Exercise of Warrants, Issue of Equity and TVR
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Successful warrant process raises c.£1.68 million additional cash for the Company
Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, announces that further to the amendments to the terms of the warrants to subscribe for ordinary share of 0.1 pence each (respectively "Warrants" and "Ordinary Shares") as approved by warrant holders on 21 December 2023, the Company has issued 44,961,489 new Ordinary Shares following receipt of valid notices of exercise at the amended Warrant exercise price of 2.85 pence per Ordinary Shares. 16,065,575 of these new Ordinary Shares will be admitted to trading on AIM by way of the Company's existing block admission arrangements, and separate application for the remaining 28,895,914 Ordinary Shares has been made by the Company, with admission to trading on AIM expected to occur on 7 February 2024 ("Admission").
Warrants Now Expired
The final exercise date for the Warrants was 31 January 2024 at 5.00 pm. In aggregate, the Company received valid exercise notices in respect of 58,916,729 Warrants in total, raising c.£1.68 million during the exercise period. The remaining 68,078,911* Warrants have now expired.
Total Voting Rights
Following Admission, the Company's issued share capital will consist of 209,896,852 Ordinary Shares with voting rights, with no shares held in treasury. This figure may therefore be used by shareholders as the 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 Company's share capital pursuant to (i) the Company's Articles, (ii) the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.
*200,000 Warrants were unable to be issued following the Fundraise in September 2022 due to the necessary registration details not being provided to the Company.
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