XAR Xaar Plc

TIDMXAR

RNS Number : 3759Z

Xaar PLC

14 December 2017

Xaar plc

Update on License Agreement

Xaar plc ("Xaar"), a Cambridge-based world leader in industrial inkjet technology, announces today that it has reached agreement with Seiko Instruments Inc ("SII") to upgrade SII's current License Arrangement and replace its future royalty obligations in exchange for a total cash amount of JPY2.98 billion (GBP20 million), to be paid in two tranches with both tranches payable by the end of the first half of financial year 2018.

Enquiries:

 
Xaar plc 
 
  Doug Edwards, Chief Executive 
  Officer 
  Lily Liu, Chief Financial 
  Officer                           +44 (0)1223 423 663 
 
Tulchan Communications 
James Macey White 
 David Ison 
 Deborah Roney                    +44 (0)20 7353 4200 
 
 

About Xaar

Xaar is a world-leader in the development of inkjet technology and manufacture of piezoelectric drop-on-demand industrial printheads. The company also develops and sells ink systems, electronics and fluid optimisation services to accelerate inkjet system development and adoption. Xaar printheads incorporate patented technology, which delivers unbeatable performance when decorating, patterning, depositing functional coatings on, or adding structure to, a variety of industrial and consumer products. Today leading manufacturers worldwide, in sectors ranging from ceramics, wide-format graphics and labels to direct-to-shape packaging and decorative laminates, choose Xaar's printheads because they are extremely precise, exceptionally versatile, incredibly reliable, and designed for high-volume production. Additional information about Xaar is available at www.xaar.com

This information is provided by RNS

The company news service from the London Stock Exchange

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December 14, 2017 06:11 ET (11:11 GMT)

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