CAP-XX Limited Result of AGM and Chairman's AGM statement (3553Q)

TIDMCPX

RNS Number : 3553Q

CAP-XX Limited

29 November 2016

29 November 2016

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 Board is very pleased with progress made over the last year with our large supercapacitors aimed at the automotive market. It was an especially great honour to be recognised by our peers and the Society of Automotive Engineers - Australasia, with CAP-XX winning both their Manufacturing Award in the Non-OE Category for our new automotive supercapacitor modules and also their Platinum Award for overall excellence across all categories. Our customers and potential partners have continued with rigorous testing of our existing products, both in the field and in the lab, over the last year, with excellent results. At the same time, we have responded to customer feedback and developed product variations for particular customer needs. The Board looks forward to potentially providing additional updates on our automotive applications over the remainder of this quarter and through 2017."

"The Board is also encouraged by the interest shown by customers in using small supercapacitors for various products targeting various Internet of Things (IoT) markets. We have several new customer projects that are moving from the development phase towards becoming products, in both our established line of prismatic supercapacitors, our Thinline supercapacitors and also a new range of supercapacitors to be released in 2017."

"Murata continued to expand its efforts in the field of supercapacitors and lithium ion batteries using our intellectual property and this is being translated into higher royalty payments. The addition of the AVX licence also adds new sales channels and opportunities for CAP-XX. These payments from Murata and AVX, together with the R&D tax rebate received in October of this year, are all working to strengthen our cash flow"

"We remain very excited by the opportunities that we see for our supercapacitors in the automotive markets and the Internet of Things and remain confident for the coming 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 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

This information is provided by RNS

The company news service from the London Stock Exchange

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November 29, 2016 02:22 ET (07:22 GMT)