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AIM WINNERS & LOSERS: CAP-XX patents ruled invalid in US litigation

Mon, 18th Dec 2023 11:13

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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AIM - WINNERS

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Eden Research PLC, up 21% at 4.95 pence, 12-month range 3p-12.16p. The company focused on sustainable biopesticides and plastic-free formulation technology, alongside Corteva Agriscience, announces a temporary regulatory approval in Italy for Ecovelex. The product is approved for use as a bird repellent seed treatment in corn for the 2024 growing season. Adds it has submitted regulatory dossier and application to Austria, which will act as "interzonal rapporteur member state" for the EU. The review and authorisation can take between 18 and 24 months.

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AIM - LOSERS

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CAP-XX Ltd, down 56% at 0.75p, 12-month range 0.55p-4.7p. The Sydney-based supercapacitor and energy management system manufacturer provides an update on its patent infringement action against Maxwell Technologies Inc, now a subsidiary of US electric vehicle maker Tesla Inc. Says US District Court of Delaware affirms CAP-XX patents were invalid, and therefore Maxwell has not infringed them, and is therefore not liable to pay damages nor license fees. "Whilst CAP-XX is disappointed with this decision, it is in discussions with its attorneys to agree the appropriate next steps," the firm says.

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RBG Holdings PLC, down 32% at 11.15p, 12-month range 10p-71.97p. The legal and professional services firm warns the expected improvement in trading in its Legal Services division has not materialised over the second half, with trading broadly in line with the first. In particular, Memery Crystal has been hit by the lack of activity in commercial real estate and equity capital markets, as transactions forecast for the fourth quarter have been delayed or cancelled. Now expects annual revenue in 2023 to be below market expectations at around GBP41.9 million, falling year-on-year from GBP49.8 million. Adjusted earnings before interest, tax, depreciation and amortisation are expected to drop sharply to around GBP4.0 million from GBP15.8 million. "The board recognises that 2023 has been a year of significant transition and a disappointing one for shareholders. Nonetheless, the board is confident that the business is moving into 2024 on a significantly stronger footing than at the start of this year," says Non-Executive Chair Marianne Ismail. Even so, Ismail guides for revenue and profit to be only "slightly higher" in 2024.

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By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
13 Mar 2024 17:05

REPEAT: LONDON MARKET CLOSE: FTSE 100 in green as UK economy rebounds

(Correcting error in article lede.)

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13 Mar 2024 16:54

LONDON MARKET CLOSE: FTSE 100 in green as UK economy rebounds

(Alliance News) - can you change lede to: European stocks closed mostly higher on Wednesday, with the FTSE 100 driven higher by hopes that the UK recession is already over.

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13 Mar 2024 11:35

Cap-XX shares plummet 80% amid "highly constrained financial position"

(Alliance News) - Cap-XX Ltd shares plummeted on Wednesday, after it said its working capital position has "continued to deteriorate".

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13 Mar 2024 11:12

AIM WINNERS & LOSERS: Woodbois rises as plots Mozambique exit

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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12 Mar 2024 14:26

Cap-XX CFO Mike Taylor retires after 16 years in role

(Alliance News) - Cap-XX Ltd on Tuesday announced its Chief Financial Officer Mike Taylor has decided to retire after 16 years in the role, and will officially depart the company on Friday.

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12 Mar 2024 12:38

CAP-XX chief financial officer to retire

(Sharecast News) - Supercapacitors manufacturer CAP-XX revealed on Tuesday that chief financial officer Mike Taylor had decided to retire from the role and will be leaving the group on 15 March.

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28 Feb 2024 14:21

Cap-XX shares rise on developments in Maxwell Technologies ligation

(Alliance News) - Cap-XX Ltd shares rose on Wednesday, amid developments in ligation with Maxwell Technologies Inc.

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28 Feb 2024 10:50

AIM WINNERS & LOSERS: Image Scan falls on slower start to 2024

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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19 Feb 2024 15:47

IN BRIEF: Cap-XX withdraws appeal on patent infringment case in US

Cap-XX Ltd - Sydney-based manufacturer of supercapacitors for portable electronic devices - Directors decide to take no further action with an appeal made, after the Delaware District Court, US ruled in favour of Maxwell Technologies Inc in a patent infringement case. It initially made the appeal in late January, but has now opted to drop the appeal. Says: "The decision follows the conclusion of a case review by CAP-XX with its lawyers, which considered the legal fees to present the appeal and the probability of success."

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19 Feb 2024 12:12

CAP-XX chooses not to pursue Maxwell case appeal

(Sharecast News) - Supercapacitor design and energy management specialist CAP-XX updated the market on Monday, following the Delaware District Court's ruling on 29 January favouring Maxwell Technologies in a patent infringement lawsuit initiated by CAP-XX.

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1 Feb 2024 12:00

CAP-XX shares plunge as loss widens on higher costs; revenue jumps

(Alliance News) - Cap-XX Ltd on Thursday said higher administratice and legal expenses drove its half year loss to widen, despite a revenue climb.

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1 Feb 2024 10:31

AIM WINNERS & LOSERS: Bushveld jumps as refinances loan with OMF Fund

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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29 Jan 2024 13:55

IN BRIEF: Cap-XX files notice of appeal regarding patent infringement

Cap-XX Ltd - Sydney-based manufacturer of supercapacitors for portable electronic devices -Files a notice of appeal to the Federal Circuit Court of Appeals following the Delaware District Court judgment in favour of Maxwell Technologies Inc. Says the appeal process is at a preliminary stage and there can be no certainty as to the timing of the appeal process or whether the appeal will be heard by the Federal Circuit Court of Appeals.

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10 Jan 2024 10:58

IN BRIEF: Cap-XX says court verdict won't harm portfolio, shares rise

Cap-XX Ltd - Sydney-based manufacturer of supercapacitors for portable electronic devices - Says it is "disappointed" but "evaluating all options", including taking case to Federal Circuit Court of Appeals, after Delaware District Court in late December favoured Maxwell Technologies Inc in a patent infringement case. Company concludes, following a review of its patent portfolio, that the Delaware judgement does not affect said portfolio's integrity, or the integrity and enforceability of current licensing deals. Patents made invalid in the Delaware judgement expired in December 2019, company having first accused Maxwell of infringement in 2017.

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21 Dec 2023 15:43

CAP-XX reports positive first-half trading

(Sharecast News) - Supercapacitor and energy management system design and manufacturing specialist CAP-XX issued a positive trading update for its first half on Thursday.

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