Option : Option financial notification

                    Option : Option financial notification




Regulated information

LEUVEN, Belgium - January 24, 2013 - 07.00 - Option (EURONEXT Brussels:  OPTI; 
OTC:  OPNVY),  a  global  leader   in  wireless  connectivity,  security   and 
experience, today announces that the Board of Directors has revised its  plans 
with regards  to  the  strengthening  of the  Company's  working  capital.  As 
previously announced in the financial notification issued on October 10, 2012,
the Company is looking to raise cash in order to secure its going concern. In
addition, the Company continued to be focused on the further reduction of  its 
costs basis and on  the diversification of the  sales- and marketing  efforts. 
The actions taken in the  last quarter of 2012  have contributed to lower  the 
cash burn  resulting in  a cash  position of  3,2 million  EUR by  the end  of 
December 2012.

Following discussions with interested parties  the Board has decided to  raise 
the amount of  the investment  to minimum  9 million EUR  via the  issue of  a 
convertible bond.  The  combination  of such  investment  with  further  cost 
reductions and  the projected  sales  of the  new  products should  allow  the 
Company to return to profitability towards the end of 2013.

A number of parties, including Jan Callewaert, founder and CEO of the Company,
have expressed their intention  to participate in the  transaction. It is  the 
Boards' expectation that the  transaction will be  concluded during the  first 
quarter of 2013.  More details about  the transaction will  be described in  a 
report of the Board of Directors drafted in accordance with section 583 of the
Code of Companies. This report will be made available at a later stage.

In addition, the Company came to an agreement with Mondo NV, controlled by Jan
Callewaert, on a mid term  loan facility up to a  maximum amount of 5  million 
EUR, in order to  bridge potential cash requirements  until the completion  of 
the transaction.

Option will provide more details on the financing efforts as soon as  specific 
information is available.

  Media Contact

Jan Callewaert, Founder and CEO
Jan Smits, CFO
Gaston Geenslaan 14
B-3001 Leuven, Belgium
Tel: +32 (0) 16 31 74 11
Fax: +32 (0) 16 31 74 90
E-mail: investor@option.com

ABOUT OPTION
Option, the wireless technology company, is a leading innovator in the design,
development  and  manufacture  of  3G  HSUPA,  HSDPA,  UMTS,  EDGE,  and  WLAN 
technology  products   for  wireless   connectivity  solutions.   Option   has 
established an  impressive  reputation  for creating  exciting  products  that 
enhance the performance and  functionality of wireless communications.  Option 
is  headquartered  in  Leuven,  Belgium.  The  company  also  has  Research  & 
Development in Belgium (Leuven), Germany (Augsburg) and an ISO 9001 production
engineering and logistics facility in Ireland (Cork). Option maintains offices
in Europe, US,  Greater China  and Japan.  For more  information please  visit 
www.option.com.

Copyright ©2013 OPTION.  All rights  reserved. All product  and company  names 
herein may be(registered) trademarksor trade names.

Option financial notification
Option financiële kennisgeving

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Source: Option via Thomson Reuters ONE
HUG#1672639
 
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