Business
Subscription to raise £1.75 million
Subscription to raise £1.75 million.
About this update from Cap-xx Limited
[{"type":"text","content":"\n \nRNS Number : 2691G CAP-XX Limited 05 November 2018 \n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 (\"MAR\"). IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION. \n \n5 November 2018\n \n \nCAP-XX Limited\n \n(\"CAP-XX\" or the \"Company\")\n \nSubscription to raise £1.75 million\n \nCAP-XX, a world leader in the design and manufacture of supercapacitors and energy management systems, is pleased to announce that the Company has raised gross proceeds of £1.75 million (approximately A$3.0m after fees), by way of a subscription (the \"Subscription\") of 20,588,236 new ordinary shares (the \"Subscription Shares\") at a price of 8.5 pence per share (the \"Subscription Price\"). The Subscription Price represents a discount of approximately 8 per cent. to the closing mid-market price on 2 November 2018, the last practicable date prior to the release of this announcement. The Subscription Shares are to be issued within the Company's existing share allotment authorities, in line with CAP-XX's dilution policy which was approved by shareholders on 23 November 2017. \n \nThe proceeds of the Subscription will be used to advance the Company's strategy to increase product sales and to complete additional licence agreements. \n \nApplication has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will become effective and dealings in the Subscription Shares will commence at 8:00 am on 9 November 2018. \n \nThe Subscription Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid in respect of the Company`s ordinary shares (\"Ordinary Shares\") after the date of Admission and will otherwise rank pari passu in all respects with the Company's existing Ordinary Shares. \n \nThe enlarged issued share...