Xeros has announced a placing raising £5.7m (gross) at 0.5p/share to fund the business model through to profitability and cash generation. We have now sensitised our forecasts for COVID19 and expect circa six months delay to projects with Chinese and Indian licensees, but we believe that the impact on the long-term potential of the business and its valuation will be negligible. Our target price is adjusted to 2p/share to take account of the new shares being issued through the placing.
24 Apr 2020
Xeros - All set for commercial and financial success
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Xeros - All set for commercial and financial success
Xeros Technology Group Plc (XSG:LON) | 1.4 0 1.8% | Mkt Cap: 3.26m
- Published:
24 Apr 2020 -
Author:
Michael Clifton | Cavendish Research -
Pages:
10
Xeros has announced a placing raising £5.7m (gross) at 0.5p/share to fund the business model through to profitability and cash generation. We have now sensitised our forecasts for COVID19 and expect circa six months delay to projects with Chinese and Indian licensees, but we believe that the impact on the long-term potential of the business and its valuation will be negligible. Our target price is adjusted to 2p/share to take account of the new shares being issued through the placing.