The Board of Directors of Swedish Stirling AB (publ) ("Swedish Stirling" or the "Company") has resolved to give notice of termination of the employment of the managing director in order to limit future costs for the Company. The managing director will remain in service and at the Company's disposal during the notice period. The Board of Directors has further resolved, on the basis of the previously announced proposal to initiate an orderly winding-up of the operations, to initiate the preparations of a special balance sheet for winding-up purposes.
On 19 February 2023, Swedish Stirling announced that the Board of Directors had resolved to let the shareholders consider a proposal of voluntary winding-up of the Company at an extraordinary general meeting. As a consequence, and only due to these circumstances, and in order to limit future costs for the Company, the Board of Directors has resolved to give notice of termination of the employment of the managing director, applying the twelve months' notice period according to the employment agreement. The managing director will remain in service and at the Company's disposal during the notice period.
As a consequence of the current situation of the Company, the Board of Directors has further resolved to prepare a special balance sheet for winding-up purposes in accordance with the Swedish Companies Act, in order to establish whether the equity of the Company has fallen below one-half of the registered share capital.
This information is information that Swedish Stirling 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 below on 20 February 2023 at 20:30 CET.
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 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 into electricity. The company's latest product, the PWR BLOK unit, is a unique proprietary solution for recovering energy from industrial residual gases and heat, and for converting this into 100 percent carbon-neutral electricity with high efficiency. The company's vison is to establish Stirling technology as the best option for local, sustainable electricity generation. 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.
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