REG - CAP-XX Limited - Update re. R&D rebate and other matters

CAP XXAnnouncement

01/12/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231201:nRSA2977Va&default-theme=true

RNS Number : 2977V  CAP-XX Limited  01 December 2023

1 December 2023

CAP-XX Limited

("CAP-XX" or the "Company")

Update on FY23 R&D rebate, JV with Ionic Industries and Distribution
Strategy

CAP-XX Limited, a world leader in the design and manufacture of
supercapacitors and energy management systems, is pleased to announce that the
Australian Taxation Office has approved the FY23 research & development
grant and associated rebate totaling A$2.1m. The net proceeds of A$1.0m, after
repaying the principal and interest associated with the revolving line of
credit drawdown, were received by CAP-XX earlier this week.

Further to the Company's announcement on 4 May 2022, CAP-XX announces that it
has formally signed a joint venture ("JV") vehicle and shareholders agreement
(the "Agreement") with Ionic Industries Limited ("Ionic") for the exclusive
commercialisation of Ionic's reduced graphene oxide technology to increase
electrode density in supercapacitors. The final terms of this Agreement are
consistent with the original term sheet of the JV. Both parties are keen to
make this JV a success, and a further announcement will be made once final
performance evaluations and business plans for the JV have been completed and
agreed.

In addition, CAP-XX is pleased to announce that the repositioning of its
distribution strategy, that has been communicated over the past six months,
continues to progress, with the appointment of a further European distributor,
in addition to one in India and two in South Africa. New sales and application
opportunities have already been identified by these distributors and purchase
orders are anticipated to be received in the coming weeks. The Company is also
in the final stages of negotiation with additional distributors and sales
representatives and these appointments will be announced once the terms are
agreed.

 

For further information contact:

 

CAP-XX Limited

Pat Elliott
(Chairman)
+61 (2) 9157 0000

Lars Stegmann (Chief Executive Officer)

 

Allenby Capital (Nominated Adviser and Joint Broker)

David Hart / Piers Shimwell (Corporate Finance)
 
                +44 (0) 20 3328 5656

Tony Quirke / Stefano Aquilino (Sales and Corporate Broking)

 

Cavendish Securities plc (Joint Broker)

Neil McDonald / Pearl Kellie
 
+44 (0) 13 1220 6939

 

Kreab (Financial PR)

Robert
Speed
+44 (0) 20 7074 1800

 

 

More information is available at www.cap-xx.com (http://www.cap-xx.com)

 

About CAP-XX

CAP-XX (LSE:CPX) is a world leader in the design and manufacture of ultra-thin
prismatic and compact cylindrical supercapacitors. Its prismatic
supercapacitors are manufactured in Australia and Malaysia and its cylindrical
supercapacitors are manufactured in China. The company's strong intellectual
property (IP) portfolio includes 11 patent families. CAP-XX's ultra-thin
prismatic supercapacitors are ideal for space-constrained electronics
applications where small energy storage device size and thickness are
important. The unique feature of CAP-XX supercapacitors is their very
high-power density and high-energy storage capacity in space-efficient thin
prismatic and compact cylindrical packages. For more information, visit
https://www.cap-xx.com/ (https://www.cap-xx.com/) or email sales@cap-xx.com
(mailto:sales@cap-xx.com) .

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDFLFLTLLLIVIV