Dissemination of a Regulatory
Announcement that contains inside information for the purposes of Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310.
28
February 2024
CAP-XX
Limited
("CAP-XX" or the
"Company")
Update on litigation and
trading
Further to the Company's
announcement on 19 February 2024, CAP-XX
Limited ('the Company'), a world leader in the design and
manufacture of supercapacitors and energy management systems,
provides the following update.
Following the Company's decision to
take no further action with the appeal made to the Federal Circuit
Court of Appeals, Maxwell has applied to the Court for an extension
of time to lodge an application for a claim of costs against
CAP-XX. This claim will be for court-related costs only and will
not include attorney nor expert witness expenses. This filing was
procedural and does not substantively impact CAP-XX and only came
to the attention of the Çompany and Board in the latter part of
last week. Although the claim is expected to be minor in relation
to the total Maxwell legal expenditure incurred, CAP-XX is in
negotiations to ensure that this issue and all litigation matters
with Maxwell/Tesla are resolved in a cost-effective manner and as
soon as possible.
Current orders outstanding continue
to increase and currently total US$1.3m of which US$0.8m is
expected to be shipped in the current FY24 financial year. The
Board is pleased with this level of business activity as existing
and new customers are placing orders in what has historically
been a slow period for order intake and is further evidence
that the initiatives announced by CAP-XX focused on increasing
sales and marketing activities are beginning to reap
rewards.
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
Notes to Editors:
CAP-XX (LSE: CPX) is a leader in the
design and manufacture of thin, flat supercapacitors and energy
management systems used in portable and small-scale electronic
devices, and to an increasing extent, 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