TC TECH Sweden AB (publ) publishes its interim report

TC TECH has today published its interim report for the period January 1 to September 30, 2022. 

Net sales amounted to 10 050 (0) TSEK in the third quarter of 2022. In the same period, net profit/loss totalled -875 (-4 318) TSEK. Cash flow from operating activities was -1 458 (-563) TSEK in the period from July 1^st to September 30^th 2022.

Net sales amounted to 15 880 (0) TSEK in the first nine months of 2022, while net profit/loss totalled -13 076 (-10 975) TSEK. Cash flow from operating activities was -11 820 (-6 082) TSEK in the period from January 1^st to September 30^th 2022.

Developments in the third quarter of 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).

Developments after September 30, 2022

TC TECH announced that the company has received an order from the Taiwan-based company Global Lighting Technologies. The total order value amounts to approximately 6.0 million SEK

TC TECH announced that the Bid Company CIMON Acquisition AB on October 12 announced that its ownership in TC Tech Sweden AB (publ) exceeds 90%.  At the time of this press release, CIMON Acquisition holds a total of 22,947,952 shares, corresponding to approximately 90.36 percent of the number of shares and votes in TCTECH.  CIMON Acquisition intends to initiate compulsory acquisition of the remaining shares in TCTECH and in connection therewith work to ensure that the Board of Directors of TCTECH decide to delist TCTECH's shares from trading on Nasdaq First North Growth Market.

TC TECH announced that the Bid Company CIMON Acquisition AB, on October 24, has called for the Board of Directors of TC TECH Sweden AB (publ) ("TCTECH") to redeem the remaining shares in TCTECH from the other shareholders in accordance with Chapter 22. Section 1 of the Companies Act. At the time of this press release, CIMON Aquisition holds a total of 23,590,089 shares in TCTECH, corresponding to approximately 92.9 percent of the number of shares and votes in TCTECH. It has not been possible to reach an agreement on the redemption of the shares with all other shareholders. CIMON Acquisition has therefore requested that the dispute be resolved by arbitrators in accordance with Chapter 22, Section 6 of the Public  Companies Act. CIMON Acquisition has also requested that the Board of Directors of TCTECH apply for delisting of the shares in TCTECH from Nasdaq First North Growth Market.

For further information, please contact:

Alexander Luiga, C.E.O., TC TECH Sweden AB (publ)
Tel: [phone]
Email: [e-mail]
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 October 27^th 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: [e-mail], tel: [phone].

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