US court action settlement and licence agreement

RNS Number : 1206E

CAP-XX Limited

02 July 2019

 

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

2 July 2019

CAP-XX Limited

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

US court action settlement and licence agreement with CDE

CAP-XX is pleased to announce that, following a court action, it has reached agreement with Cornell-Dubilier Electronics Inc. (CDE), whereby CDE will licence two of CAP-XX's patents on a non-exclusive basis.

CDE is a US based privately owned capacitor manufacturer with over 35,000 customers worldwide. It is also the largest manufacturer of power capacitors in North America.

The royalty rate to be paid to CAP-XX is in line with the royalty rates applicable to other licence agreements with third parties. No further financial details relating to the transaction will be disclosed due to confidentiality provisions in the settlement.

Anthony Kongats, Chief Executive of CAP-XX said:

"We are delighted that CDE has settled our action.  This settlement reinforces the integrity of our intellectual property, which is critical to the production of supercapacitors as well as other related applications."

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]

 

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