Company Directory
Directors Audit Committee
Dr L M McIntyre - Chair Mr R A R Lee - Chair
Dr M P Goldsworthy - CEO/MD Dr L M McIntyre
Mr R A R Lee Mr C D Wilks
Mr C D Wilks
People & Remuneration Committee Company Secretary
Dr L M McIntyre - Chair Ms J E Ducie
Mr R A R Lee Mr C D Wilks
Registered Office and Principal Place of Business
Suite 8.01, Level 8
56 Clarence Street
Sydney NSW 2000, Australia
Postal address: PO Box 364, Sydney NSW 2001, Australia Phone: +61 2 9704 8888
Fax: +61 2 9704 8851
Email: investor.relations@silex.com.au Website: www.silex.com.au
Share Registry
Computershare Registry Services Pty Limited
Level 5, 115 Grenfell Street, Adelaide, South Australia 5000, Australia GPO Box 1903 Adelaide SA 5001, Australia
Enquiries within Australia: 1300 556 161
Enquiries outside Australia: +61 8 8236 2300 Email: web.queries@computershare.com.au Website: www.computershare.com.au
Stock Exchange
Listed on the Australian Stock Exchange, Ticker: SLX Listed on the OTCQX International, Ticker: SILXY
Auditors
PricewaterhouseCoopers
Solicitors
Baker & McKenzie
Bankers
Australia and New Zealand Banking Group Limited
American Depository Receipts (ADR) Information
Silex Systems Limited's ADRs may be purchased on the US OTCQX market. Details are as follows:
Ratio: 1 ADR = 5 ordinary shares Symbol: SILXY
CUSIP: 827046 10 3 9414F102
Exchange: OTCQX Country: Australia
IMPORTANT NOTICE:
Forward Looking Statements and Business Risks:
Silex Systems is a research and development Company whose primary asset is the SILEX laser uranium enrichment technology, originally developed at the Company's technology facility in Sydney, Australia. The SILEX technology, licensed exclusively to GE-Hitachi Global Laser Enrichment LLC (GLE) in the USA, is currently in the engineering development stage and plans for commercial deployment remain distant and high risk.
Silex also has an interest in a unique semiconductor technology known as 'cREO™' through its ownership of subsidiary Translucent Inc. The cREO™ technology is exclusively licensed to IQE Plc based in the UK. IQE is progressing the cREO™ technology towards commercial deployment in various advanced semiconductor products. The outcome of IQE's commercialisation program remains high risk.
The commercial potential of these two technologies is currently unknown. Accordingly, the statements in this announcement regarding the future of the SILEX technology, the cREO™ technology and any associated commercial prospects are forward looking and actual results could be materially different from those expressed or implied by such forward looking statements as a result of various risk factors.
Some risk factors that could affect future results and commercial prospects include, but are not limited to: the outcome of the GLE restructure which Silex is participating in, results from the SILEX uranium enrichment engineering development program being conducted jointly by the Company and GLE; the demand for natural uranium and enriched uranium; the time taken to develop the SILEX technology; results from IQE's commercialisation program and the demand for cREO™ products, the potential development of competing technologies; the potential for third party claims against the Company's ownership of Intellectual Property; the potential impact of government regulations or policies in the USA, Australia or elsewhere; and the outcomes of various commercialisation strategies undertaken by the Company and/or its Licensees GLE and IQE.
DIRECTORS' REPORT Silex Systems Limited Directors' Report 30 June 2016Your directors present their report on the consolidated entity consisting of Silex Systems Limited (Silex or the Company) and the entities it controlled at the end of, or during the year ended 30 June 2016.
-
Directors and Company secretary
The following persons were directors of Silex Systems Limited during the whole of the financial year and up to the date of this report:
Dr L M McIntyre - Chair Dr M P Goldsworthy
Mr R A R Lee Mr C D Wilks
Mr A M Stock was a director from the beginning of the financial year until his retirement on 31 August 2015.
The Company secretary is Ms J E Ducie BBus, CA, GAICD. Ms Ducie was appointed to the position of Company secretary in 2010. Before joining Silex, Ms Ducie held a senior finance position in the Construction industry in the Middle East and prior to that worked as a Senior Associate with a Chartered Accounting Practice.
-
Principal activities
During the year, the principal activity of the Company was the continued development and commercialisation of our core asset and foundation technology - the laser isotope separation process for uranium enrichment known as the SILEX technology. In addition, the Company's restructure announced on 30 June 2014 was finalised, resulting in the licensing of the Translucent Inc. cREO™ semiconductor technology and the sale of Solar Systems' assets. Both subsidiaries ceased operations during the year.
-
Dividend
No dividend payments were made during the year. No dividend has been recommended or declared by the Board.
- Review of operations and activities
Information on the operations and financial position of the consolidated entity and its business strategies and prospects is set out below and in section 8 'Likely developments and expected results of operations'.
Trading ResultsA summary of consolidated revenue and results is set out below:
2016 | 2015 | |
$ | $ | |
Revenue from continuing operations | 1,617,655 | 3,674,860 |
(Loss) before income tax expense | (4,700,759) | (2,284,993) |
Income tax expense | - | - |
Net (loss) from continuing operations | (4,700,759) | (2,284,993) |
Net profit/(loss) from discontinued operations | 1,303,871 | (33,659,803) |
Net (loss) for the year | (3,396,888) | (35,944,796) |
Net (loss) is attributable to: | ||
Owners of Silex Systems Limited | (3,396,888) | (35,944,796) |
4 | P a g e
Silex Systems Limited published this content on 22 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 September 2016 06:09:07 UTC.
Original documenthttp://www.silex.com.au/getattachment/614d0ff9-eed6-46a5-b021-70915530cf1d/8-SLX-Concise-Full-Year-Accounts-30-June-2016.pdf.aspx?ext=.pdf
Public permalinkhttp://www.publicnow.com/view/DF32486EC2D081E432DA6B8B1D6F70BC53D342D0