LightLab Sweden AB and Wallenius Water AB have agreed on enhanced cooperation - New industrial owner in LightLab Sweden AB
Lightlab and Wallenius Water AB have on 29 April signed a Letter-of-Intent regarding enhanced cooperation. The companies have now taken the next step. After negotiations and decisions by the respective Board of Directors, the companies have agreed as follows.
Wallenius Water AB invests, through its sister company Wallstreet AB, SEK 2 million in Lightlab by means of a directed equity issue at a subscription price of SEK 1.20 per share. This gives Wallstreet AB 1,666,666 shares in LightLab Sweden AB, which corresponds to about 4 percent of the total number of shares.
Furthermore, at LightLab’s Annual General Meeting, held on May 7, Mr. Torkel Elgh, CEO of Wallenius Water AB, was elected as new member of the board.
"We look forward to continuing and enhancing the cooperation with Wallenius Water AB, a leading player in chemical free water purification. We see the interest in investing in LightLab as a confirmation that LightLab’s technology, EEE Light®, has a significant commercial potential in the UV market for purification of air and fluids", says Johan Tingsborg, CEO LightLab Sweden AB
For further information regarding this press release please contact:
Jan Rynning, Chairman of the Board
Tel: 46 (0)703 51 00 05
Johan Tingsborg, CEO
Tel: 46 (0)8 442 0550
This is LightLab Sweden AB
LightLab is developing a new, environmentally-friendly lighting technology, EEE Light® Technology LightLab has 4,000 shareholders. The company’s shares are listed on NASDAQ OMX First North. The company’s certified adviser is Erik Penser Bankaktiebolag.