Swedish Stirling gives notice of termination of the employment of the managing director and resolves to prepare a special balance sheet

The Board of Directors of Swedish Stirling AB (publ) (“Swedish Stirling” or the “Company”) has resolved to give notice of termination of the employment of the managing director in order to limit future costs for the Company. The managing director will remain in service and at the Company’s disposal during the notice period. The Board of Directors has further resolved, on the basis of the previously announced proposal to initiate an orderly winding-up of the operations, to initiate the preparations of a special balance sheet for winding-up purposes.

On 19 February 2023, Swedish Stirling announced that the Board of Directors had resolved to let the shareholders consider a proposal of voluntary winding-up of the Company at an extraordinary general meeting. As a consequence, and only due to these circumstances, and in order to limit future costs for the Company, the Board of Directors has resolved to give notice of termination of the employment of the managing director, applying the twelve months’ notice period according to the employment agreement. The managing director will remain in service and at the Company’s disposal during the notice period.

As a consequence of the current situation of the Company, the Board of Directors has further resolved to prepare a special balance sheet for winding-up purposes in accordance with the Swedish Companies Act, in order to establish whether the equity of the Company has fallen below one-half of the registered share capital.

This information 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 on 20 February 2023 at 20:30 CET.