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TC TECH Sweden AB (publ) publishes its Summarized Financial Statements

TC TECH has today published its summarized financial statement report for the period January 1 to December 30, 2019

Net sales amounted to 4 358 (48) TSEK in the fourth quarter of 2019. Net profit/loss totalled -6 007 (-10 326) TSEK in the fourth quarter of the year. Cash flow from operating activities was -3 991 (-13 500) TSEK in the period from October 1[st][ ]to December 31[st] 2019. Net sales amounted to 14 193 (48) TSEK in the full year of 2019, while Net profit/loss totalled -27 640 (-32 365) TSEK in the full year 2019. Cash flow from operating activities was -22 181 (-26 498) TSEK in the full year 2019. Developments in the fourth quarter of 2019   · TC TECH Sweden AB (publ) has in October made a directed equity issue of 1 412 700 shares, based on the authorization granted by the AGM held on May 9th 2019. As a result of this resolution, the company’s share capital increased by SEK 113 016 and liquid funds by around SEK 19 million.   Developments after year-end 2019 · TC TECH Sweden AB (publ) announced that the company has received an order for an evaluation project of LGPs from a German sub-supplier in the automotive industry. This is TC TECH’s first inroad into the automotive industry.

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TC TECH receives evaluation project from a German company in the automotive industry

TC TECH Sweden AB (publ) announces that the company has received an order for an evaluation project of LGPs from a German sub-supplier in the automotive industry. This is TC TECH’s first inroad into the automotive industry.

The order clearly shows that the interest in TC TECH’s technology is now starting to increase in other segments in addition to manufacturing of LCD displays for mobile phones, tablets and laptops. “This is our first project for a customer in the automotive industry, for which we will receive a payment of 105 TSEK. If these tests turn out well, they could lead to equipment orders in this segment. This shows that our offering has an exciting potential in a global sector where advanced technology is becoming increasingly important,” says TC TECH’s CEO Alexander Luiga. The test series of LGPs for the customer’s evaluation project will be conducted in TC TECH’s cleanroom in the company’s facilities in Stockholm.

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TC TECH Sweden AB (publ) publishes its Interim Report as of September 30th, 2019

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

Net sales amounted to 4 717 (0) TSEK in the third quarter of 2019. In the same period, net profit/loss totalled -6 261 (-6 817) TSEK. Cash flow from operating activities was -2 243 (-1 789) TSEK in the third quarter of 2019. Net sales amounted to 9 835 (0) TSEK in the first nine month of 2019, while net profit/loss totalled -21 633 (-22 039) TSEK. Cash flow from operating activities was -18 190 (-12 999) TSEK in the period from January 1st to September 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.  ·  TC TECH Sweden AB (publ) announced 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, and in accordance with the letter of intent previously communicated. The order was received through their Chinese distributor QJ-TEC.   Developments after September 30th, 2019 ·  TC TECH Sweden AB (publ) has in October made a directed equity issue of 1 412 700 shares, based on the authorization granted by the AGM held on May 9th 2019. As a result of this resolution, the company’s share capital increased by SEK 113 016 and liquid funds by around SEK 19 million. 

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TC TECH receives 19 MSEK from directed share issue

The board of directors of TC TECH Sweden AB (publ) has decided to conduct a directed share issue of 1 412 700 shares in accordance with the authorization granted from the company’s annual general meeting on May 9, 2019. The share issue will increase the company’s share capital with 113 016 SEK, while the company receives approx. 19 MSEK in cash.

The largest subscribers of shares in the directed share issue are three companies in the Swedish insurance company group Länsförsäkringar, known for their strong focus on commitment and long-term ownership. The remaining shares were subscribed by legal and physical persons who are expected to become long-term partners of the company. The subscription price has been set to 13.45 SEK per share based on the closing share price on October 23, 2019. The share issue constitutes a deviation from the shareholders' preferential rights. The purpose is to secure additional working and development capital for the company, at the same time as several new and financially strong owners joins the company. “The fact that renown owners such as companies in the Länsförsäkringar group has chosen to invest in TC TECH is another important validation of our technology and TC TECH’s potential,” says Peter Mattisson, chairman of the board, in a comment.

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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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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/