XSG.L

Xeros Technology Group Plc
Xeros Tech Grp plc - Grant of Options
3rd July 2024, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 8528U
Xeros Technology Group plc
03 July 2024
 

3 July 2024

Xeros Technology Group plc

 

('Xeros", the "Company" or the "Group")

 

Grant of Options

 

 

Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, announces that on 1 July 2024, the Board, following the recommendation from the Remuneration Committee, granted new share options (the "Options") over ordinary shares of 0.1 pence each ("Ordinary Shares") to Neil Austin, Chief Executive Officer, and Alexander Tristram, Finance Director, under the terms of the Xeros Technology Group plc 2020 Share Option Scheme.

 

Following this grant of Options, the Company has options in issue over 36,354,541 Ordinary Shares, representing approximately 7.0 per cent. of the Company's total issued share capital.

 

Director

Number of Options granted on 1 July 2024

Exercise Price

Total options held post issue

Neil Austin

11,091,189

1.5p

15,620,592

Alexander Tristram

3,905,148

1.5p

3,961,638

 

9,522,533 options issued to Neil Austin are granted as unapproved share options and 1,568,656 are granted as EMI options. Those options granted to Alexander Tristram are granted as EMI share options.

 

These Options are exercisable at a price of 1.5 pence in tranches of one third from the beginning of each of 2025, 2026 and 2027. The exercise price is fixed by reference to the price at which the Company's recent fundraising, announced on 4 April 2024, was concluded.

 

Enquiries

 

Xeros Technology Group plc

Neil Austin, Chief Executive Officer

Alex Tristram, Director of Finance

 

Tel: 0114 269 9656

Cavendish Capital Markets Limited (Nominated Adviser and Broker)

Julian Blunt/Teddy Whiley, Corporate Finance

Andrew Burdis/Sunila de Silva, ECM

 

Tel: 020 7220 0570

Belvedere Communications

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.

 

 

Further details of the PDMR dealing are included below. This information has been provided in accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

Mr Neil Austin

2

 

Reason for the notification

 

a)

 

Position/status

Chief Executive Officer

b)

 

Initial notification /Amendment 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

Xeros Technology Group Plc

b)

 

LEI

2138009F3U39GVY7DG06

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 Identification code

Ordinary shares of £0.001 each

 

GB00BMGYBJ57

b)

 

Nature of the transaction

Grant of Options 

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

1.5 pence

11,091,189

 

 

d)

 

Aggregated information

 - Aggregated volume

 - Price

 

 

n/a

e)

 

Date of the transaction

1st July 2024

f)

 

Place of the transaction

Outside a trading venue

 

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

Mr Alexander Tristram

2

 

Reason for the notification

 

a)

 

Position/status

Finance Director

b)

 

Initial notification /Amendment

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

Xeros Technology Group Plc

b)

 

LEI

2138009F3U39GVY7DG06

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 Identification code 

Options over Ordinary shares of £0.001 each

 

GB00BMGYBJ57

b)

 

Nature of the transaction

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

1.5 pence

3,905,148

  

d)

 

Aggregated information

 - Aggregated volume

- Price 

 

 

n/a

e)

 

Date of the transaction 

 

1st July 2024

f)

 

Place of the transaction 

Outside a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHFLFVSDSIFIIS]]>
TwitterFacebookLinkedIn