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

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.