At the extraordinary general meeting in ÅAC Microtec AB ("ÅAC" or the "Company") held on 29 January 2018 the following main resolutions were adopted:
- The extraordinary general meeting resolved to approve the proposed acquisition of Clyde Space Limited ("Clyde") in accordance with the share purchase agreement that the Company entered into on 21 December 2017.
- The extraordinary general meeting resolved to change the Company's articles of association. The changes mainly related to changes to the limits of the share capital and the number of shares.
- The extraordinary general meeting resolved to approve the resolution by the board of directors to issue shares against payment in kind, which resolution was made on 21 December 2017. Following the approval by the extraordinary general meeting, the Company's share capital will increase by SEK 1,218,653.04 through an issue of 30,466,326 shares. The new shares may only be subscribed for by the shareholders in Clyde with right and obligation of the subscribers to make payment for the shares subscribed for through contribution in kind of all their respective shares in Clyde. The assets to be contributed in kind shall be contributed at the same time as subscription for the new shares. In addition, a cash purchase price of GBP 2,000,000 shall be allocated among the sellers.
- The extraordinary general meeting resolved to approve the resolution by the board of directors to issue shares (directed isuance), which resolution was made on 21 December 2017. Following the approval by the extraordinary general meeting, the Company's share capital will increase increase by SEK 261,437.92 through an issue of 6,535,948 shares. The subscription price shall be SEK 7.65. With deviation from the shareholders' preferential rights, the new shares were subscribed for by the limited number of Swedish and international professional and institutional investors identified by G&W Fondkommission. The subscription price was determined through a so-called "accelerated book-building" procedure led by G&W Fondkommission. The reason for deviation from the shareholders' preferential rights is to diversify the shareholder base and at the same time raise capital in a time efficient manner, in immediate connection with the announcement of the acquisition of Clyde.
- It was resolved to appoint a new member of the board of directors. William Whitehorn was elected in such capacity. It was decided that the same fees would be paid for the appointment until the time of the upcoming annual general meeting (pro-rated for the remaining period).
- The board of directors were further mandated to resolve on issuances as per the proposal by the board of directors.
FOR MORE INFORMATION:
Please visit: www.aacmicrotec.com or contact:
The information in this press release is such that ÅAC Microtec AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 15:15 on 29 January 2018.
ABOUT ÅAC MICROTEC
ÅAC Microtec is a supplier of spacecraft avionics, such as onboard computers, mass memory storage and power management units. ÅAC's technical competence includes the advanced and robust, fault-tolerant microelectronics for critical space applications. The company also markets complete satellites (weight <150 kg) in collaboration with other specialized suppliers.
ÅAC Microtec's shares are traded on Nasdaq First North Stockholm. G&W Fondkommission, telephone +46 8 503 000 50, is the Certified Adviser.
ÅAC Microtec AB I tillägg till den tidigare kommunicerade uppskattningen av omsättningen om 85 MSEK för 2018 räknar ÅAC Microtec med att ett positivt EBITDA-resultat uppnås under fjärde kvartalet 2018.
ÅAC Microtec AB ÅAC vinner uppföljningsorder från en japansk kund, den första ordern publicerades i november 2017. Det totala ordervärdet är cirka 2,5 MSEK och förväntas levereras i två omgångar, under andra respektive fjärde kvartalet 2018.
ÅAC wins follow-on order from a Japanese customer, the first order was press released in November 2017. The total order value is approximately 2.5 MSEK and is expected to be delivered in two batches, during Q2 and Q4 2018.
ÅAC Microtec AB ÅAC har vunnit en order från Aistech Space i Spanien avseende delsystem till 10 av Aistechs nästa generation av satelliter. Ordervärdet är cirka 5,6 MSEK, leveranser startar under tredje kvartalet 2018.
ÅAC Microtec AB ÅAC has received an order from Aistech Space in Spain to supply spacecraft subsystems to ten of Aistech's next generation of satellites. The total order is worth approximately 5.6 MSEK, deliveries starts in Q3 2018.
Småsatellitleverantören ÅAC Microtec uppskattar att omsättningen för 2018 kommer att uppgå till omkring 85 MSEK. I uppskattningen ingår Clyde Space under 11 månader.
The small satellite supplier ÅAC Microtec expects that the total turnover 2018 will be approx. 85 MSEK. The estimate includes Clyde Space during 11 months.
Aktieägarna i ÅAC Microtec AB, org. nr 556677-0599, kallas härmed till årsstämma torsdagen den 24 maj 2018 klockan 13.00 i lokaler på Hotel Villa Anna, Odinslund 3, 753 10 Uppsala.
ÅAC har utökat affärsrelationen med York Space Systems genom en order för att leverera batterier till Yorks S-CLASS satellitplattform. Leveransen inkluderar tekniskt stöd och leverans av ett batterisubsystem. Den första ordern, som har ett begränsat värde, är av strategisk betydelse eftersom detta är ytterligare ett delsystem till S-CLASS satelliten.
ÅAC has extended business activities with York Space Systems to include the supply of the batteries for their S-CLASS satellite platform. The delivery includes engineering support and delivery of one battery sub- system. The initial procurement, with a limited value, is of strategic importance as this is yet another subsystem for York's S-CLASS platform with potential for follow on orders for subsequent missions.
ÅAC:s dotterbolag Clyde Space kvalitetssystem för design och tillverkning av satellitplattformar och subsystem har certifierats enligt ISO 9001:2015
ÅAC's subsidiary Clyde Space Quality Management Process for design and manufacturing of satellite platforms and avionics subsystems has been certified according to ISO 9001:2015
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