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LONDON - Xeros Technology Group plc (AIM:XSG), known for its eco-friendly clothing care technologies, has announced a block listing application for 5 million ordinary shares. The shares, each with a nominal value of 0.1 pence, are expected to be admitted to the London Stock Exchange (LON:LSEG) around June 6, 2025.
This block listing includes 3.75 million shares allocated for the Xeros Technology Group plc Enterprise Management Incentive Scheme and 1.25 million shares for the unapproved share option scheme. The admission of these shares will allow the company to award shares in line with its option plans.
Once issued, these ordinary shares will rank equally with the existing ordinary shares in issue. The correction issued today clarified the nominal value of the shares, which was previously misstated.
Xeros Technology Group has been at the forefront of developing patented technologies aimed at reducing the environmental footprint of the clothing industry. The company’s innovative solutions focus on minimizing water, energy, and chemical use in both industrial and domestic laundry settings, as well as garment manufacturing. This approach not only conserves resources but also addresses the issue of microplastic pollution, with washing machines being a significant contributor to oceanic microplastic particles.
The company generates revenue through licensing its technologies, collecting royalties, and selling consumables. With eight licensing agreements currently in place, Xeros targets markets in microfiber filtering, laundry care, and garment finishing, estimated at £350 million, £3 billion, and £132 million per annum, respectively.
This move comes as various stakeholders, including consumers, media, NGOs, and regulators, increasingly pressure industries to adopt more sustainable practices. Legislative actions are also being introduced to support this shift towards environmentally conscious operations.
The information regarding Xeros Technology Group’s block listing is based on a press release statement.
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