PowerCell Sweden AB has been informed that the formerly large shareholder in PowerCell, Midroc New Technology, has acquired 2,138,114 shares in PowerCell, representing 4.1 percent of votes and capital, from the Belgian investment company Finindus. The transaction means that Midroc New Technology returns as a large owner in PowerCell and that Finindus decreases its ownership in PowerCell from 8.0 percent to 3.9 percent.
Midroc New Technology is a venture capital company within Midroc Europe, an international company group headquartered in Stockholm. Midroc New Technology has been an owner in PowerCell since 2008 and sold all of its holding in PowerCell to Robert Bosch GmbH in November. Following the transaction with Finindus, Midroc New Technology is back as a large owner in PowerCell Sweden AB. Finindus is a Belgian investment company owned by ArcelorMittal and the Flemish region. The company has been a major owner in PowerCell since 2008 but has gradually decreased its ownership in PowerCell over the last couple of years.
For further information, please contact:
CEO, PowerCell Sweden AB (publ)
Phone: +46 (0) 31 720 36 20
This information is insider information that PowerCell Sweden 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 above, at 09:35 CET on December 5, 2018.
About PowerCell Sweden AB (publ)
PowerCell Sweden AB (publ) develops and produces fuel cell stacks and systems for stationary and mobile applications with a world class energy density. The fuel cells are powered by hydrogen, pure or reformed, and produce electricity and heat with no emissions other than water. As the stacks and systems are compact, modular and scalable, they are easily adjusted to any customer need.
PowerCell was founded in 2008 as an industrial spinout from the Volvo Group. The share (PCELL) is since 2014 subject to trade at Nasdaq First North Growth Market, Stockholm. G&W Fondkommission is Certified Adviser, e-mail: email@example.com, phone: +46 8 503 000 50.