Not for release or distribution or publication in whole or part in or into the United States, Canada, Japan or Australia
Publication of AIM Admission Document and Pricing
Placing to raise £23 million, valuing XL TechGroup at £72.6 million
07 October 2004
XL TechGroup, Inc. (“XL TechGroup” or the “Company”) today announces that it has published its admission document in relation to the proposed admission to trading on AIM of the Company's shares of common stock (“Common Shares”) and the associated placing of shares with institutional investors (the “Placing”).
The Placing comprises a total of 15,333,333 Common Shares at a placing price of 150 pence per share. The Placing will raise approximately £22.6 million (before expenses) for the Company, valuing the Company at approximately £72.6 million.
Dealings in XL TechGroup's shares on AIM are expected to commence on 12 October 2004 under the ticker symbol “XLT”.
XL TechGroup, Inc. is a unique company creation and development business focused on identifying unmet market needs, matching dynamic new technology solutions, and building successful businesses that transform markets, primarily in the life sciences and technology sectors. Its most advanced businesses are AgCert International, LLC, a company involved in the creation of carbon emission credits from agriculture, and TyraTech, LLC, which is developing a new class of non-toxic pesticides made from safe, natural oils. Through the creation, development and scaling-up of a number of such businesses, XL TechGroup aims to generate multiple returns for its investors from a single investment. XL TechGroup is head-quartered in the USA.
Commenting on the Placing, Dr. John Scott, CEO of XL TechGroup, said:
“We are really pleased with the level of support we have received from investors over the last fortnight, which has enabled us to raise funds at the top end or our expectations from institutions of the highest quality. This is testament to our unique business model, successful track record and XL TechGroup's exciting growth potential. The funds raised will place us in a strong position to establish and develop more new companies for our pipeline.”
The Placing is being arranged by Code Securities Limited which is acting as financial adviser and joint broker to the Company. Altium Capital Limited is acting as underwriter, nominated adviser and broker to the Company.
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Financial Dynamics (UK)
The directors of XL TechGroup Inc. accept responsibility for the information contained in this announcement. The contents of this announcement have been approved by Code Securities Limited solely for the purposes of section 21 of the Financial Services and Markets Act 2000.
Code Securities Limited and Altium Capital Limited, which are regulated in the United Kingdom by The Financial Services Authority, are acting exclusively for XL TechGroup Inc. in relation to the Placing. Neither Altium Capital Limited nor Code Securities Limited is acting for, nor will it be responsible to, any person other than XL TechGroup Inc. for providing the protections afforded to its own customers or for advising any other person in relation to the Placing.
This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any Common Shares, in particular (but without limitation), in or into the United States, Canada, Australia or Japan. The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or under the securities legislation of any state of the United States. The relevant clearances have not been, and will not be, obtained from the Securities Commission of any province or territory of Canada, no document in relation to the Placing has been, or will be, lodged with, or registered by, The Australian Securities and Investments Commission, and no registration statement has been, or will be, filed with the Japanese Ministry of Finance in relation to the Placing or the Common Shares. Accordingly, subject to certain exceptions, the Common Shares may not, directly or indirectly, be offered or sold within the United States, Canada, Australia or Japan or offered or sold to a person within the United States or a resident of Canada, Australia or Japan.
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