Final results for the year ended 31 December 2007
30 June 2008
XL TechGroup (AIM: XLT), the creator of companies that solve identified, global unmet market needs, announces its final results for the year ended 31 December 2007. XL TechGroup’s 2007 annual report and accounts will be posted on the Company’s website (www.xltechgroup.com) at approximately 4.00pm UK time today and will also be mailed to shareholders today.
Dr. John Scott, CEO of XL TechGroup, said: “2007 was a positive year for XL TechGroup, with the exception of developments at AgCert which recently reached their conclusion. Significant progress has been made at PetroAlgae, DxTech and QuoNova, while TyraTech has followed its successful IPO with further encouraging news on milestones achieved and new products launched.
Management and staff of XL TechGroup are the largest shareholders and we have also been significantly impacted by the fall in our share price. Nevertheless, we retain full confidence not only in our underlying business model but also in the considerable value that we believe is being built in our companies. While our accounts include a going concern disclosure and we had no alternative but to request a suspension of trading in our shares following the unexpected last minute withdrawal of negotiated heads-of-terms by a funding party, we are continuing discussions with potential funding partners. Subject to reaching a satisfactory agreement, we are optimistic that we will be able to demonstrate over the coming months that these are temporary short-term issues, with future news flow anticipated to include licensing deals, strategic investments and a non-core asset sale.”
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.