XEROS TECHNOLOGY GROUP PLC

Board/Management Information • Feb 12, 2019

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RNS Number : 6939P

Xeros Technology Group plc

12 February 2019

12 February 2019

Xeros Technology Group plc

Directorate changes

Xeros Technology Group plc (AIM: XSG, 'Xeros', 'the Group'), the developer and provider of water saving technologies with multiple commercial applications, today announces that John Samuel has resigned as non-executive Chairman with immediate effect. David Armfield, who joined the Board in June 2018, has been appointed interim non-executive Chairman.

Separately David Baynes, a director of IP Group plc, joins the Board as a non-executive director today. He is a Chartered Accountant and will Chair the Audit Committee.

David Graham Baynes, aged 55, is currently Chief Operating Officer at IP Group plc and has been on its Board since March 2014. He was previously a co-founder and the CEO of AIM-listed Fusion IP plc and was also a co-founder, CEO and CFO of Toad plc (now 21st Century Technology plc). David also worked at Celsis International plc from its incorporation to its flotation on the full list of the London Stock Exchange and was previously CFO of Codemasters Limited, at the time, the UK's largest privately-owned games company.

David Armfield, interim non-executive Chairman, commented:

"On behalf of the Board, I would like to thank John for his considerable contribution as Chairman since the business listed in March 2014. It has progressed from early stage technology development to its current position of having multiple proprietary applications in the process of commercialisation. As he steps down in order to devote more time to his other executive and non-executive Board roles - we wish him well for the future. I would also like to welcome David to the Board who brings with him a huge amount of experience in growth companies, both private and public."

Enquiries:

Xeros Technology Group plc David Armfield, interim non-executive Chairman	Tel: 0114 321 6328
Jefferies International Limited (Nominated Adviser and Joint Broker) Simon Hardy / Will Soutar	Tel: 020 7029 8000
Berenberg (Joint Broker) Chris Bowman / Ben Wright / Laure Fine	Tel: 020 3207 7800
Instinctif Partners Adrian Duffield / Kay Larsen / Chantal Woolcock	Tel: 020 7457 2020

AIM Rules for Companies Schedule 2 (g) information

David Baynes, holds or has held the following directorships in the five years preceding his appointment to the Xeros Technology Group Plc Board.

Current directorships:
Director, IPG USA (LP) Limited	November 2018 - Present
Director, Imperial Innovations Limited Director, Touchstone Innovations Investments Limited	February 2018 - Present February 2018 - Present
Director, Imperial College Company Maker Limited	February 2018 - Present
Director, Innovations Limited Partner Ltd	February 2018 - Present
Director, Touchstone Innovations Plc	December 2017 - Present
Director, IP2IPO Asia-Pacific Limited	February 2017 - Present
Director, IP2IPO US Partners Limited	December 2016 - Present
Director, IP2IPO Americas Limited	November 2016 - Present
Director, IP2IPO Carry Partner Limited	September 2016 - Present
Director, IP2IPO Portfolio (GP) Limited	September 2016 - Present
Director, Top Technology Ventures Limited	August 2015 - Present
Finance Director, IP2IPO FI Limited	September 2014 - Present
Director, Intelligent Ultrasound Group Plc	August 2014 - Present
Finance Director, IP2IPO Limited	April 2014 - Present
Finance Director, North East Technology (GP) Limited	April 2014 - Present
Finance Director, IP Venture Fund (GP) Limited	April 2014 - Present
Director, IP Group Plc	March 2014 - Present
Director, MedaPhor Limited	June 2010 - Present
Director, Morvus	September 2010 - Present
Director, Demasq Limited	April 2008 - Present
Director, Phase Focus Limited	June 2006 - Present
Director, Fusion IP Nottingham Limited	March 2008 - Present
Director, Fusion IP Two Limited	March 2008 - Present
Director, Fusion IP Cardiff Limited	November 2006 - Present
Finance Director, Biofusion Licensing (Sheffield) Limited	September 2006 - Present
Director, Fusion IP Limited	November 2004 - Present
Director, Out Of The Blue Consulting Limited	March 2003 - Present
Director, Fusion IP Sheffield Limited	January 2003 - Present
Previous directorships, last 5 years:
Director, Arthurian Life Sciences Limited	July 2013 - July 2015
Director, Rhedyn Limited	March 2013 - March 2016
Director, Wound Genetics Limited	November 2012 - September 2016
Director, Proflu Limited	November 2012 - July 2016
Director, Wound Genetics Therapeutics Limited	November 2012 - September 2016
Director, Wound Genetics Prognostics Limited	November 2012 - September 2016
Director, Rheometrix Microsystems Limited	April 2012 - September 2016
Director, Perlemax Limited	January 2012 - September 2014
Director, Medipex Limited	April 2011 - September 2014
Director, Mesuro Limited	September 2008 - September 2014
Director, Magnomatics Ltd	June 2008 - November 2014
Director, Biohydrogen Limited	March 2007 - September 2016
Director, Alesi Surgical Limited	March 2007 - January 2017
Director, Medella Therapeutics Limited	February 2007 - June 2014
CEO, Mantelum Limited	June 2006 - September 2016
Director, Diurnal Limited	October 2005 - October 2014

David Baynes was a Director of CellTran Limited, which developed a skin treatment for burns and chronic wounds using a patient's living cells but went into administration in May 2008 after running out of funds for product development and distribution.

There are no further disclosures to be made under Schedule 2(g) of the AIM Rules for Companies.

Notes to Editors

Xeros Technology Group plc (LN: XSG) is a platform technology company that is reinventing water intensive industrial and commercial processes.

Xeros' uses its patented XOrbTM technologies to significantly reduce the amount of water used in a number of major applications with the remaining water becoming far more efficient in either affixing or removing molecules from substrates such as fabrics and garments. The result being significant improvements in economic, operational and sustainability outcomes.

Xeros has three divisions working in the garment finishing (Textile Technologies), tanning (Tanning Technologies, branded Qualus) and cleaning/laundry (Cleaning Technologies) markets. In cleaning/laundry, the company has three applications covering domestic laundry, commercial laundry (branded "Hydrofinity") and the cleaning of high-performance workwear (branded "Marken").

For more information, please visit - http://www.xerostech.com/

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