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LONDON - Xeros Technology Group plc (AIM:XSG), known for its eco-friendly clothing care technologies, has applied for a block listing of 5 million ordinary shares on the London Stock Exchange (LON:LSEG). The application encompasses shares allocated for the company’s employee incentive schemes.
The block listing includes 3.75 million shares earmarked 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 is anticipated to be effective around June 6, 2025.
Once issued, these shares will be allotted in line with the awards from the group’s share option plans and will be equivalent in status to the existing ordinary shares.
Xeros has positioned itself as an innovator in the clothing industry, developing technologies that aim to minimize the environmental toll of clothing production and maintenance. The company’s patented technologies address the significant consumption of water, energy, and chemicals in industrial and domestic laundry processes, which also contribute to microplastic pollution in oceans.
The company generates revenue through licensing its technologies, with royalties and the sale of consumables as additional income streams. Currently, Xeros has eight licensing agreements in place.
The announcement is based on a press release statement and provides a factual account of Xeros Technology Group’s application for a block listing on the London Stock Exchange.
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