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TC TECH receives order for one production system from a Chinese LGP manufacturer for laptops and tablets

TC TECH Sweden AB (publ) announces that the company has received an order for one production system used for manufacturing of high-performing LGPs for LCD displays from Nicrotek Co., Ltd, a Chinese LGP manufacturer who is a part of the SVG Optronics Tech Group. The order was received in accordance with a letter of intent earlier announced.

The customer is focusing on LGPs in the premium segment for Chinese as well as international manufacturers of LCD displays. This means that the customer has great opportunities to include TC TECH’s technology in upcoming laptops and tablets from well-known brands. “This will be our first delivery to an LGP manufacturer in China, and we are thus able to establish our technology in another important Asian market. This customer is also in an excellent position to benefit from the advantages of our technology, which increases the probability of additional orders if the first system works well,” says TC TECH’s CEO Alexander Luiga. The delivery of the production system is expected to take place in the fourth quarter of 2019. LGPs manufactured using TC TECH’s technology platform are ideally suited to be integrated into LCD displays for laptops and tablets in the premium segment. End customers who purchase these products will benefit from the advantages of the technology, such as thinner products, lower energy consumption and improved image quality.

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TC TECH Sweden AB (publ) publishes its interimreport as of June 30th, 2019

TC TECH has today published its interim report for the period January 1 to June 30, 2019. 

Net sales amounted to 4 254 (0) TSEK in the second quarter of 2019. In the same period, net profit/loss totalled -6 838 (-7 557) TSEK. Cash flow from operating activities was -9 270 (-6 164) TSEK in the second quarter of 2019.  Net sales amounted to 5 118 (0) TSEK in the first half of 2019, while net profit/loss totalled -15 372 (-15 222) TSEK. Cash flow from operating activities was -15 947 (-11 210) TSEK in the period from 1 January to 30 June 2019.  · TC TECH Sweden AB (publ) announced 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. Developments after June 30th, 2019 · TC TECH Sweden AB (publ) announced that the company has received final approval of a production system for high-performing LGPs used in LCD displays from a Taiwan-based customer. The system has been delivered and installed at the customer’s facilities during the summer. 

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TC TECH receives final approval from Asian manufacturer of LGPs for laptops and tablets

TC TECH Sweden AB (publ) announces that the company has received final approval of a production system for high-performing LGPs used in LCD displays from a Taiwan-based customer. The system has been delivered and installed at the customer’s facilities during the spring.

The order was announced in a press release on April 1, 2019. Delivery, installation and now final approval of the system have subsequently been achieved according to plan. “As we have stated earlier, this customer has a strong focus on R&D and production of LGPs for tablets and laptops in the premium segment, which is a very promising segment for our technology,” says TC TECH’s CEO Alexander Luiga. Since late 2018, TC TECH has dedicated substantial resources to create a more robust and effective manufacturing and delivery chain. The company is now starting to see positive results from these efforts. “In addition to a competitive product, we are now able to offer a more predictable delivery process with shorter lead times and better scalability. This is an important step forward for TC TECH which makes us more attractive in current and future negotiations,” says Alexander Luiga.

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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.

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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.

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IR contact

Tommy Nee
CFO
Tel: +46(0)706 19 57 63
E-mail: tommy.nee@tctech.se

Certified Adviser

TC TECH has appointed Arctic Securities AS as its Certified Adviser.

Arctic Securities AS, Sweden bransch
Biblioteksgatan 8
SE-111 46 STOCKHOLM
Tel: +46(0)8 446 860 80
Web: arctic.com/secse/en

IR-kontakt

Tommy Nee
CFO
Tel: +46(0)706 19 57 63
E-mail: tommy.nee@tctech.se

Certified Adviser

Bolaget har utsett Arctic Securities AS, filial Sverige till Certified Adviser.

Arctic Securities AS, filial Sverige
Biblioteksgatan 8
111 46 STOCKHOLM
Tel: +46(0)8 446 860 80
Web: www.arctic.com/secse/