Result of AGM and Chairman's AGM statement

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)                             [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 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

 

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