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Swedish Stirling evaluates the conditions to carry out a preference share issue

16 February 2022 - 15:30

Swedish Stirling AB (publ) (“Swedish Stirling” or the “Company”) today announces that the Company evaluates the conditions to carry out a preference share issue of approximately SEK 130 million (the “Preference Share Issue”) to finance the production of PWR BLOK for projects in South Africa and Europe. The Company’s Board of Directors has decided to convene an Extraordinary General Meeting to be held on 21 March 2022 to resolve to amend the articles of association to enable the issuance of the share class preference shares. In the notice of the Extraordinary General Meeting, which is published today through a separate press release, the Board of Directors also proposes that the Extraordinary General Meeting resolves on an authorization for the Board of Directors to resolve on a new share issue of up to 1,100,000 preference shares.

 In the case that the Preference Share Issue is carried out, the proceeds will be utilised to finance the production of PWR BLOK for energy conversion projects in South Africa and Europe of up to 40 MW, out of which 10 MW is already agreed under the Glencore agreement regarding the Lion smelter.

 

The main terms for the preference shares will be disclosed in the notice to the Extraordinary General Meeting.

 

Swedish Stirling has engaged ABG Sundal Collier as financial adviser to evaluate the conditions to carry out the Preference Share Issue.

 

This 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, at 15:30 CET on 16 February 2022.

 

For further information please contact:

Sven Ljungberg, CCO, Swedish Stirling AB, +46 (0)31 385 88 30  [email protected]

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, [email protected].  Read more at www.swedishstirling.com

Provided by: Cision
Nasdaq First North GM Stockholm (Sweden)
Swedish Stirling AB
Swedish Stirling has developed a hybridized Stirling engine. The Stirling engine forms the basis of the company's products Ripasso Stirling Hybrid and PWR BLOK. The Ripasso Stirling Hybrid is a solar hybrid where energy from the sun is supplemented with some other fuel during the dark hours of the day....
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