CPX Off topic13 Mar 2024 13:29
Interesting RNS issued for CPX today which is currently down 81.80% for the day.
It always amazes me that some Boards of AIM Companies make comments such as those shown below which are in today's RNS:
CAP-XX, a world leader in the design and manufacture of supercapacitors and energy management systems, provides the following update in relation to its working capital position.
The key words are "World leader!"
They then follow that up with the following statement which includes the key words "The Board would have no option but to place the Company into administration"
"There is no guarantee that an equity financing will be achievable and, in the absence of any additional financing being available, the Board would have to take steps to preserve and maximise value for its creditors and should the Company fail to achieve a solution in the short term, the Board would have no option but to place the Company into administration. In this eventuality, it is not known how much, if any, value would be returned to shareholders."
You just have to love the AIM Market as some CEO's make statements and comments that bare no resemblance to reality!
Let's see what the CEO of AMC has to say about this great RTO!
AGE