Issue of Equity

RNS Number : 1343Z

CAP-XX Limited

12 March 2012

 



12 March 2012

 

CAP-XX Limited

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

Placing to raise £3.28 million

CAP-XX Limited (AIM:CAPX.L), is pleased to announce that it has placed a total of 10,945,333 new ordinary shares of NPV ("New Ordinary Shares") at a price of 30 pence, to raise £3,283,600 million before expenses (the "Placing"). CAP-XX is a world leader in the design and manufacture of revolutionary thin-form supercapacitors which considerably extend the performance of conventional battery power systems.

The proceeds of the placing are to be used for the development of supercapacitor products, including Stop-Start product prototyping for automotive applications and working capital purposes.

Placing details

Seymour Pierce Ltd has placed 9,245,333 New Ordinary Shares on behalf of the Company with institutional investors. In addition and further to the announcement of 27 February 2012 regarding an automotive Stop-Start commercialisation agreement, CAP-XX is pleased to announce that  a leading Chinese automotive component company has agreed to subscribe for 1,700,000 New Ordinary Shares, subject to Chinese Government approval.

The Placing is conditional, inter alia, upon Admission and will raise a total of £3,283,600 before expenses.

Application will be made for the 9,245,333 New Ordinary Shares subscribed for by institutional investors to be admitted to trading on AIM and it is anticipated that Admission will become effective and that dealings will commence on 15 March 2012. It is expected that admission of 1,700,000 New Ordinary Shares subscribed for by the Chinese automotive component company will take place on or around 30 March 2012. A further announcement will be made in due course.

For further information, please contact

CAP-XX Limited Anthony Kongats, Chief Executive Officer	[phone]
Seymour Pierce Ltd Nandita Sahgal/Catherine Leftley (Nominated Adviser) David Banks/Paul Jewell (Corporate Broking)	[phone]
Kreab Gavin Anderson & Company Robert Speed/Deborah Walter/Anthony Hughes	[phone]

 

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