CAP-XX Result of AGM

RNS Number : 4583S

CAP-XX Limited

07 November 2013

 



CAP-XX Limited

("CAP-XX" or the "Company")

Result of Annual General Meeting

The Board of CAP-XX announces the resolution put to shareholders at the Company's Annual General Meeting held earlier today was duly passed.

The Company also provided the following update to the current operating performance:

·     Product Sales  are running at a higher rate (6%) than the same period last year

·     Cost savings from the operational initiatives are beginning to flow and the cash burn rate is decreasing accordingly

·     Sales order book is robust and is higher than the average order balance for the previous financial year

·     The Company has received the latest instalment of the Federal Government's R&D Tax rebate. Funds received were $200k higher than budget expectations

·     Worldwide interest in the large prismatic cell in both the automotive and battery replacement continues to progress

·     Issues with the SMD packaging have been overcome and samples will be shipped to interested parties before the end of the current calendar year

·     Cash reserves balance as at the end of October is A$3.0m

For further information please contact:

CAP-XX Limited Anthony Kongats (Chief Executive Officer)	[phone]
Cenkos Securities Stephen Keys/Camilla Hume (Corporate Finance)	[phone]
Kreab Gavin Anderson & Company Robert Speed (Financial PR)	[phone]

 

END

 

 

RAGLLFLLLELDIIV