Trading update for year ending 30 June 2017

RNS Number : 3786H

CAP-XX Limited

07 June 2017

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

7 June 2017

 

 

CAP-XX Limited

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

Trading update for year ending 30 June 2017

CAP-XX Limited, a world leader in the design and manufacture of supercapacitors, which considerably extend the performance of batteries, today announces a trading update for the year ending 30 June 2017.

CAP-XX has continued to make excellent progress in advancing negotiations on new licencing agreements and high value customer contracts for its range of supercapacitors. Its existing licencees, AVX and Murata, continue to perform strongly.  AVX has paid ahead of schedule GBP 750,000 of licence fees due to CAP-XX under existing agreements, whilst the royalty payments from Murata continue to increase, with the last quarterly royalty payment being the highest ever, up by over 50% compared to the same period in the prior year. The Company continues to develop and expand its licencing and new business opportunities.

The Board noted in the interim statement on 20 March 2017 that they expected to finalise additional licence and sales opportunities by the 30^th June 2017.  Whilst the Board remains very confident that new licence deals and sales opportunities will be realised in the next few months, it now believes that certain of these licence opportunities may not be completed prior to the end of the current financial year.  

As a result of these delays, the Board now expects that revenues for the year ending 30 June 2017 will be A$4.11 million that, as a consequence, the EBITDA loss generated by Company for the year ending 30 June 2017 will be A$1.15 million.

The Company has adequate cash resources to meet its foreseeable needs and the Board is increasingly confident of a successful conversion of the growing pipeline of high value enquiries received for licensing and manufactured products.

For further information contact:

CAP-XX Limited

Anthony Kongats (Chief Executive Officer)                                                    [phone]

Allenby Capital Limited (Nominated Adviser and Broker)

David Hart/Alex Brearley (Corporate Finance)                                                [phone]

Kreab

Robert Speed (Financial PR)                                                                        [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 a range of applications including portable and small-scale electronic devices; 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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