Xeros Technology Group plc Director/PDMR Shareholding and Issue of Options (1735H)
02 December 2020 - 2:46AM
UK Regulatory
TIDMXSG
RNS Number : 1735H
Xeros Technology Group plc
01 December 2020
1 December 2020
Xeros Technology Group plc ("Company" or "Xeros")
Director/PDMR Transactions, Issue of Options
The Remuneration Committee of Xeros has today granted Mark
Nichols, Chief Executive Officer, 22,000 options over ordinary
shares under the terms of the Company's 2020 EMI Share Option
Scheme at a price of 70p per share. These options will be
exercisable in tranches of one-third each at the end of each of
2020, 2021 and 2022, subject to the market price of Xeros ordinary
shares reaching, in each respective year (for at least 30
consecutive days) 133p, 267p and 400p. The options have been
granted by the Company's Remuneration Committee in exchange for a
salary reduction of GBP15,400 p.a. with effect from the 1(st)
January 2020.
In addition Mark Nichols has today exercised 482 Deferred Annual
Bonus (DAB) scheme options held by him under the 2016 and 2017
Deferred Annual Bonus Plan ('DAB' Plan). Following this Mr Nichols'
holding of Ordinary Shares amounts to 87,482, representing 0.4% per
cent. of the issued share capital.
Enquiries :
Xeros Technology Group plc Tel: 0114 321
Mark Nichols, Chief Executive Officer 6328
Paul Denney, Chief Financial Officer
finnCap Limited (Nominated Adviser, Broker) Tel: 020 7220
Julian Blunt / Teddy Whiley, Corporate Finance 0570
Andrew Burdis, ECM
--------------
Notes to Editors
Xeros Technology Group plc has developed and licenses two
platform technologies which transform the sustainability,
performance and economics in the manufacturing and laundering of
garments and fabrics.
Xeros' patented XOrbs(TM) which are used in conjunction with the
company's XDrum(TM) technology significantly reduce the amount of
water used in the dyeing, finishing or laundering of garments and
fabrics. They enable the remaining water to become far more
efficient and effective in either affixing or removing molecules,
the result being improvements in economic, operational, product and
sustainability outcomes. The Group is applying its technology in
the fields of garment manufacturing, commercial and domestic
laundry and tanning with its laundry applications increasing
garment care and life.
Xeros' XDrum(TM) technology is a patented, low cost machine drum
design which enables XOrbs to be introduced into and subsequently
removed from process cycles in Xeros' chosen fields. The design
provides Original Equipment Manufacturers with the ability to make
simple changes to their products to incorporate the Company's XOrb
technology.
The Group has signed multiple license agreements for its XDrum
and XOrb products with leading OEMs in major commercial and
domestic markets.
XFiltra(TM) is a proprietary in-machine filtration technology
which prevents harmful microfibres including microplastics,
generated during washing cycles, from being released into the
world's river and oceans. Microplastics released from synthetic
clothing during laundering is one of the largest sources of primary
microplastic pollution entering our oceans every year.
For more information, please visit -
http://www.xerostech.com/
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr Mark Nichols
-------------------------- ------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------------- ------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ------------------------------------------
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 Options over Ordinary shares of 15p
financial instrument, each under terms of the Xeros Technology
type of instrument Group plc 2020 Share Option Scheme
Identification code n/a
-------------------------- ------------------------------------------
b) Nature of the transaction Grant of share options
-------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
n/a 22,000
------------
-------------------------- ------------------------------------------
d) Aggregated information
- Aggregated volume 22,000
- Price n/a
-------------------------- ------------------------------------------
e) Date of the transaction 1 December 2020
-------------------------- ------------------------------------------
f) Place of the transaction Sheffield
-------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr Mark Nichols
--------------------------- ----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------- ----------------------------------------------
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 Xeros Technology Group Plc DAB Scheme
financial instrument, Options
type of instrument
Identification code
n/a
--------------------------- ----------------------------------------------
b) Nature of the transaction Exercise of Deferred Annual Bonus
Plan options
--------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
15p per DAB option 482
----------
--------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 482
- Price 15p
-------------------------------- ----------------------------------------------
e) Date of the transaction 1 December 2020
--------------------------- ----------------------------------------------
f) Place of the transaction Sheffield
--------------------------- ----------------------------------------------
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END
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