developer and licensor of technologies which reduce the environmental impact and cost of clothing and fabrics, is pleased to announce that further to the Company's announcement of 5 March 2021, at the General Meeting held earlier today the Resolutions proposed were duly passed by shareholders on a poll.

Full details of the Resolutions were set out in the Circular published by Xeros on 8 March 2021. The Circular is available for inspection in electronic form on the Company's website, www.xerostech.com (subject to limitations).

Details of the proxies from Shareholders in respect of each of the Resolutions are set out below:

Resolution	For Number	%	Against Number	%	Withheld Number
1. Authority to allot Relevant Securities	10,066,063	99.996%	440	0.004%	794
2. Authority to dis-apply statutory pre-emption rights	10,065,696	99.992%	807	0.008%	794

Notes:

1. Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld).

2. A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" a Resolution.

3. Any proxy appointments which gave discretion to the Chairman have been included in the "For" totals.

The Placing remains conditional upon the Placing Agreement becoming unconditional in all respects and upon Admission. Admission of the New Ordinary Shares is expected to occur on 26 March 2021.

Total Voting Rights

Following Admission, the Company will have in issue 23,746,058 Ordinary Shares, with no shares held in treasury. Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

This announcement should be read in conjunction with the full text of the Circular issued on 8 March 2021. All capitalised/defined terms used in this announcement and not otherwise defined shall have the meanings given to them in the Circular.

Enquiries :

Xeros Technology Group plc Mark Nichols, CEO Paul Denney, CFO www.xerostech.com	Tel: [phone]
finnCap Julian Blunt, Teddy Whiley (Corporate Finance) Andrew Burdis, Sunila de Silva (ECM) www.finncap.com	[phone]

Notes to Editors

Xeros Technology Group plc has developed and licenses two platform technologies which transform 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 and chemistry used in the dyeing, finishing or laundering of garments and fabrics. They increase the efficiency of these processes which require molecules to be either affixed or removed from substrates. In the case of laundry, they are proven to significantly increase the life of clothes and fabrics.  The results being major improvements in economic, operational, product and environmental outcomes.

Xeros' XDrum technology is a low-cost machine drum design which enables XOrbs to be introduced into and subsequently removed from process cycles. 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 technologies with leading OEMs in major commercial and domestic markets.

XFiltra™ is the Company's proprietary  washing machine filtration technology which prevents harmful microfibres including microplastics, generated during washing cycles, from being released into the world's rivers and oceans.  Microfibres released into the environment from clothing and fabrics during their laundering, being a major source of pollution in the environment and contamination in the food chain.

finnCap, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority ("FCA"), are acting exclusively for the Company and for no‐one else in relation to the Placing, and will not be responsible to any other person for providing the protections afforded to their respective 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 finnCap nor by any of their respective affiliates, partners or agents (or any of their respective directors, officers, employees or advisers), as to or in relation to, the contents, 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, or any other statement made or purported to be made by or on behalf of finnCap or any of their respective affiliates in connection with the Company or the Placing, and any liability therefor is expressly disclaimed.

FinnCap and each of their respective affiliates accordingly disclaim all and any liability, whether arising in tort, contract or otherwise (save as referred to above) in respect of any statements or other information contained in this announcement.

This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the Placing Shares. Any investment decision to buy Placing Shares in the Placing must be made solely on the basis of publicly available information, which has not been independently verified by finnCap.

 

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