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10May, 2019

Press release from TC TECH Sweden AB’s 2019 Annual General Meeting

TC TECH Sweden AB’s annual general meeting was held on 9 May 2019, at NetPort in Karlshamn, Sweden. 54,3% of all issued shares were represented at the AGM.

The AGM approved the income statement and the balance sheet for the company for the fiscal year 2018, and discharged the members of the Board and the CEO from liability for the fiscal year 2018.

Further, in accordance with the proposal submitted by the Nomination Committee, the AGM resolved that the Board of Directors shall consist of five ordinary Board members without deputy members. The Board was re-elected in its entirety, and will thus consist of the following members up to the AGM 2020: Peter Mattisson (Chairman of the Board), Per-Anders Johansson, Cecilia Jinert Johansson, Jörgen Brandt and Sven Löfquist.

In according with the Nominating Committee’s proposal, the AGM resolved that the total fees paid to the Board, shall be 425 000 SEK, of which 125,000 shall be paid to the Chairman and SEK 75,000 shall be paid to each of those Board members elected by the AGM who are not employed by the company.

It was unanimously resolved to authorize the Board to make a resolution to issue new shares. A maximum of 1,750,000 new shares may thus be issued in the period up to the AGM in 2020. Such share issue can be made with or without deviation from the current shareholders’ preferential rights. The share price shall be based on the market price at the time of the issue, with or without consideration taken to any possible market discount.

The AGM unanimously resolved to approve a directed issue of a maximum of 250,000 warrants, with the right to subscribe for new shares in the Company. The right to subscribe for the warrants will be added, with deviation from the shareholders’ preferential rights, CIMON Enterprise AB, 556545-6844, with the right and obligation to transfer the warrants to the Company. Oversubscription cannot occur. The warrants shall be issued free of charge. The warrants shall thereafter be transferred to key employees of the Company.

25Apr, 2019

TC TECH has published its interim report

TC TECH has today published its interim report for the period to March 31, 2019.

In the first quarter of 2019, net sales amounted to 864 (0) TSEK, net profit/loss to  -8 534 (-7 665) TSEK and cash flow from operating activities to -6 676 (-5 045) TSEK.

TC TECH Sweden AB (publ) has received an order for three production systems for volume manufacturing of high-performing LGPs to an existing customer in Taiwan. The customer is an LGP manufacturer in the premium segment and delivers components to LCD displays in sizes suitable for mobile phones, tablets and laptops.

Developments after March 31st, 2019

TC TECH Sweden AB (publ) announces that the company has received an order for one production system for high-performing LGPs for LCD displays from a leading LGP manufacturer based in Taiwan. The customer delivers LGPs for laptops and tablets from globally recognized brands.

1Apr, 2019

TC TECH receives order for one production system from leading Asian LGP manufacturer for laptops and tablets

TC TECH Sweden AB (publ) announces that the company has received an order for one production system for high-performing LGPs for LCD displays from a leading LGP manufacturer based in Taiwan. The customer delivers LGPs for laptops and tablets from globally recognized brands.

The order is TC TECH’s first from a customer with a strong focus on LGPs for LCD displays in larger sizes than mobile phone displays. The customer conducts significant research and development in LCD display solutions, and has well-established relations with premium manufacturers of laptops and tablets.

“With this order, we are able to initiate a commercial relation with a leading customer in a key segment for our technology platform. It will be really exciting to see how they will utilize the advantages of our LGPs,” says TC TECH’s CEO Alexander Luiga.

LGPs manufactured with the use of TC TECH’s technology platform are ideally suited to integrate into LCD displays for laptops and tablets in the premium segment. End customers who purchase these products want the advantages that the technology offers, such as thinner products, lower energy consumption and improved image quality.

2Jan, 2019

TC TECH receives order for three additional production systems to existing customer in Taiwan

TC TECH Sweden AB (publ) has received an order for three production systems for volume manufacturing of high-performing LGPs to an existing customer in Taiwan. The customer is an LGP manufacturer in the premium segment and delivers components to LCD displays in sizes suitable for mobile phones, tablets and laptops.

The three systems will be delivered in 2019. They are all of TC TECH’s TCP-150 model with roll-to-sheet feeding (RtS).

“This is our largest order to date, adding further proof that our technology will be included in upcoming generations of mobile phones, tablets and laptops,” says TC TECH’s CEO Alexander Luiga.

Luiga also highlights the fierce competition between companies in the production chain for LCD displays, as well as between companies creating mobile phones and laptops. This makes the industry open to technological advancements in areas where TC TECH is well positioned.

TC TECH is also anticipating an order from a customer in China that has signed a letter of intent to order one production system no later than the end of 2018, as announced in a previous press release. This letter of intent has now been extended to the end of Q1 2019 following a request from the customer.

29Oct, 2018

TC TECH receives letter of intent from Chinese LGP manufacturer to order a production system before the end of the year

TC TECH Sweden AB (publ) announces that the company has received a letter of intent (LOI) from a Chinese manufacturer of premium quality LGPs for LCD displays to order a TCP 150 system with roll-to-sheet feeding (RtS) before the end of the year.

The LOI shortens the delivery time as the production of the TCP 150 system is initiated before the actual order can be confirmed internally by the customer and sent to TC TECH.

The customer produces LGPs in the premium segment and delivers to Chinese as well as international LCD display manufacturers.

“This LOI is important for TC TECH as we will now be able to install our technology also in China, one of the world’s largest markets for LGP manufacturing. As the customer works with several large LCD display manufacturers, they are in an excellent position to get our technology into future models in product categories such as mobile phones, tablets and laptops,” says TC TECH’s CEO Alexander Luiga.

11Oct, 2018

TC TECH receives order for a second production system from customer in Taiwan

TC TECH Sweden AB (publ) announces that the company has signed an agreement with a customer in Taiwan to deliver a second TCP-150 system, including Roll-to-Sheet (RtS) functionality, for production of High Performance LGPs used in LCD displays. The delivery is expected to begin in December 2018 and will be visible in the interim report for Q1 2019, at the latest.

The company has previously announced the customer’s intent to sign an agreement for the delivery of a second system after final approval of the first delivery.

“The fact that the customer has decided to move forward with the second delivery almost immediately after having approved the first system show that there is a substantial demand in the market to be able to manufacture LGPs with the market leading quality that the TCP 150 delivers. It also proves that we have succeeded in building a strong customer confidence in our ability during the testing and adjustment phase, as well as that our system has reached an industrial level of quality,” says TC TECH’s CEO Alexander Luiga.

The company is now shifting its main focus from substantial development work to more marketing activities, including intensified application development and additional production of samples as well as demonstrations of the TCP 150 system for potential customers.

8Oct, 2018

TC TECH receives final approval from customer in Taiwan

TC TECH Sweden AB (publ) announces that the company has received final approval of the production system for high-volume manufacturing of High Performance LGPs for LCD displays that was delivered to a customer in Taiwan in July. This is an important milestone for the company as it now has a fully approved product in Asia for mass production of ultra-thin plastic products with nanostructure patterns.

The customer that has approved the production system is an Asian company within development and production of components for major manufacturers of LCD displays.

“TC TECH now takes an important step forward, from being a development company with a strong technology platform to also being a supplier of a market leading product that is used commercially for industrial high-volume manufacturing. We awaited this final approval, that was preceded by rigorous long-term testing, and commercial manufacturing in increasing volumes at the customer’s production facility before we start offering the system to additional customers. Now that we have achieved this, we are starting up our sales activities at full speed, and we see excellent possibilities to convert ongoing discussions with existing and potential customers to new orders already in 2018,” says TC TECH’s CEO Alexander Luiga.

TC TECH’s production system for the manufacturing of ultra-thin, High Performance LGPs (Light Guide Plates) used in LCD displays makes it possible to create LCD displays that are thinner and has an improved picture quality while also consuming less energy. The competition between manufacturers of LCD displays, and from manufacturers of OLED displays, has created a very strong interest in TC TECH’s production system and technology from companies at different stages of the production chain aiming to take LCD displays to the next level.

9Jul, 2018

TC TECH delivers the first unit of its upgraded production system to Taiwan

TC TECH Sweden AB (publ) announces that the company is delivering an upgraded production system for volume production of LGPs for displays to a Taiwanese customer after successfully completed tests in the company’s facilities in Stockholm. The installation in Taiwan is expected to be completed in July.

The upgraded production system will replace a previously delivered system, as communicated in the press release published on February 7, 2018.

The tests of the upgraded production system were conducted on behalf of the client in TC TECHs cleanroom in the company’s facilities in Stockholm. The cleanroom was installed in the spring and has made it possible to test the system in demanding industrial conditions. The company has thus been able to prepare and fine-tune the product before commencing the delivery process.

“The successful completion of these tests confirm that the upgraded version of our production system is robust and capable of manufacturing high-quality LGPs. We will now complete the delivery and installation of the system in July,” says TC TECH’s CEO Alexander Luiga.

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