Listing process for AAC Microtec as a consequence of the Clyde Space acquisitionAccording to the press release on 21st December 2017, ÅAC Microtec AB (publ) ("AAC" or "the Company") has entered an agreement to acquire Clyde Space Limited ("Clyde Space"). As a consequence of this acquisition, AAC will execute a new listing process. The reason for this is that Nasdaq finds that the acquisition of Clyde Space entails a material change of AAC's operations, ownership structure and capital structure. As part of the listing process, that will involve a customary review by Nasdaq to secure that the Company meets the listing criteria, the Company will, among other things, develop an updated company description. AAC expects to complete the listing process well in advance of the extraordinary general meeting 29th January 2018. 22nd December 2017 Further information
For further information, please contact:
Mr. Rolf Hallencreutz, Chairman of ÅAC Microtec AB at [email protected]
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 12:30 CET on 22 December, 2017.
The following documents can be retrieved from beQuoted
AAC Microtec Pressrelease 2017-12-22 English.pdf About AAC
AAC provides high value space solutions and systems for commercial, governmental and educational customers on the global market through its direct sales and marketing with representation in Europe and the USA as well as a partner network in Japan and South Korea.
The company has a rare ability to produce advanced satellite platforms, sub-systems and components with robust electronics at a competitive price. AAC has a strong competitive advantage in that it operates with ITAR-free products in the high-end segment of the small satellite market. The products are flight-proven and has strong heritage.
Today, AAC supplies a wide range of end-users with state-of-the-art microelectronics systems plus technology services and support. Customers include the European Space Agency (ESA), NASA, the US Air Force Research Laboratories (AFRL), JAXA, the Swedish National Space Board (SNSB) and Swedish Defence Materiel Administration (FMV), as well as leading industrial groups now using our aerospace compliant devices in innovative products and applications.
AAC is a publicly listed company on Nasdaq First North in Sweden. Major owners include Swedish Government-backed VC-firm Fouriertransform, RP Ventures, and other institutional investors.
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