Result of AGM and Chairman's AGM statement

RNS Number : 9340B

CAP-XX Limited

12 October 2015

 



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 provided the following update in relation to the Company's activities:

"The Board is very pleased with recent progress made with our large supercapacitors aimed at the automotive market. Our customers and potential partners have undertaken rigorous testing of our products, both in the field and in the lab, over the last several months, with excellent results. The Board looks forward to potentially providing additional updates on our automotive applications over the remainder of this quarter and the first quarter of 2016. We are also very pleased with the progress with our research and development partner Thales, and other third-party product development contracts, which is expected to continue over the coming months.

"The Board is also very encouraged by the interest shown by customers desiring small supercapacitors targeted at the various Internet of Things (IoT) markets. Murata royalties have more than doubled over the last year, and while still modest in absolute terms, we are pleased that Murata is forecasting increased small supercapacitor sales.

"As a result of our research efforts and after rigorous testing we have now increased the voltage rating of our Thinline and our single G series cells to 2.5V and 2.75V peak, and our dual cells to 5V and 5.5V peak. We believe that the effect of these significant performance improvements will be to greatly broaden our addressable markets. More importantly, this makes CAP-XX supercapacitors even more cost effective than previously. Our new Thinline range of supercapacitors has been very well received, and we have seen an increasing level of requests for product testing and prototyping in end products. As customers plan for the changes to these new parts, we expect that we will see some deferment of orders from the first half of the financial year to the second half.

"We remain very excited by the opportunities that we see for our supercapacitors in the automotive markets and the IoT and remain confident for the outcome for the year."

For further information contact:

CAP-XX Limited
Anthony Kongats (Chief Executive Officer)		[phone]
Kreab (Financial PR)
Robert Speed		[phone]
Allenby Capital (Nominated Adviser and Broker)
David Hart / Alex Brearley (Corporate Finance)		[phone]

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 to an increasing extent, 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

 

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