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Press release from TC TECH Sweden AB’s 2021 Annual General Meeting

TC TECH Sweden AB’s Annual General Meeting was held today, May 20, 2021. The AGM was conducted without the shareholders' personal presence in accordance with the notice. The shareholders have exercised their voting rights through postal voting before the meeting. Through notification and a postal vote before the meeting, 47,5% 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 2020, furthermore, the Board of Directors' proposal for appropriation of the company's results was adopted and discharged the members of the Board and the CEO from liability for the fiscal year 2020. 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 will concist of the following members up to the AGM 2022: Peter Mattisson (Chairman of the Board), Per-Anders Johansson, Cecilia Jinert Johansson, Anders Jemail and Magnus Lindvall. For the same period, the Meeting elected Niclas Nordström, at the audit firm BDO Mälardalen AB, as auditor in charge. 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 1,900,000 new shares may thus be issued in the period up to the AGM in 2022. 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.

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TC TECH Sweden AB (publ) publishes its interim report

TC TECH has today published its interim report for the period January 1 to March 31, 2021. 

Net sales amounted to 0 (105) TSEK in the first quarter of 2021. In the same period, net profit/loss totalled -4 100 (-7 407) TSEK. Cash flow from operating activities was  -3 803 (-7 342) TSEK in the period from January 1[st] to March 31[st] 2021.  Developments in the first quarter of 2021 TC TECH Sweden AB (publ) announced that the company’s board of directors has resolved that the company is to establish a subsidiary in Taiwan. This subsidiary will include market and sales resources, as well as a test and evaluation centre with a production system in a cleanroom environment. The establishment includes permanent on-site placement of personnel.

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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 31, 2020. 

Net sales amounted to 2 (4 358) TSEK in the fourth quarter of 2020. In the same period, net profit/loss totalled -3 182 (-6 007) TSEK. Cash flow from operating activities was -1 487 (-3 991) TSEK in the period from October 1[st] to December 31[st] 2020.  Net sales amounted to 107 (14 193) TSEK in the full year of 2020, while net profit/loss totalled -20 763 (-27 640) TSEK. Cash flow from operating activities was -14 940 (-22 181) TSEK in the period from January 1[st] to December 31[st] 2020.  Developments in the fourth quarter of 2020 TC TECH Sweden AB (publ) has conducted a directed share issue of 1 540 000 shares based on the authorization granted from the company’s annual general meeting on May 14, 2020. The share issue increased the company’s share capital with 123 200 SEK, while the company received 10,6 MSEK in cash. Developments after year-end 2020 TC TECH Sweden AB (publ) announced that the company’s board of directors has resolved that the company is to establish a subsidiary in Taiwan. This subsidiary will include market and sales resources, as well as a test and evaluation centre with a production system in a cleanroom environment. The establishment includes permanent on-site placement of personnel.

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TC TECH announces that the company will establish a subsidiary in Taiwan

TC TECH Sweden AB (publ) announces that the company’s board of directors today has resolved that the company is to establish a subsidiary in Taiwan. This subsidiary will include market and sales resources, as well as a test and evaluation centre with production system in a cleanroom environment. The establishment includes permanent on-site placement of personnel.

This establishment of a subsidiary is conducted in accordance with TC TECH’s clearly stated ambition to scale up the company’s market and sales operations in its most important market. The financing is secured, as TC TECH recently conducted a directed share issue from which the company received approx. 10.6 MSEK in cash. ”This establishment of a permanent presence and testing capacity will enable us to come much closer to our existing and potential customers in Asia. It will also significantly reduce our lead times within testing and evaluation, while also enabling potential customers direct access to our system on a whole new level. This is expected to contribute to more efficient sales processes, including in innovative areas where development is progressing rapidly, such as the segment for diffusers (light-spreaders) to mini-LED based displays,” says TC TECH’s CEO Alexander Luiga.

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TC TECH Sweden AB (publ) publishes its interim report as of September 30th, 2020

TC TECH has today published its interim report for the period January 1 to September 30, 2020. 

Net sales amounted to 0 (4 717) TSEK in the third quarter of 2020. In the same period, net profit/loss totalled -4 925 (-6 261) TSEK. Cash flow from operating activities was -3 125 (-2 243) TSEK in the third quarter of 2020.  Net sales amounted to 105 (9 835) TSEK in the first nine months of 2020, while net profit/loss totalled -17 581 (-21 633) TSEK. Cash flow from operating activities was -13 453 (-18 190) TSEK in the period from January 1st to September 30th 2020.  Developments in the third quarter of 2020 The company has still very limited possibilities to physically meet with customers and potential customers due to the Covid-19 pandemic. Instead, digital meetings are being frequently used. Testing activities for customers in Asia at TC TECH’s facility in Spånga are however ongoing. Other business operations are also, for the most part, continuing as planned with the exception of the mentioned limitations regarding marketing activities. Developments after September 30th, 2020 The board of directors of TC TECH Sweden AB (publ) announced their decision to conduct a directed share issue of maximum 1 540 000 shares in accordance with the authorization granted from the company’s annual general meeting on May 14, 2020. The share issue will increase the company’s share capital with maximum 123 200 SEK, while the company receives approx. 10,6 MSEK in cash.

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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
Regeringsgatan 38
SE-111 56 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
Regeringsgatan 38
111 56 STOCKHOLM
Tel: +46(0)8 446 860 80
Web: www.arctic.com/secse/