Result of Follow-on Subscription and TVR
Xeros Technology Group plc has successfully raised approximately £1.95 million through a follow-on subscription of 111,382,871 new ordinary shares at 1.75 pence per share, bringing the total funds raised in the fundraising to £5.95 million from 340,373,229 new ordinary shares. Following admission on December 1, 2025, the company will have 861,860,786 ordinary shares in issue, and shareholders will use this figure as the denominator for disclosure requirements. Certain directors participated in the fundraising, with their post-admission holdings detailed in the announcement.
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Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, is pleased to announce that further to the Company's announcement released on 6 November 2025 (the "Launch Announcement"), the Follow-On Subscription has closed and the Company has conditionally raised gross proceeds of approximately £1.95 million, through the successful Subscription of 111,382,871 New Ordinary Shares in aggregate at the Issue Price of 1.75 pence per Ordinary Share.
Total Funds raised as part of the Fundraising will therefore be £5.95 million, through the issuance of an aggregate of 340,373,229 new Ordinary Shares. The Placing, Subscriptions and Retail Offer are conditional upon, inter alia, the passing of the Resolutions at the General Meeting, Admission and upon the Placing Agreement becoming unconditional in all respects. It is expected that Admission will occur, and that dealings in the New Ordinary Shares will become effective on 1 December 2025.
As previously indicated in the Launch of Fundraising announcement, Klaas de Boer and David Armfield have participated in the Fundraising via the Retail Offer and Follow-On Subscription, respectively. Following Admission their residual holdings will be as follows:
| Current Holding of Existing Shares | % of Existing Ordinary Shares | Number of New Ordinary Shares | Holding post Admission | % of Enlarged Share Capital* | |
|---|---|---|---|---|---|
| Klaas de Boer | 11,383,333 | 2.18% | 1,428,571 | 12,811,904 | 1.49% |
| David Armfield | 2,892,857 | 0.55% | 1,142,856 | 4,035,713 | 0.47% |
Total Voting Rights
Following Admission on 1 December 2025, the Company will have in issue 861,860,786 Ordinary Shares, with no shares held in treasury. Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.
This announcement should be read in conjunction with the full text of the Circular issued on 7 November 2025. All capitalised/defined terms used in this announcement and not otherwise defined shall have the meanings given to them in the Circular.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.