CAP-XX Limited Trading update for year ending 30 June 2017 (3786H)
07 June 2017 - 4:00PM
UK Regulatory
TIDMCPX
RNS Number : 3786H
CAP-XX Limited
07 June 2017
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
7 June 2017
CAP-XX Limited
("CAP-XX" or the "Company")
Trading update for year ending 30 June 2017
CAP-XX Limited, a world leader in the design and manufacture of
supercapacitors, which considerably extend the performance of
batteries, today announces a trading update for the year ending 30
June 2017.
CAP-XX has continued to make excellent progress in advancing
negotiations on new licencing agreements and high value customer
contracts for its range of supercapacitors. Its existing licencees,
AVX and Murata, continue to perform strongly. AVX has paid ahead of
schedule GBP 750,000 of licence fees due to CAP-XX under existing
agreements, whilst the royalty payments from Murata continue to
increase, with the last quarterly royalty payment being the highest
ever, up by over 50% compared to the same period in the prior year.
The Company continues to develop and expand its licencing and new
business opportunities.
The Board noted in the interim statement on 20 March 2017 that
they expected to finalise additional licence and sales
opportunities by the 30(th) June 2017. Whilst the Board remains
very confident that new licence deals and sales opportunities will
be realised in the next few months, it now believes that certain of
these licence opportunities may not be completed prior to the end
of the current financial year.
As a result of these delays, the Board now expects that revenues
for the year ending 30 June 2017 will be A$4.11 million that, as a
consequence, the EBITDA loss generated by Company for the year
ending 30 June 2017 will be A$1.15 million.
The Company has adequate cash resources to meet its foreseeable
needs and the Board is increasingly confident of a successful
conversion of the growing pipeline of high value enquiries received
for licensing and manufactured products.
For further information contact:
CAP-XX Limited
Anthony Kongats (Chief Executive Officer) +61 (0) 2 9428
0139
Allenby Capital Limited (Nominated Adviser and Broker)
David Hart/Alex Brearley (Corporate Finance) +44 (0) 20 3328
5656
Kreab
Robert Speed (Financial PR) +44 (0) 20 7074 1800
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
a range of applications including portable and small-scale
electronic devices; 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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