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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.
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