Transfer of shares
09 February 2007
XL TechGroup (AIM: XLT), the systematic architect and builder of an ongoing stream of high value new companies, advises that, in keeping with the terms of the previously announced financing deals with Laurus Master Fund Ltd (“Laurus”), a total of 1,517,979 shares in AgCert International plc (“AgCert”) have been transferred to Laurus in lieu of interest and other entitlements. These shares are subject to the same terms of the lock-in entered into between XL TechGroup and AgCert on 3 June 2005.
XL TechGroup continues to hold 39,220,965 AgCert shares, which represent 23.2% of AgCert's issued share capital.
John Scott, CEO of XL TechGroup, said: “XL TechGroup has still not sold any shares in AgCert since it listed in June 2005, other than to fulfill obligations with pre-IPO warrant holders last year. We continue to share AgCert management's confidence for the future. This transfer is part of the normal terms of our publicly announced agreements with Laurus. Furthermore, the XL TechGroup and AgCert relationships with Laurus continue to strengthen, with both companies agreeing new financing deals within the last few weeks.”For further information:
| XL TechGroup Inc. | |
| John Scott / Harold Gubnitsky | Tel: +1 321 409 7403 |
| hgubnitsky@xltg.com | |
| Chris Munden, Director of Investor Relations | Tel: +44 (0) 20 7398 7720 |
| cmunden@xltg.com | www.xltechgroup.com |
| Nomura Code Securities | |
| Richard Potts, Corporate Finance | Tel: +44 (0) 20 7776 1200 |
| www.codesecurities.com |
XL TechGroup media enquiries:
| Abchurch Communications | |
| Heather Salmond / Gareth Mead | Tel: +44 (0) 20 7398 7700 |
| heather.salmond@abchurch-group.com | www.abchurch-group.com |
NOTES TO EDITORS
About XL TechGroup
XL TechGroup is in the business of significant value creation. Working with major international corporate and technology partners such as AES, Procter & Gamble and leading universities, XL TechGroup first identifies global unmet market needs and then targets and exploits these by the systematic creation of successful, disruptive technology businesses. These are built from scratch, and are then funded and developed by XL TechGroup through to the point of a trade sale or a stock market listing.
XL TechGroup's unique and proven methodology selects the best opportunities in order to create one-to-two new companies annually, where each company is expected to achieve a valuation of at least US$400 million within four years from its creation. While an XL TechGroup company might perform a stock market listing at an earlier point in this four year timeframe, XL TechGroup would retain its controlling interest and would continue to assist with the company's development.
XL TechGroup's companies to date are: AgCert International plc (www.agcert.com), TyraTech LLC (www.tyratech.com), DxTech LLC (www.dxtech.com) and PetroAlgae LLC.
XL TechGroup has also established GenXL LLC as a joint venture to capture the value of those prospects that do not quite meet the US$400 million, four year criteria but still demonstrate considerable potential worth. Over and above XL TechGroup's core business model, GenXL will review a significant flow of opportunities from both XL TechGroup and GEN3 in order to generate new companies, standalone product lines and technology licensing opportunities or an appropriate mix of these.
For further information, see www.xltechgroup.com
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