Initiation of conversion period for Swedish Stirling KV2

On 1 January 2021, the conversion period begins for Swedish Stirling AB’s convertible bonds 2019/2021 (ISIN: SE0012141877) (“KV2”). The conversion period runs from and including 1 January 2021 until and including 15 February 2021.

Convertible bond holders with directly registered holdings who wish to convert its convertible bonds should request conversion by using a specific application form. Application form and information about the conversion process will be sent by regular mail to all directly registered convertible bond holders. Convertible bond holders with KV2 registered in a custody account with a nominee, who wish to convert its convertible bonds, must request conversion in accordance with the instruction from its nominee(s).

The conversion process in brief

• The conversion period runs from and including 1 January 2021 until and including 15 February 2021.

• The conversion rate for KV2 is 10 SEK per share. Upon conversion, one new share is received for each full amount corresponding to the conversion price of the total nominal amount of the convertible bonds that each convertible bond holder simultaneously wishes to convert.

• Last day of trading in KV2 is on 10 February 2021.

• The new shares following conversion are estimated to be registered by the Swedish Companies Registration Office on or around 24 February 2021 and are expected to be traded on Nasdaq First North Premier Growth Market on or around 26 February 2021.

The final maturity date of the convertible loan is 28 February 2021. The remaining loan and interest will be repaid and paid on 1 March 2021 to those who are registered as convertible bond holders on the record date for payment 22 February 2021.

Undertakings regarding conversion

Swedish Stirling has, in accordance with the press release published on 1 December 2020, received irrevocable undertakings from holders of KV2 regarding conversion in accordance with the terms and conditions corresponding to approximately 68 percent of the total outstanding loan amount under KV2. The company has also received irrevocable undertakings regarding conversion from all holders of convertible bonds 2019/2021:2 (“KV3”) corresponding to 100 percent of the total outstanding loan amount under KV3, which also has a final maturity date on 28 February 2021.

For further information please contact:

Sven Ljungberg, CCO, Swedish Stirling AB, +46 (0)31 385 88 30  ir@swedishstirling.com. 

About Swedish Stirling AB

Swedish Stirling AB is a Swedish clean tech company founded in 2008 with a mission to further refine the incomparable ability of Stirling technology to convert thermal energy to electricity. The company’s latest product – the PWR BLOK 400-F – is a unique proprietary solution for recycling energy from industrial residual and flare gases and converting these into 100% carbon-neutral electricity at high efficiency. According to an independent certification, the PWR BLOK is the cheapest way to generate electricity that exists today, yielding greater CO₂ savings per krona invested than any other type of energy. Swedish Stirling AB is listed on Nasdaq First North Premier and FNCA Sweden AB is appointed Certified Adviser, +46(0)8-528 00 399, info@fnca.se.  Read more at www.swedishstirling.com