Xeros Technology Group
plc
("Xeros",
the "Group" or the "Company")
Posting of Circular and Notice of
General Meeting
Xeros Technology Group plc (AIM:
XSG), the creator of technologies that reduce the impact of
clothing on the planet, is pleased to confirm that, further to the
announcement of 4 April 2024, the shareholder circular (the
"Circular") providing further details of the Placing, Subscription
and Retail Offer and convening the General Meeting, together with a
Form of Proxy, has been posted to Shareholders today.
As noted, the Circular contains the
notice of the General Meeting to be held at the Company's offices
at Unit 2 Evolution Advanced Manufacturing Park, Whittle Way,
Catcliffe, Rotherham S60 5BL, United Kingdom at 11:00 a.m. on 25
April 2024 (the "General Meeting").
A copy of the Circular will also
shortly be available from the Company's website
(https://www.xerostech.com/investor).
Capitalised terms not otherwise defined in the text of this
announcement have the meanings given to them in the Company's
announcement dated 4 April 2024.
Enquiries:
|
Xeros Technology Group plc
Neil Austin, Chief Executive
Officer
Alex Tristram, Finance
Director
|
Tel: 0114 269
9656
|
|
Cavendish Capital Markets Limited (Nominated Adviser &
Broker)
Julian Blunt / Teddy Whiley / George
Dollemore, Corporate Finance
Andrew Burdis / Sunila de Silva,
ECM
|
Tel: 020 7220
0570
|
|
Belvedere PR
Cat Valentine
Keeley Clarke
|
xeros@belvederepr.com
Mob: 07715 769
078
Mob: 07967 816
525
|
About Xeros
Xeros Technology plc has developed
patented and proven, industry-leading technologies which reduce the
environmental impact of how industries make and care for
clothes.
The traditional wet processing
methods used in industrial and domestic laundry and garment
manufacturing consume billions of litres of fresh water and large
amounts of energy and chemicals, as well as damaging and weakening
clothing fibres and creating rising levels of environmental
pollution. It is estimated that washing machines contribute 35% of
the 171 trillion microplastic particles in the ocean.
A range of actors, including
consumers, the media NGOs and regulators are exerting pressure on
these industries, with legislative action beginning to be
taken.
Xeros' three main technologies,
Filtration, Finish, and Care, facilitate garment manufacturers,
industrial laundries, domestic washing machine manufacturers and
consumers, to reduce their environmental impact, whilst also
significantly improving efficiency in the process.
Xeros' model is to generate revenue
from licensing its technologies, generating royalties and the sale
of consumables. Currently there are 8 agreements in place. The
addressable markets in Filtration, Finish and Care are estimated to
be valued at £350m p.a., £132m p.a. and £3bn p.a.
respectively.