Result of General Meeting

RNS Number : 4779G

Xeros Technology Group plc

25 November 2020

 

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 25 November 2020

Xeros Technology Group plc

Results of General Meeting

Xeros Technology Group plc (AIM: XSG, 'the Company', 'Xeros'), the developer and licensor of platform technologies which transform the sustainability and economics of clothing and fabrics during their lifetime, is pleased to announce that all of the Resolutions proposed at the General Meeting held in London today to approve the proposed Capital Reorganisation and other related matters were duly passed.

The Record Time for the Capital Reorganisation is 6 p.m. today, 25 November 2020, and Admission of the New Ordinary Shares following the Capital Reorganisation will occur at 8.00 a.m. on 26 November 2020. Following Admission, the total number of Ordinary Shares in issue will be 19,940,881, all with a nominal value of £0.15 each in the Company. The total number of voting rights will therefore be 19,940,881. This figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

As a result of the Capital Reorganisation, the Company's ISIN code will change, and from the date of Admission will be "GB00BMGYBJ57". The Company's SEDOL code will also change to "BMGYBJ5".

Full details of the Resolutions were set out in the Circular published by Xeros on 9 November 2020. 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 consolidate every 100 Ordinary Shares of £0.0015 each into one New Ordinary Share of £0.15 each in the capital of the Company	1,004,754,459	88.42%	131,640,430	11.58%	44,122
2. Authority, subject to the passing of Resolution 1, to amend the articles of association accordingly	939,389,592	87.71%	131,640,930	12.29%	65,408,489

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 Capital Reorganisation remains conditional upon Admission. This announcement should be read in conjunction with the full text of the Circular issued on 9 November 2020. 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, Chief Executive Officer   Paul Denney, Chief Financial Officer   www.xerostech.com	Tel: [phone]
finnCap Limited (Nominated Adviser & Broker)   Julian Blunt / Teddy Whiley, Corporate Finance   Andrew Burdis / Sunila de Silva, ECM   www.finncap.com	Tel: [phone]

Notes to Editors

Xeros Technology Group plc is a platform technology Group that is transforming water intensive industrial and commercial processes.

Xeros' patented XOrb^TM technology significantly reduces the amount of water used in the washing or dyeing of soft substrates such as 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 cleaning, tanning and textiles.

Xeros' XDrum^TM technology is a patented, simple, low cost machine drum design which enables XOrbs to be introduced into and subsequently removed from process cycles in Xeros' chosen markets. The design enables rotating drum machine Original Equipment Manufacturers ("OEMs") in the fields of garment manufacture and cleaning, the ability to make simple and low-cost changes in their production lines to incorporate the Company's XOrb technology.

The Group has signed multiple agreements to develop and license its XDrum and XOrb products in major commercial and domestic markets.

XFiltra^TM is a patented in-machine filtration technology which is designed to prevent harmful micro-plastics generated by washing cycles from being released into the aquacycle. Plastics released from synthetic clothing during washing cycles is one of the single largest sources of primary micro-plastic pollution.

For more information, please visit:  http://www.xerostech.com/

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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