Preliminary results for the twelve months ended 31 December 2005
18 April 2006
XL TechGroup, Inc. (AIM: XLT), the systematic architect and builder of an ongoing stream of high value new companies, today announces its preliminary results for the twelve months ended 31 December 2005.
Highlights
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AgCert International, the first company created by XL TechGroup, completed its listing on the main market of the London Stock Exchange in June 2005 and was valued at greater than US$687 million as at 13 April 2006 |
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TyraTech's technology has been validated by multiple potential customers and independent labs; a distributor agreement and a co-development agreement are currently in place, with the prospect of concluding further larger commercial agreements with a number of leading global companies within the next few months |
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DxTech, XL TechGroup's third company, was started in July 2005 and has already made considerable progress on developing a technology platform that meets a number of different market needs |
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announced key relationships for the development of new business opportunities with Procter & Gamble Company and The AES Corporation |
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operations and strategy on track to create one-to-two high value businesses per year with a liquidity event valuation of greater than US$400 million in four years or less for each |
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total cash and quoted securities at market (net of debt) as at 31 December 2005 of approximately US$158million, compared to US$28 million as at 31 December 2004 |
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obtained US$35 million debt financing from Laurus Capital in December 2005 |
Commenting on the results, John Scott, Chief Executive Officer of XL TechGroup, said: "2005 was a significant year for XL TechGroup, as we demonstrated our ability to create exciting, high value businesses. Our first company, AgCert International, was successfully listed on the main market of the London Stock Exchange; TyraTech is in advanced negotiations with a number of leading global players that are extremely interested in its natural pesticide technology; and our third company DxTech was created during 2005. These developments validate our plans to create a limited number of high value opportunities each year, with each one aiming at an exit valuation of at least US$400 million.
"We have also continued to develop and strengthen our strategic relationships with technology and corporate partners, such as Procter & Gamble, AES, Vanderbilt University and Arizona State University. Moreover, we have concluded numerous individual technology partnerships on four continents. Collectively, these relationships ensure the continuous flow of new companies and successful exits, and we already have a promising pipeline of new business opportunities."
“XL TechGroup today is well positioned both financially and strategically to take on the many exciting opportunities we have before us. We anticipate significant progress at both TyraTech and DxTech this year, and we would also expect to announce the launch of our fourth company within the next few months. All of this is expected to translate into added value for our shareholders.”
To view the full results in pdf format, click here
If you would like further information, please contact:
hgubnitsky@xltg.com
www.xltechgroup.com
XL TechGroup & TyraTech media inquiries:
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