CAP-XX Limited Result of AGM and Chairman's AGM statement (3401X)
November 23 2017 - 4:40AM
UK Regulatory
TIDMCPX
RNS Number : 3401X
CAP-XX Limited
23 November 2017
23 November 2017
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 Company's order book is currently up 242% year on year
because of the strong order intake for the Internet of Things (IoT)
especially in the Wearables, Metering, Medical and Electronic Lock
market segments. Product sales revenue as at November is up 17% on
the previous year primarily due to the increase in demand for IoT,
with year on year increases in Security, Electronic Locks, RFID,
Wearables and Solid State Drives (SSD). The majority of the Spire
revenue, that was recently announced, will fall in the second half
of the current financial year."
"Royalty and license income continues to grow and financial year
to date receipts from Murata have more than doubled year on year.
Discussions with potential new licensees continue and remain
promising. However, any moves by CAP-XX to accelerate our various
counterparties' response time will be largely ineffective. On both
products sales and licensing there is extensive design and
technical evaluation required and this cannot be done to meet a
particular timeframe. Given the growth in the business and various
initiatives being deployed, it is imperative that CAP-XX is able to
retain and attract top talent."
"The Board remains confident in the direction of the Company
especially given the increased interest from the IoT and Automotive
markets".
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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