Update & Notice of Results

RNS Number : 9510N

CAP-XX Limited

04 October 2012

 



CAP-XX Limited

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

Update

On 3 August 2012, the Company provided a further update and announced that it was still attempting to finalise the subscription of 1,700,000 ordinary shares by a Chinese automotive component company which was part of a placing of 10,945,333 ordinary shares announced on 12 March 2012, but there was no certainty that the subscription would be completed.

Despite extensive discussions with the party involved, including the efforts of a number of other parties and advisers including the Australian Trade Commission, the Board of CAP-XX have concluded that the necessary Chinese Government approvals will not be received and therefore that there is no realistic prospect that the subscription funds will be forthcoming.

As at 30 September, 2012, the Company has AUD $3.0 m of cash reserves. The audited results for the year ended 30 June 2012 will be published on 9th October 2012.

Further to the announcement of 30 March 2012, CAP-XX's issued share capital remains at 86,277,430 Ordinary Shares.

For further information, please contact

CAP-XX Limited Anthony Kongats, Chief Executive Officer	[phone]
Seymour Pierce Ltd Rick Thompson/Catherine Leftley (Nominated Adviser) David Banks/Paul Jewell (Corporate Broking)	[phone]
Kreab Gavin Anderson & Company (Financial PR) Robert Speed, Deborah Walter, Anthony Hughes	[phone]

 

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