Placing and Trading Update

RNS Number : 1346H

CAP-XX Limited

24 May 2011

 



24 May 2011

 

CAP-XX Limited

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

Placing and Trading Update

CAP-XX Limited (AIM:CAPX.L), announces that Seymour Pierce Ltd has on behalf of the Company, placed 9,072,813 new ordinary shares of NPV ("New Ordinary Shares") at a price of 16 pence, to raise approximately £1.5 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 batteries in small portable devices.

The proceeds of the placing are to be used for the development of supercapacitor products and working capital purposes.

Placing details

Seymour Pierce Ltd has placed 9,072,813 New Ordinary Shares on behalf of the Company with institutional investors. The Placing is conditional, inter alia, upon Admission and will raise £1,451,650 before expenses.

Application will be made for the New Ordinary Shares issued pursuant to the Placing to be admitted to trading on AIM and it is anticipated that Admission will become effective and that dealings will commence on  1 June 2011.

The Placing Shares will, when issued, rank equally in all respects with the existing ordinary shares and will represent approximately 11.8 per cent of the entire issued share capital of the Company immediately following Admission.

Following the Placing the Company will have 77,032,097 ordinary shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in CAP-XX Limited, under the Disclosure and Transparency Rules.

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 (Corporate Broking)	[phone]
Kreab Gavin Anderson & Company (Financial PR) Robert Speed, Deborah Walter, Anthony Hughes	[phone]

Notes to Editors:

CAP-XX is a world leader in the design and manufacture of thin form supercapacitors and energy management systems, predominantly for portable electronic devices.

The unique feature of CAP-XX's supercapacitors is their ability to store high volumes of energy and output high power levels within a thin form design.  These attributes will be critical for the next generation of high volume, power-hungry portable electronic devices, including mobile phones.

Portable devices are one of the fastest growing segments of the electronics market and provide the greatest opportunities for CAP-XX's products.  CAP-XX's products are already an established enabling technology for the current generation of wireless devices and portable devices. 

 

END

 

 

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