Skandia Fonder new major owner of myFC; Handelsbanken Fonder increases its ownership
Swedish fuel cell company MyFC (MYFC) carries out a targeted emission of 50 million SEK. Handelsbanken Fonder, already a major owner, buys 1 703 577 shares, while 1 135 718 shares are bought by Skandia Fonder.
"We welcome Skandia Fonder on board as a new institutional owner, and are pleased that Handelsbanken Fonder at the same time extends its confidence in and commitment to myFC. After a very intensive development year, we have now completed and certified JAQ Hybrid, where LAMINA, the world's smallest fuel cell, is integrated, "says Björn Westerholm, CEO of myFC.
"I now look forward to the first vertical orders under our frame agreement with Telling, and to finally see our technology reach the consumers. The technology platform in JAQ Hybrid is the basis for our increased efforts to integrate fuel cells in smartphones, which is enabled by this capital injection, Westerholm adds.
The new capital will primarily be used to strengthen development efforts aimed at integrating myFC fuel cells into smartphones, as well as the continued development of the LAMINA Range Extender for electric cars.
The targeted issue takes place at a price of SEK 17.61 per share and requires the approval of an Extraordinary General Meeting, held on January 4, 2018 as per separate notice. Following the issue, the total number of shares in myFC will be 37 517 564. Skandia Fonder's ownership of 1 135 718 shares will give them a 3.0% stake, while Handelsbanken Fonder will receive a share of approximately 9.6%. The dilution effect is 7.6%.
This information is information that myFC is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET on 19 December 2017.
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MyFC, a Swedish innovation company and market leader in micro fuel cells, develops green energy solutions. Its JAQ Hybrid platform, which co-locates fuel cell and battery to charge smartphones and tablets, was launched in 2017. JAQ Hybrid is the company's third hydrogen-powered product following JAQ and PowerTrekk. It runs on the company's patented fuel consisting of salt, water and reactants. MyFC was founded in 2005 and is part of the group myFC Holding AB. MyFC Holding was listed on NASDAQ | First North in May 2014. Its head office is located in Stockholm and the company's Certified Advisor is Avanza Bank. For more information, visit www.myfcpower.com