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TC TECH Sweden AB (publ) publishes its interimreport as of 30 June 2018

Net sales amounted to 0 (0) TSEK in the second quarter of 2018. In the same period, net profit/loss totalled -7 557 (-5 869) TSEK. Cash flow from operating activities was -6 164 (-3 657) TSEK in the second quarter of 2018. Net sales amounted to 0 (3 141) TSEK in the first half of 2018, while net profit/loss totalled -15 222 (-10 262) TSEK. Cash flow from operating activities was -11 210 (-7 752) TSEK in the period from 1 January to 30 June 2017. TC TECH has in June made a directed equity issue of 1 217 800 shares, based on the authorization granted by the AGM held on May 16th 2018.  As a result of this resolution, the company’s share capital increased by SEK 97.4 thousand and liquid funds by around SEK 14 million.   

TC TECH Sweden AB (publ) has received a patent approval in Sweden for the patent application ”Method and arrangement for metal processing”. The approval in Sweden is the first one regarding partial hardening and extends the patent protection for the company’s general technology platform. The patent will be valid until the 3rd of July 2038. TC TECH Sweden AB (publ) announces that the company is delivering an upgraded production system for volume production of LGPs for displays to a Taiwanese customer after successfully completed tests in the company’s facilities in Stockholm. Delivery and installation in Taiwan occurred during July. Production tests are in progress for final approval.  TC TECH has received funding of 9 MSEK from the company's main shareholder

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TC TECH delivers the first unit of its upgraded production system to Taiwan

TC TECH Sweden AB (publ) announces that the company is delivering an upgraded production system for volume production of LGPs for displays to a Taiwanese customer after successfully completed tests in the company’s facilities in Stockholm. The installation in Taiwan is expected to be completed in July.

The upgraded production system will replace a previously delivered system, as communicated in the press release published on February 7, 2018. The tests of the upgraded production system were conducted on behalf of the client in TC TECHs cleanroom in the company’s facilities in Stockholm. The cleanroom was installed in the spring and has made it possible to test the system in demanding industrial conditions. The company has thus been able to prepare and fine-tune the product before commencing the delivery process. “The successful completion of these tests confirm that the upgraded version of our production system is robust and capable of manufacturing high-quality LGPs. We will now complete the delivery and installation of the system in July,” says TC TECH's CEO Alexander Luiga.

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TC TECH receives patent approval in Sweden which expands the protection of the company’s technology platform

TC TECH Sweden AB (publ) has received a patent approval in Sweden for the patent application ”Method and arrangement for metal processing”. The approval in Sweden is the first one regarding partial hardening and extends the patent protection for the company’s general technology platform. The patent will be valid until the 3rd of July 2038.

TC TECH’s technology platform makes it possible to use induction (electromagnetism) to heat up, emboss and cool down detailed objects made of plastic, or other materials, with high precision. This patent approval extends the patent protection for our technology to be valid for metal parts. “This patent approval extends the patent protection for our technology platform to also cover hardening of metal where we can see a great potential for our technology. Regarding partial hardening there is an especially high demand to find methods which can enable both hardened and soft zones with high precision. Within automotive industry the press hardening is a fast-growing area, there existing technologies have limitations regarding effectiveness and precision. TC TECHs main focus is still the development of a production system for light guide plates, but in the future other areas will also be important for the company” says TC TECH CEO Alexander Luiga Initially, TC TECH has developed a production system for the manufacturing of a new generation of light guide plates (LGPs) that can substantially reduce the energy consumption in edge-lit LCD displays, as well as improve the picture quality. Edge-lit LCD displays are used in the majority of all mobile phones, tablets, laptops, computer displays and TVs on the market today. TC TECHs technology platform also has the potential to be used within several additional application areas, of which hardening of metal is one.

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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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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/