Interim results for the six months ended 30 June 2007
28 September 2007
XL TechGroup Inc. (AIM: XLT), the systematic architect and builder of an ongoing stream of high value new companies, today announces its interim results for the six months ended 30 June 2007.
Highlights
- TyraTech listed on AIM in June 2007, raising gross proceeds of £25 million, with US$11.9 million used to repay debt owed to XL TechGroup
- XL TechGroup agrees additional US$20 million borrowing facility with Laurus in January 2007
- GenXL makes first investment in EnGen which is exploiting a unique platform technology that has a range of potential supercapacitor battery applications
- AgCert announces improved business strategy, raises additional £20.5 million and capitalises €14.6 million in debt
- Four acre process optimisation facility constructed and operational for PetroAlgae research and development
- Presidential Strategic Advisory acquires 2 million new XL TechGroup shares and is appointed strategic advisor to enhance and accelerate portfolio liquidity
- Strong total cash and quoted securities at market of approximately US$158.5 million as at 30 June 2007 (1H 2006: US$186.8 million)
Dr. John Scott, Chief Executive of XL TechGroup, said: “The Group has achieved significant commercial momentum over the past six months, capitalising on the development of an exciting series of world-changing technologies. Given the further progress that we anticipate across our companies during the next 12 months, we are confident that XL TechGroup is approaching a clear inflexion point in its valuation profile. Our continuing strategy is to create an ongoing series of significant cash distributions from the value created for our shareholders, and we are still anticipating that the first of these should occur in 2008.
For further information:
| XL TechGroup Inc. | |
| John Scott / Harold Gubnitsky | Tel: +1 321 409 7403 |
| hgubnitsky@xltg.com | www.XL TechGroup.com |
| Chris Munden, Director of Investor Relations | Tel: +44 (0) 20 7398 7720 |
| cmunden@xltg.com | |
| Nomura Code Securities | |
| Richard Potts, Corporate Finance | Tel: +44 (0) 20 7776 1200 |
| www.nomuracode.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 |
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