Outcome of conversion of Swedish Stirling KV2 and KV3

The conversion period for Swedish Stirling AB’s convertible bonds 2019/2021 (ISIN: SE0012141877) (”KV2”) and convertible bonds 2019/2021:2 (ISIN: SE0013236544) (”KV3”) ended on 15 February 2021. Of the total outstanding loan amount of SEK 79,505,021 under KV2, an amount of SEK 78,814,050 has been requested for conversion, which corresponds to approximately 99 per cent. Under KV3, 100 per cent of the total outstanding loan amount of SEK 53,000,000 has been requested for conversion in accordance with previously received irrevocable undertakings regarding conversion.

As a result of the conversion of KV2 and KV3, Swedish Stirling’s share capital will increase with SEK 137,702.92 from SEK 978,889.61 to SEK 1,116,592.53 and the number of shares and votes will increase by 13,770,292 shares and votes from 97,888,961 shares and votes to 111,659,253 shares and votes, corresponding to a dilution of approximately 12 percent of the total number of shares and votes in Swedish Stirling.

The new shares following conversion of KV2 and KV3 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 loans KV2 and KV3 is 28 February 2021. The remaining loan and interest under KV2 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.

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