CAP-XX Limited Subscription to raise £1.75 million (2691G)
November 05 2018 - 1:00AM
UK Regulatory
TIDMCPX
RNS Number : 2691G
CAP-XX Limited
05 November 2018
THIS 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.
5 November 2018
CAP-XX Limited
("CAP-XX" or the "Company")
Subscription to raise GBP1.75 million
CAP-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 GBP1.75
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.
The proceeds of the Subscription will be used to advance the
Company's strategy to increase product sales and to complete
additional licence agreements.
Application 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.
The 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.
The enlarged issued share capital of the Company following the
issue of the Subscription Shares will be 323,752,709 Ordinary
Shares with voting rights. The Company does not hold any Ordinary
Shares in Treasury.
Following Admission, the above figure of 323,752,709 Ordinary
Shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or change to their
interest in, the share capital of the Company.
Commenting on the Subscription, Anthony Kongats, Chief Executive
of CAP-XX said, "We are delighted to receive continued support from
our institutional shareholders in supporting this funding round
which will accelerate the expansion of our direct sales channels
for supercapacitors alongside sales through our growing portfolio
of licences."
Information for Distributors
Solely for the purposes of the product governance requirements
contained within: (a) EU Directive 2014/65/EU on markets in
financial instruments, as amended ("MiFID II"); (b) Articles 9 and
10 of Commission Delegated Directive (EU) 2017/593 supplementing
MiFID II; and (c) local implementing measures (together, the
"Product Governance Requirements"), and disclaiming all and any
liability, whether arising in tort, contract or otherwise, which
any "manufacturer" (for the purposes of the Product Governance
Requirements) may otherwise have with respect thereto, the
Subscription Shares have been subject to a product approval process
by Allenby Capital Limited, which has determined that the
Subscription Shares are: (i) compatible with an end target market
of retail investors and investors who meet the criteria of
professional clients and eligible counterparties, each as defined
in MiFID II; and (ii) eligible for distribution through all
distribution channels as are permitted by MiFID II (the "Target
Market Assessment"). Notwithstanding the Target Market Assessment,
investors should note that: the price of the Subscription Shares
may decline and investors could lose all or part of their
investment; Subscription Shares offer no guaranteed income and no
capital protection; and an investment in Subscription Shares is
compatible only with investors who do not need a guaranteed income
or capital protection, who (either alone or in conjunction with an
appropriate financial or other adviser) are capable of evaluating
the merits and risks of such an investment and who have sufficient
resources to be able to bear any losses that may result therefrom.
The Target Market Assessment is without prejudice to the
requirements of any contractual, legal or regulatory selling
restrictions in relation to the Subscription. Furthermore, it is
noted that, notwithstanding the Target Market Assessment, only
investors who have met the criteria of professional clients and
eligible counterparties have been procured. For the avoidance of
doubt, the Target Market Assessment does not constitute: (a) an
assessment of suitability or appropriateness for the purposes of
MiFID II; or (b) a recommendation to any investor or group of
investors to invest in, or purchase, or take any other action
whatsoever with respect to Subscription Shares.
For further information, please contact:
CAP-XX Limited
Anthony Kongats (Chief Executive Officer) +61 (0) 2 9428 0139
Allenby Capital Limited (Nominated Adviser
and Broker)
David Hart / Alex Brearley +44 (0) 20 3328 5656
Kreab (Financial PR)
Robert Speed +44 (0) 20 7074 1800
More information is available at www.cap-xx.com
Notes to editors
About CAP-XX
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
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END
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