XLT XL Tech.

    RNS Number : 8389A
  XL TechGroup, Inc.
  07 August 2008
   

    

 Press Release  7 August 2008

    XL TechGroup, Inc.
    ("XL TechGroup" or "the Company")

    Fairness opinion 

    XL TechGroup (AIM: XLT) advises that, further to the announcement dated 30 July 2008 concerning two Special Meetings of Stockholders,
the independent fairness opinion in relation to the Restructuring Proposal to be voted on at the 8 August 2008 Special Meeting of
Stockholders has been received.  

    The fairness opinion, which has been based on an analysis of each of the assets to be transferred, taking into consideration, amongst
other things, the maturity of the assets, estimated cost-to-complete commercialization, and the potential value opportunity, all
appropriately risk adjusted, has concluded that the Restructuring Proposal is fair to XL TechGroup and its stockholders.  The Special
Meetings of Stockholders will therefore proceed as scheduled, with the first one (meeting A) to start at 9.00am Florida time on 8 August
2008, and the second one (meeting B) to start at 11.00am Florida time on 29 August 2008.  

    In case any stockholder has not received the circular and the proxies, these can be seen and downloaded from the Company's website under
Shareholder Information in the Investor Relations section (www.xltechgroup.com/html/investor/shareholder_profile.asp).  

    The proxy in relation to the Special Meeting of Stockholders on 8 August 2008 (meeting A) should be completed, signed and sent to XL
TechGroup's Company Secretary, to be received by no later than 9.00am Florida time on 8 August 2008.  The proxy in relation to the Special
Meeting of Stockholders on 29 August 2008 (meeting B) should be completed, signed and sent to XL TechGroup's Company Secretary, to be
received by no later than 11.00am Florida time on 29 August 2008.  

    Proxies can be returned by mail to The Company Secretary, XL TechGroup, Inc., 1901 S. Harbor City Blvd., Suite 300, Melbourne, Florida
32901, USA or, to expedite matters, by fax for the attention of the XL TechGroup Company Secretary to +1 321 723 7047.

    For further information:
 XL TechGroup
 Dr. John Scott / Harold Gubnitsky                  Tel: +1 321 409 7403
 hgubnitsky@xltg.com
 Chris Munden, Director of Investor Relations  Tel: +44 (0) 20 7398 7720
 cmunden@xltg.com                                    www.xltechgroup.com

 Nomura Code Securities
 Richard Potts, Corporate Finance  Tel: +44 (0) 20 7776 1200
 Giles Balleny                            www.nomuracode.com



This information is provided by RNS
The company news service from the London Stock Exchange
 
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