TC TECH Sweden AB (publ) publishes its interim report
TC TECH has today published its interim report for the period April 1 to Juni 30, 2022.
Net sales amounted to 34 (0) TSEK in the second quarter of 2022. In the same period, net profit/loss totalled -8 187 (-2 557) TSEK. Cash flow from operating activities was -4 259 (-1 716) TSEK in the period from April 1st to June 30th 2022.
Net sales amounted to 5 829 (0) TSEK in the first half of 2022, while net profit/loss totalled -12 201 (-6 657) TSEK. Cash flow from operating activities was -10 361 (-5 519) TSEK in the period from January 1st to June 30th 2022.
Developments in the second quarter of 2022
TC TECH completed a fully subscribed rights issue of 6,349,349 shares in accordance with the resolution made at the Extraordinary General Meeting on April 7, 2022. Through the issue, the company's share capital has increased by SEK 507,947.92, while the company has been allocated approximately SEK 24.8 million in cash and cash equivalents.
TC TECH announced that the company has received its first order in the biotechnology sector from Israel-based diagnostics company Picodya Technologies Lt. Order is worth approximately SEK 6.5 million relating to production systems and peripherals for the manufacture of consumables in microfluidics/diagnostics.
Developments after June 30, 2022
TC TECH announced that the bid company CIMON Acquisition AB on July 5 announced a mandatory cash offer to shareholders in TC TECH Sweden AB (publ). And that CIMON Acquisition AB on July 27 published an offer document regarding a mandatory public offer to the shareholders of TC TECH Sweden AB (publ).
For further information, please contact:
Alexander Luiga, C.E.O., TC TECH Sweden AB (publ)
Tel: +46 (0)8-788 08 01
Email: alexander.luiga@tctech.se
www.tctech.se
This information was submitted for publication through the agency of the contact person set out above, at 8.00 C.E.T. on August 18th 2022.
About TC TECH
TC TECH is an innovative high-tech company that has developed its very own system for the production of advanced plastic details with nano patterns. Operations are based on an IPR-protected induction technique that makes it possible to heat and cool material – rapidly and with high precision. Initially, TC TECH has chosen to focus on systems for the production of diffusers for mini-LED and so-called Light Guide Plates (LGP) for screens and displays. TC TECH has its statutory seat and head office in Stockholm (Spånga), Sweden, where also R&D operations are based.
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.