Proceeds slated for development of supercapacitor products, working capital
By Melissa Kory
Cleveland, May 24 - CAP-XX Ltd. announced that Seymour Pierce Ltd. placed 9,072,813 new ordinary shares for £1.45 million.
The shares will be sold at 16p, a 3.03% discount from the May 23 closing price of 16.5p.
The placing is conditional upon admission to trading on AIM. Application will be made pursuant to the placing, and it is anticipated that admission will become effective and dealings will commence on June 1.
The shares will rank equally in all respects with the existing ordinary shares and will represent approximately 11.8% of the entire issued share capital of the company.
Following the placing, the company will have 77,032,097 ordinary shares in issue.
The proceeds of the placing are to be used for the development of supercapacitor products and working capital.
CAP-XX is a Lane Cove, New South Wales, Australia, designer and manufacturer of thin-form supercapacitors and energy management systems.
| Issuer: | CAP-XX Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £1,451,650
|
| Shares: | 9,072,813
|
| Price: | 16p
|
| Warrants: | No
|
| Agent: | Seymour Pierce Ltd.
|
| Announcement date: | May 24
|
| Stock symbol: | London: CPX
|
| Stock price: | 16.5p at close May 23
|
| Market capitalization: | £11.55 million
|
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