TC TECH receives 19 MSEK from directed share issue
The board of directors of TC TECH Sweden AB
(publ) has decided to conduct a directed share issue of 1 412 700 shares in accordance with the authorization granted from
the company’s annual general meeting on May 9, 2019. The share issue will
increase the company’s share capital with 113 016 SEK, while the company
receives approx. 19 MSEK in cash.
The largest subscribers of shares in the directed share issue are three companies in the Swedish insurance company group Länsförsäkringar, known for their strong focus on commitment and long-term ownership. The remaining shares were subscribed by legal and physical persons who are expected to become long-term partners of the company. The subscription price has been set to 13.45 SEK per share based on the closing share price on October 23, 2019.
The share issue constitutes a deviation from the shareholders' preferential rights. The purpose is to secure additional working and development capital for the company, at the same time as several new and financially strong owners joins the company.
“The fact that renown owners such as companies in the Länsförsäkringar group has chosen to invest in TC TECH is another important validation of our technology and TC TECH’s potential,” says Peter Mattisson, chairman of the board, in a comment.
For further information, contact:
Peter Mattisson, Chairman of the Board of TC TECH
Tel: 46 (0)708–55 34 34
E-mail: peter.mattisson@tctech.se
www.tctech.se
This information is information that TC TECH Sweden AB (publ) 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 C.E.T. on 25 October 2016.
About TC TECH
TC TECH develops, manufactures and sells systems used for the replication of nano-structures in polymer products. The company’s business operations are based on an IPR-protected induction technology developed by TC TECH’s own R & D team. The technology makes it possible to heat and cool different kinds of material – in very short time, and with very high precision. The technology is well suited for polymers, and the company has chosen Light Guide Plates (LGP) as its initial focus. LGP is an acrylic panel that directs and diffuses the light emitted from the light source behind the display. TC TECH’s system makes it possible to produce displays that are thinner, refracts light more efficiently while at the same time reducing energy consumption.
The TC TECH share is listed on Nasdaq First North Growth Market.
Arctic Securities is the company's Certified Adviser, email: certifiedadviser@arctic.com, tel: +46 844 68 61 00.