Xeros Technology Group plc Change of Auditor (6619M)
September 18 2023 - 1:00AM
UK Regulatory
TIDMXSG
RNS Number : 6619M
Xeros Technology Group plc
18 September 2023
18 September 2023
Xeros Technology Group plc
('Xeros' or the 'Company' or the 'Group')
Change of Auditor
Xeros Technology Group plc (AIM: XSG), the creator of
technologies that reduce the impact of clothing on the planet,
announces that following a competitive tender process led by the
Audit Committee and the Board, it has approved the appointment of
Crowe UK LLP ("Crowe") as the Company's Auditor with immediate
effect. Crowe's re-appointment as auditor for the subsequent
financial year will be formally proposed to shareholders at the
Company's next Annual General Meeting in 2024.
Grant Thornton UK LLP ("Grant Thornton") has been the Auditor
for Xeros Technology Group plc since 2019 and the Company's Board
of Directors extends its appreciation to Grant Thornton for their
services. Grant Thorton has resigned as the Company's Auditor and
has confirmed to the Company that there are no matters connected
with ceasing to hold office that need to be brought to the
attention of the members or creditors of the Company for the
purposes of section 519 of the Companies Act 2006.
Enquiries:
Xeros Technology Group plc Tel: 0114 269 9656
Neil Austin, Chief Executive Officer
Alex Tristram, Director of Finance
Cavendish Capital Markets Limited (Nominated Tel: 020 7220 0570
Adviser and Broker)
Julian Blunt/Teddy Whiley, Corporate Finance
Andrew Burdis/Sunila de Silva, ECM
Belvedere PR xeros@belvederepr.com
Cat Valentine Mob: 07715 769
Keeley Clarke 078
Mob 07967 816 525
About Xeros
Xeros Technology plc has developed patented and proven,
industry-leading technologies which reduce the environmental impact
of how industries make and care for clothes.
In industrial and domestic laundry and garment manufacturing,
traditional wet processing methods use billions of litres of fresh
water, large amounts of energy and chemicals, damage and weaken
fibres, and create environmental pollution. It is estimated that
washing machines contribute 35% of the 171 trillion microplastic
particles in the ocean.
A range of actors, including consumers, the media NGOs and
regulators are exerting pressure on these industries, with
legislative action beginning to be taken.
Xeros' three main technologies, Filtration, Finish, and Care,
facilitate garment manufacturers, industrial laundries, domestic
washing machine manufacturers and consumers to reduce their
environmental impact, whilst also significantly improving
efficiency in the process.
Xeros' model is to generate revenues from licence fees and
royalties. Currently, the are 8 agreements in place. The
addressable markets in Filtration, Finish and Care are estimated to
be GBP3bn, GBP2bn and GBP2bn respectively.
xerostech.com
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September 18, 2023 02:00 ET (06:00 GMT)
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