CAP-XX Limited Result of AGM and Chairman's AGM statement (3553Q)
29 November 2016 - 6:22PM
UK Regulatory
TIDMCPX
RNS Number : 3553Q
CAP-XX Limited
29 November 2016
29 November 2016
CAP-XX Limited
("CAP-XX" or "the Company")
Result of AGM and Chairman's AGM statement
The Board of CAP-XX announces that all resolutions put to
shareholders at the Company's Annual General Meeting held earlier
today were duly passed.
CAP-XX's Chairman, Pat Elliott, also made the following
statement in relation to the Company's activities:
"The Board is very pleased with progress made over the last year
with our large supercapacitors aimed at the automotive market. It
was an especially great honour to be recognised by our peers and
the Society of Automotive Engineers - Australasia, with CAP-XX
winning both their Manufacturing Award in the Non-OE Category for
our new automotive supercapacitor modules and also their Platinum
Award for overall excellence across all categories. Our customers
and potential partners have continued with rigorous testing of our
existing products, both in the field and in the lab, over the last
year, with excellent results. At the same time, we have responded
to customer feedback and developed product variations for
particular customer needs. The Board looks forward to potentially
providing additional updates on our automotive applications over
the remainder of this quarter and through 2017."
"The Board is also encouraged by the interest shown by customers
in using small supercapacitors for various products targeting
various Internet of Things (IoT) markets. We have several new
customer projects that are moving from the development phase
towards becoming products, in both our established line of
prismatic supercapacitors, our Thinline supercapacitors and also a
new range of supercapacitors to be released in 2017."
"Murata continued to expand its efforts in the field of
supercapacitors and lithium ion batteries using our intellectual
property and this is being translated into higher royalty payments.
The addition of the AVX licence also adds new sales channels and
opportunities for CAP-XX. These payments from Murata and AVX,
together with the R&D tax rebate received in October of this
year, are all working to strengthen our cash flow"
"We remain very excited by the opportunities that we see for our
supercapacitors in the automotive markets and the Internet of
Things and remain confident for the coming year."
For further information contact:
CAP-XX Limited
Anthony Kongats (Chief Executive Officer) +61 (0) 2 9428 0139
Kreab (Financial PR)
Robert Speed +44 (0) 20 7074 1800
Allenby Capital (Nominated Adviser and Broker)
David Hart / Alex Brearley (Corporate Finance) +44 (0) 20 3328 5656
More information is available at www.cap-xx.com
Notes to Editors:
CAP-XX (LSE: CPX) is a world leader in the design and
manufacture of thin, flat supercapacitors and energy management
systems used in portable and small-scale electronic devices, and
large supercapacitor based modules used in larger applications such
as automotive and renewable energy. The unique feature of CAP-XX
supercapacitors is their very high power density and high energy
storage capacity in a space-efficient prismatic package. These
attributes are essential in power-hungry consumer and industrial
electronics, and deliver similar benefits in automotive and other
transportation applications. For more information about CAP-XX,
visit www.cap-xx.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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