23rd Oct 2014 13:00
CAP-XX Limited
("CAP-XX" or the "Company")
Result of Annual General Meeting
The Board of CAP-XX announces that all resolutions put to shareholders at the Company's Annual General Meeting held earlier today were duly passed.
The Company also provided the following update to the current operating performance:
· In early October, the Company received the latest instalment of the Federal Government's R&D Tax rebate
· Realisation of the operational cost savings are nearing completion, with the achieved quantum of savings in line with the Company's forward estimates. Accordingly, the cash burn rate is decreasing
· Large prismatic cell for both the automotive and battery replacement markets continues to generate interest from multiple vehicle manufacturers and their Tier-1 component suppliers
· Product Sales are running at a higher rate than the same period last year
· Cash balance after the receipt of the R&D rebate was A$1.5m
For further information please contact:
| CAP-XX Limited
Anthony Kongats (Chief Executive Officer) |
+61 (0) 2 9428 0139 |
| Cenkos SecuritiesStephen Keys/Callum Davidson (Corporate Finance) |
+44 (0) 20 7397 8900 |
| Kreab Gavin Anderson & Company Robert Speed (Financial PR)
|
+44 (0) 20 7074 1800 |