The Board of Directors of Swedish Stirling has decided to withdraw the ongoing new issue of preference shares
The Board of Directors of Swedish Stirling AB (publ) (”Swedish Stirling” or the ”Company”) has today decided to withdraw the ongoing offering of newly issued preference shares to institutional investors in Sweden and abroad and the general public in Sweden (the ”Offering”) that was announced on 30 August 2022. The Offering is withdrawn due to prevailing market conditions.
On 30 August, 2022, the Board of Directors of the Company, by support of authorization from the annual general meeting on April 21, 2022, resolved to carry out the Offering of approximately SEK 100 million to primarily finance the production and installation PWR-BLOK 400-F at Glencore’s Lion smelter in Steelport, South Africa. The Board of Directors has today decided to withdraw the Offering due to prevailing market conditions.
This information is such 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 September 23, 2022 at 17:45 CEST.
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 – 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 one of the cheapest ways 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
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This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Korea, South Africa, Switzerland or the United States (including its territories and possessions, any state of the United States and the District of Columbia), or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
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This press release contains certain forward-looking statements that reflect the Company’s intentions, beliefs, or current expectations about future events as well as financial and operational development. Words such as “intend”, “assess”, “expect”, “may”, “plan”, “believe”, “estimate” and other expressions entailing indications or predictions of future development or trends, not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties as it depends on future events and circumstances. Forward-looking information is not a guarantee of future results or development and actual outcomes may differ materially from the statements set forth in the forward-looking information.
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