XL TechGroup company, AgCert, issues release in response to share price movement
30 January 2007
XL TechGroup (AIM: XLT), the systematic architect and builder of an ongoing stream of high value new companies, advises that XL TechGroup company, AgCert International plc (“AgCert”), a leader in the production and sale of agriculturally derived greenhouse gas emission reductions, has today issued a statement in response to a movement in AgCert's share price.
The Board of AgCert confirms that there is no operational reason to explain the share price movement and reaffirms its expectations contained in the AgCert trading update released on 21 December 2006.
For 2007 AgCert expects to see an incremental increase in the run-rate capacity of 5 million CERs. The forward run-rate at the end of 2007 will therefore be an annualised 8 million CERs. In 2008 AgCert intends to create a further 5 million CERs so that, at the end of 2008, the company will have a productive forward run-rate of an annualised 13 million CERs.
At the time of the 21 December 2006 trading update AgCert referred to an efficiency run rate of 50%. The implementation of new processes continues to positively impact output levels so that on a like-for-like basis operating levels are at 60% efficiency.
AgCert will release full year figures for the year to end 31 December 2006 on 26 March 2007.
John Scott, CEO of XL TechGroup, commented: “AgCert continues to make significant progress and we are pleased that the expectations highlighted in their December 2006 update have today been reaffirmed. The company has established itself as a dominant, global player in a rapidly growing industry and is on track to deliver a productive forward run-rate of an annualised 13 million CERs by the end of 2008. AgCert's efficiency levels are, as expected, continuing to show considerable improvement and, as the company expands to new geographies and verticals, we are happy to reiterate that we share AgCert management's confidence about the future.”
For further information:
| XL TechGroup Inc. | |
| John Scott / Harold Gubnitsky | Tel: +1 321 409 7403 |
| hgubnitsky@xltg.com | www.xltechgroup.com |
| Chris Munden, Director of Investor Relations | Tel: +44 (0) 20 7398 7720 |
| cmunden@xltg.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
Disclaimer for US Site Visitors
This web site contains investor-related information that is directed only to non-US persons. The investor-related and other information provided on this web site is for use only by non-U.S persons, and is not an offer to buy or sell, or a solicitation of an offer to buy or sell, any XL TechGroup securities. Moreover, we may not offer or sell XL TechGroup securities in the U.S. absent registration or an exemption from registration. If you are a U.S. person, or a person acquiring XL TechGroup ordinary shares for the account or benefit of any U.S. person, you agree and acknowledge that XL TechGroup's ordinary shares have not been registered under the U.S. Securities Act of 1933, as amended, and any offer or sale of XL TechGroup securities by XL TechGroup or its affiliates may be made solely pursuant to an exemption from the U.S. Securities Act of 1933, as amended.