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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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TC TECH receives 10,6 MSEK from directed share issue

The board of directors of TC TECH Sweden AB (publ) has decided 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.

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 longterm ownership. The remaining shares are subscribed by legal and physical persons who are expected to become long-term partners of the company. The subscription price has been set to 6.90 SEK per share based on the closing share price on October 12, 2020, which also correlates to the average volym based share price of the five banking days leading up to October 12, 2020. The share issue constitutes a deviation from the shareholders' preferential rights. The purpose is to secure additional working and development capital for the company from financially strong owners with a long-term engagement in the company. “The fact that renown owners have 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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Regulatorisk

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

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

Net sales amounted to 0 (4 254) TSEK in the second quarter of 2020. In the same period, net profit/loss totalled -5 250 (-6 838) TSEK. Cash flow from operating activities was -2 987 (-9 270) TSEK in the second quarter of 2020.  Net sales amounted to 105 (5 118) TSEK in the first half of 2020, while net profit/loss totalled -12 657 (-15 372) TSEK. Cash flow from operating activities was -10 328 (-15 947) TSEK in the period from 1 January to 30 June 2020.  Developments in the second quarter of 2020 · TC TECH Sweden AB (publ) announced that the company currently has 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.

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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/