Business
Proposed Placing and Notice of General Meeting
Proposed Placing and Notice of General Meeting.
About this update from Cap-xx Limited
[{"type":"text","content":"\n \nRNS Number : 8426J CAP-XX Limited 22 July 2013 \n \n\n \nCAP-XX Limited\n(\"CAP-XX\" or the \"Company\")\nProposed Placing and Notice of General Meeting\n \nThe Board of CAP-XX is pleased to announce that it has raised, subject to certain conditions, £1.55 million (approximately £1.33 million net of expenses) through the placing of up to 28,181,819 new ordinary shares in the Company (the \"Placing\") at a price of 5.5 pence per share (the \"Placing Price\"). The funds raised will be used by the CAP-XX to provide the Company with sufficient funds to enhance the current automotive technology offering (including plant and equipment), complete the surface mountable device (\"SMD\") packaging and to provide samples to potential licensees, complete and deploy the supercapacitor cost reduction programme and provide the Company with additional working capital.\nThe placing is conditional, inter alia, on the passing of the Resolution by shareholder to be proposed at the General Meeting convened for 29 August 2013.\n \nA circular containing the details of the Placing (the \"Circular\") will be posted to shareholders shortly and will be available on the Company's website: www.cap-xx.com.\n \nThe same definitions apply throughout this announcement as are applied in the Circular.\n \n \nCommenting, Anthony Kongats, CEO of CAP-XX said, \"The placing will allow us to further develop our large supercapacitor for Micro-Hybrid automotive applications, which has already seen considerable demand for evaluation samples from automobile manufacturers and their teir 1 component suppliers, from our recently commissioned production line. It additionally enables us to complete the development of our surface mount supercapacitor for high volume small mobile devices and to provide samples to prospective licensees.\"\n \nFor further information please contact:\n\n\n\n\nCAP-XX Limited\n \nAnthony Kongats (Chief Executive Officer)\n\n\n \n+61 (0) 2 9428 0139\n\n\n\n\nCenkos Securities\nStephen Keys/Camilla Hume (Corporate Finance)\n\n\n \n+44 (0) 20 7397 8900\n \n\n\n\n\nKreab Gavin Anderson & Company \nRobert Speed (Financial PR)\n \n\n\n \n+44 (0) 20 7074 1800\n\n\n\n\n \n \n \nBackground to and reasons for the Placing \nAs noted in the Comp...