1st Jun 2007 08:51
XL TechGroup, Inc.01 June 2007 Press Release 1 June 2007 XL TechGroup, Inc. ("XL TechGroup" or "the Company") TyraTech First Day of Dealings XL TechGroup (AIM: XLT), the systematic architect and builder of an ongoingstream of high value new companies, is pleased to announce that trading in theordinary shares of its second company, TyraTech Inc. ("TyraTech") (AIM: TYR),the pioneer of safer, effective and natural pesticide products, has begun onAIM. Admission to trading follows a Placing of TyraTech's Ordinary Shares, whichraised £25 million before expenses at the Placing Price of 500 pence per share.TyraTech has a market capitalisation of £110 million based on the Placing price. XL TechGroup holds a 47.92% interest in TyraTech. Dr. John Scott, CEO of XL TechGroup, said: "Our confidence in TyraTech isunderpinned by the fact that we have not sold any shares as part of the IPOplacing and are supportive and enthusiastic shareholders. This successful IPOfurther validates our continuing process of significant value creation." - Ends - For further information:XL TechGroup Inc.John Scott / Harold Gubnitsky Tel: +1 321 409 [email protected] Chris Munden, Director of Investor Relations Tel: +44 (0) 20 7398 [email protected] www.xltechgroup.com Nomura Code SecuritiesRichard Potts, Corporate Finance Tel: +44 (0) 20 7776 1200 www.nomuracode.com XL TechGroup media enquiries:Abchurch CommunicationsHeather Salmond / Gareth Mead Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com NOTES TO EDITORS About XL TechGroup XL TechGroup is in the business of significant value creation. Working withmajor international corporate and technology partners such as AES, Procter &Gamble and leading universities, XL TechGroup first identifies global unmetmarket needs and then targets and exploits these by the systematic creation ofsuccessful, disruptive technology businesses. These are built from scratch, andare then funded and developed by XL TechGroup through to the point of a tradesale or a stock market listing. XL TechGroup's unique and proven methodology selects the best opportunities inorder to create one-to-two new companies annually, where each company isexpected to achieve a realisable valuation of at least US$400 million withinfour years from its creation. While an XL TechGroup company might perform astock market listing at an earlier point in this four year timeframe, XLTechGroup would retain its controlling interest and would continue to assistwith the company's development. XL TechGroup's companies to date are: AgCert International plc (www.agcert.com),TyraTech Inc. (www.tyratech.com), DxTech LLC (www.dxtech.com), PetroAlgae LLC(www.petroalgae.com) and QuoNova LLC (www.quonova.com). XL TechGroup has also established GenXL LLC (www.gnxl.com) as a joint venture tocapture the value of those prospects that do not quite meet the US$400 million,four year criteria but still demonstrate considerable potential worth. Over andabove XL TechGroup's core business model, GenXL will review a significant flowof opportunities from both XL TechGroup and GEN3 in order to generate newcompanies, standalone product lines and technology licensing opportunities or anappropriate mix of these. For further information, see www.xltechgroup.com About TyraTech TyraTech is pioneering a new class of highly effective pesticides andanti-parasitic compounds to address global markets in agriculture, horticulture,functional foods, healthcare and veterinary science. Using a proprietarychemoreceptor screening process, TyraTech has identified both individual, andcombinations of, natural oil compounds that bind to neurological and olfactoryreceptors of insects and parasites so that they can be effectively repelled orkilled. TyraTech's natural product lines are designed to selectively targetinvertebrates, but not humans or other mammals, and overcome resistance throughattacking multiple sensitive biologic receptors. TyraTech has developed multiple routes to market for its products includingthrough strong partnerships with major multi-national commercialisation partnerssuch as Syngenta Crop Protection AG; The Scotts Company LLC; Arysta LifeScienceNorth America Corporation; and Kraft Foods Holdings, Inc. For further information, see www.tyratech.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tyratech