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TC TECH makes equity issue worth SEK 14 million

TC TECH’s Board of Directors has decided to make a directed equity issue of 1,217,800 shares, based on the authorization granted by the AGM held on 16 May 2018. As a result of this resolution, the company’s share capital will increase by SEK 97.4 thousand and liquid funds by around SEK 14 million. 

The subscribers in the share issue are institutional and private investors, who is characterized by a strong focus on commitment and perseverance. The subscription price will be SEK 11,50 per share, based on the VWAP in the ten-day period preceding the decision by the Board (SEK 12:66) reduced by 9,1 per cent. The share issue makes an exception from the preferential right of TC TECH’s current shareholders, the purpose being not only to give the company access to additional operating and growth capital, but also to welcome a number of new, strong key partners on board. ”When these institutional and private investors invests in our company, that is certainly a confirmation of the market’s interest in our technology and faith in the company’s future”, says Peter Mattisson, Chairman of the Board of TC TECH.  

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Press release from TC TECH Sweden AB’s 2018 Annual General Meeting

TC TECH Sweden AB’s annual general meeting was held on 16 May 2018, adjacent to the company’s own premises at Domnarvsgatan 4 in Spånga, Sweden. Approximately 63% 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 2017, and discharged the members of the Board and the CEO from liability for the fiscal year 2017. Further, in accordance with the proposal submitted by the Nomination Committee, the AGM resolved that the Board of Directors shall consist of six 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 2019: Peter Mattisson (Chairman of the Board), Per-Anders Johansson, Cecilia Jinert Johansson, Jörgen Brandt, Sven Löfquist and Anders Lönner. In according with the Nominating Committee’s proposal, the AGM resolved that the total fees paid to the Board, shall be 350 000 SEK, of which 100,000 shall be paid to the Chairman and SEK 50,000 shall be paid to each of those Board members elected by the AGM who are not employed by the company. The AGM unanimously resolved to change the company’s Articles of Association to the effect that the AGM can be held either in the municipality of Stockholm or in the municipality of Karlshamn, and that the limits for the share capital is changed to 800,000 – 3,200,000 SEK and the limits for the number of shares in the company is changed to 10,000,000 – 40,000,000. It was 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 2019. 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 has published its interim report

TC TECH has today published its interim report for the period to March 31, 2018.

In the first quarter of 2018, net sales amounted to 0 (3 141) TSEK, net profit/loss to  -2 648 (-4 472) TSEK and cash flow from operating activities to -5 045 (-4 095) TSEK. TC TECH Sweden AB (publ) has received a patent approval in Taiwan for the patent application ”Device and method for heating a Mould or Tool”. The approval in Taiwan follows earlier approvals in Japan and China for the same patent family within electromagnetism, that strengthens and extends the patent protection for the company’s general technology platform. TC TECH Sweden AB (publ) has completed the specification and initiated the manufacturing of an upgraded version of the company’s production system for light guide plates (LGPs) that are used in LCD displays. The company has formally agreed to upgrade two delivered systems in Taiwan to the new version, the first in Q2 2018 and the second in H2 2018. TC TECH Sweden AB (publ) announces that Björn Hallare has been appointed as the company’s chief operating officer (COO) after having served as interim COO since the autumn of 2017. Björn’s 25 years of experience from managing development and industrialization projects at companies such as Ericsson, Huawei and Telia add important knowledge to the company’s development of production systems for light guide plates (LGPs) used in LCD displays.

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TC TECH Sweden AB (publ) - Summarized Financial Statements December 31 2017

Net sales amounted to 0 (0) TSEK in the fourth quarter of 2017.  Net profit/loss totalled -8 116 (-5 046) TSEK in the fourth quarter of the year.   Cash flow from operating activities was -5 208 (-3 591) TSEK in the period from October 1st to December 31 2017.   Net sales amounted to 3 141 (0) TSEK in the full year 2017, While net profit/loss totalled -23 784 (-22 816) TSEK in the full year 2017.  Cash flow from operating activities was -15 182 (-17 945) TSEK in the full year 2017.  

TC TECH Sweden AB (publ) has received a patent approval in Taiwan for the patent application ”Device and method for heating a Mould or Tool”. The approval in Taiwan follows earlier approvals in Japan and China for the same patent family within electromagnetism, that strengthens and extends the patent protection for the company’s general technology platform. TC TECH Sweden AB (publ) has completed the specification and initiated the manufacturing of an upgraded version of the company’s production system for light guide plates (LGPs) that are used in LCD displays. The company has formally agreed to upgrade two delivered systems in Taiwan to the new version, the first in Q2 2018 and the second in H2 2018.  TC TECH Sweden AB (publ) announces that Björn Hallare has been appointed as the company’s chief operating officer (COO) after having served as interim COO since the autumn of 2017. Björn’s 25 years of experience from managing development and industrialization projects at companies such as Ericsson, Huawei and Telia add important knowledge to the company’s development of production systems for light guide plates (LGPs) used in LCD displays.

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TC TECH recruits Björn Hallare as COO with focus on product development, quality assurance and manufacturing

TC TECH Sweden AB (publ) announces that Björn Hallare has been appointed as the company’s chief operating officer (COO) after having served as interim COO since the autumn of 2017. Björn’s 25 years of experience from managing development and industrialization projects at companies such as Ericsson, Huawei and Telia add important knowledge to the company’s development of production systems for light guide plates (LGPs) used in LCD displays.

During his time as interim COO, Björn Hallare was highly instrumental in the development of the company’s new version of the production system for high-volume manufacturing of highly efficient LGPs for edge-lit LCD displays that are used in products such as mobile phones and laptops. "Björn has had an important role during the testing and optimisation phase of the two production systems of the earlier version in Taiwan, as well as in the process of upgrading to the new version that we will start to deliver during the second quarter of this year. We are therefore pleased to be able to announce the recruitment of Björn as our permanent COO," says TC TECH’s CEO Alexander Luiga. As COO, Björn Hallare will focus on continued product development and manufacturing of future products as well as quality assurance and logistics. "This recruitment is another important step forward in our work towards being able to secure additional orders for our production system, while at the same time preparing for the two initial deliveries in Taiwan. When these deliveries are completed, Björn will become a valuable resource in our development of additional applications for our patented technology", says Alexander Luiga.

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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/