CAP-XX Limited
("CAP-XX" or the "Company")
Result of Annual General Meeting
The Board of CAP-XX announces the resolution put to shareholders at the Company's Annual General Meeting held earlier today was duly passed.
The Company also provided the following update to the current operating performance:
· Product Sales are running at a higher rate (6%) than the same period last year
· Cost savings from the operational initiatives are beginning to flow and the cash burn rate is decreasing accordingly
· Sales order book is robust and is higher than the average order balance for the previous financial year
· The Company has received the latest instalment of the Federal Government's R&D Tax rebate. Funds received were $200k higher than budget expectations
· Worldwide interest in the large prismatic cell in both the automotive and battery replacement continues to progress
· Issues with the SMD packaging have been overcome and samples will be shipped to interested parties before the end of the current calendar year
· Cash reserves balance as at the end of October is A$3.0m
For further information please contact:
CAP-XX Limited Anthony Kongats (Chief Executive Officer) |
+61 (0) 2 9428 0139 |
Cenkos SecuritiesStephen Keys/Camilla Hume (Corporate Finance) |
+44 (0) 20 7397 8900 |
Kreab Gavin Anderson & Company Robert Speed (Financial PR) |
+44 (0) 20 7074 1800 |
