LEUVEN, BELGIUM--(Marketwire - Oct 10, 2012) - Option (EURONEXT: OPTI; OTC: OPNVY), a
global player in wireless connectivity, security and experience, today
announces
that the Board of Directors is looking at different options to strengthen
its
working capital via a cash injection of a minimum amount of 5 million euro
before year end, in order to secure the prospect of regaining profitability
and
sustainable growth in the near term.
The Company continues to be faced with the risks and uncertainties
described in
the interim financial report of the Board of Directors for the first six
months
of 2012. Since then, the cash position of the Company has been further
impacted
by the build-up of inventory and the longer sales cycles for the new
products.
Option continues to look at reducing its cost-base by further rightsizing
its
operations and focusing its sales and marketing efforts in a very dynamic
market
environment.
Option has been transforming its entire business since the beginning of
2011
towards end-to-end solutions for businesses and consumers, away from the
plain
vanilla products for mobile network operators.
The investments of the last 20 months have resulted in a new line of
products
and services focused on vertical markets such as automotive and wireless
security & surveillance. Today the Company announced yet another new
product,
CloudGate, aimed at the buoying M2M market in the US.
In order to address these different vertical markets, the Company wants to
develop its brand name, add and support sales channels in North-Americas,
China
and Europe and build up appropriate stock levels to support these channels.
The Company will also open an e-commerce shop by the end of October, in
time for
the traditionally end-of season buying period.
Option will provide more details about the financing round when specific
information is available.
ABOUT OPTION
Option is a global player in wireless connectivity, security and
experience.
Option enhances the performance, functionality and usability of wireless
communications through a portfolio of 3G, 4G HSPA/LTE and WLAN connectivity
solutions. The company works with mobile operators, OEMs, retailers and
enterprise customers to create compelling products that enable new
connected and
secure services. Option is headquartered in Belgium, with further R&D
facilities in Germany and an ISO 9001 production engineering and logistics
facility in Ireland. Option maintains offices in Europe, the US, Greater
China,
Japan and Australia. More at www.option.com
Copyright ©2012 OPTION. All rights reserved. All product and
company names
herein may be (registered) trademarks or trade names.
Financial notification:
http://hugin.info/133962/R/1647882/531276.pdf
Financiële kennisgeving:
http://hugin.info/133962/R/1647882/531277.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Option via Thomson Reuters ONE
[HUG#1647882]