TC TECH Sweden AB (publ) publishes its Interim Report as of 31 March 2016
Net sales amounted to 0 (0) TSEK in the first quarter of 2016, while net profit/loss totalled -6 343 (-1 168) TSEK in the same period. Cash flow from operating activities was -6 966 (-128) TSEK in the period from 1 January to 31 March 2016.
Since year-end, TC TECH has hired additional key employees in the areas of installation, service and process technology in view of the planned expansion on the Asian market. The company has signed agreement for the delivery of a production system to a customer in Taiwan, for production evaluation. The agreement provides valuable opportunities for TC TECH to build further knowhow about customer demands and technical specifications, at the same time as its validates the market’s interest in TC TECH’s technology.Läs mer
TC TECH has signed delivery agreement for a production system to Taiwan
TC TECH has now signed an agreement for one more system to be delivered to Taiwan, initially for trial runs. Shipment is to be commenced immediately.
According to the agreement signed, TC TECH commits to adjust and tailor the system in line with customer specifications, on site in Taiwan. After a certain evaluation period in full-scale production and conditional upon approval by the customer, the customer has the option to either acquire or rent the production system. ”The framework of this agreement is of great benefit for TC TECH, in view of the stage of market establishment we have now reached”, says C.E.O. Peter Mattisson. ”Not only is the delivery agreement a validation of the market’s interest in our technology, but it also provides valuable opportunities for us to build further knowhow about customer demands and technical specifications while at the same time refining our system in a proper production environment.”Läs mer
Alexander Luiga to be appointed C.E.O. of TC TECH Sweden AB (publ)
In the recently published invitation to the Annual General Meeting of TC TECH, the Nomination Committee proposes that TC TECH’s current C.E.O. Peter Mattisson be elected Chairman of the Board by the AGM scheduled for 26 May 2016. In connection therewith, the current deputy C.E.O. Alexander Luiga will be appointed C.E.O. of TC TECH.
Alexander Luiga, born 1965, has comprehensive experience from business operations in Asia. Luiga has, for example, spent eight years in Beijing (China), and during the all in all 16 years Luiga worked in Asia he was also active in Japan, Korea and Taiwan. Most of this time Luiga specialised in the area of Telecom; hardware as well as software. Before joining TC TECH, Luiga worked for the Efore Group where he was on the Management Team. Luiga was the E.V.P. of Business Area Telecom from 2010 onwards. ”The pending change is a natural step in TC TECH’s development”, says Peter Mattisson, current C.E.O. ”We made a very successful listing of TC TECH on Nasdaq First North; we have fortified and fine-tuned our organisation – now it’s time for us to focus on securing a position on the Asian market. Alexander’s skills and experiences are exactly what TC TECH needs to achieve this goal”. Assuming that the AGM votes in accordance with the proposal, Per-Anders Johansson leaves his current position as Chairman of the Board but remains on the Board to ascertain TC TECH’s continued access to valuable know-how and experience. Peter Mattisson will remain in charge of TC TECH’s investor relations.Läs mer
TC TECH Sweden AB (publ) Summarized Financial Statements 31 December 2015
· Net sales amounted to 0 (0) TSEK in 2015, of which 0 (0) TSEK in the fourth quarter of the year. · Net profit/loss totalled -9 166 (-2 967) TSEK in 2015, of which -5 759 (-1 029) TSEK in the fourth quarter of the year. · In October 2015, TC TECH secured its first order from a customer in Taiwan. Shipment was commenced in December, and the system is expected to be put into operation in the first quarter of 2016. · In October – November 2015, TC TECH made a new share issue whereby the company’s share capital increased by 280 TSEK. The net cash infusion amounted to 27 593 TSEK. The issue was over-subscribed by some 300 per cent. · On 30 November 2015, the company’s share was listed on Nasdaq First North (Stockholm). Developments after year-end · There are discussions and tests going on with a growing number of potential customers, several of whom are evaluating the possibility of exploiting TC TECH’s technology for a new generation LGP with advanced optical structures. · Additional key employees have been recruited, such as an incoming head of technical support/customer installations who is currently employed by Mycronic Japan. · On 1 March, deputy C.E.O. Alexander Luiga joins the TC TECH team. Alexander has extensive experience from business development and sales in Asia, and is currently employed by the Efore Group. · On 1 March, TC TECH expands its premises in Spånga by some 200 m2 office space, adjacent to its current R&D facilities.
Comments from Peter Mattisson, C.E.O. TC TECH is a technological innovator that has developed a leading-edge production technology for LGP (Light Guide Plates) used in the global display industry. A number of our production systems are now ready for launch, and have met with strong interest among potential customers. We have thus taken our first steps towards commercialization. Smartphones, tablets and laptops are becoming more and more complex and advanced – with improved functionality, and higher performance. Manufacturers are constantly striving for higher-quality displays. At the same time, however, these displays should also be as thin and energy saving as possible. The energy factor is an important one, as battery capacity for mobile units remains a bottleneck. Concurrently, the world’s total energy consumption for television sets, monitors and displays remains a global problem. With TC TECH’s systems it is possible to produce thinner and optically more advanced LGP. Which, in turn, makes it possible to produce thinner and less energy-consuming screens. This might very well entail a shift of paradigm in the production of LGP. In my opinion, TC TECH might very well position its production systems as a new standard for the manufacture of next generation’s LGP for the display industry. TC TECH is now entering a new phase, launching its systems on the market. We have a strong network among the leading producers of screens, displays and components in Asia, who have shown a great interest in our technology. There are currently a number of discussions and tests going on with several potential customers. We have noted a growing demand for LGP based on optically more advanced matrixes, but it is difficult to estimate when such advanced matrixes will actually gain the upper hand. TC TECH’s progress is also closely linked to the rate at which our potential customers develop their own, more advanced matrixes. The response we are getting, however, is confirming our belief in TC TECH’s unique technology. We know that TC TECH has what it takes to develop next generation’s more sophisticated LGP. In the third quarter of 2015 TC TECH landed its first order,…Läs mer
TC TECH’s new share issue over-subscribed – the company has been approved for listing on Nasdaq First North from 30 November 2015
TC TECH Sweden AB (publ) (”TC TECH” or ”the Company”) has now closed its public offer for subscription of new shares in the Company (the ”Offer”), which was over-subscribed. The Company’s application for listing on Nasdaq First North has been approved, and the first day for TC TECH’s share to be traded on the market will be 30 November 2015.
TC TECH’s new share issue in view of the Company’s listing on Nasdaq First North resulted in subscriptions totalling SEK 110 million, or a subscription rate surpassing 300 per cent. The issue provides the Company with a capital contribution of SEK 29.8 million before transaction costs, and around 800 new shareholders. TC TECH’s application for listing on Nasdaq First North has been approved, and the first day for the TC TECH share to be traded on the market will be Monday 30 November 2015. The subscription period for TC TECH’s new share issue ended on 19 November 2015. A number of institutional and private investors, some of them members of TC TECH’s Board of Directors and Management, guaranteed SEK 21.1 million (or 67.7 per cent) of the issue before the subscription period started. Upon registration of the new issue, the Company’s total number of shares will increase by 3,500,000, to a total of 10,071,550 issued shares. This corresponds to an increase of share capital and votes by 53.3 per cent. ”TC TECH is now entering an exciting phase: the commercialization of our innovative technology in the screen industry. We are pleased and honoured by the strong interest from the stock market, and are of course encouraged by the over-subscription in view of our pending listing on Nasdaq First North. Now we look forward to the next few years, when we will secure a foothold on the screen market, enhance the economic potential of TC TECH and make our shareholders satisfied” says Peter Mattisson, TC TECH’s C.E.O. Advisers TC TECH has appointed Erik Penser Bankaktiebolag its financial adviser. As legal adviser has been appointed the commercial law firm Delphi in Malmö.Läs mer
Tel: +46(0)706 19 57 63
TC TECH has appointed Arctic Securities AS as its Certified Adviser.
Arctic Securities AS, Sweden bransch
SE-111 46 STOCKHOLM
Tel: +46(0)8 446 860 80