The Board of Directors of Meltron AB has decided to implement changes in the Company's management. The CEO of the Company, Ville Sistonen, resigns, and the current Chairman of the Board, Göran Lundgren, takes position as acting interim CEO of Meltron AB. In connection with these changes, Göran Lundgren steps down as Chairman but remains on the Board of Directors. The Board of Directors has appointed Elisabet Wahlman to direct the work as acting Chairman of the Board. Mikko Sola, current CFO, takes over as CEO of the Finnish operations in Meltron Oy. Moreover, Pekka Pättiniemi steps down from the Board of Directors of Meltron at his own request.
- Meltron has for some time focused its efforts on marketing and sales, and partnerships with major international players are being developed, says Göran Lundgren. We now have to intensify these efforts whilst we also strengthen direct sales to major customers. The Board of Directors has reached the conclusion that Meltron is in need of a management with new impetus as well as a sharpened organization. The process to recruit a new long-term CEO has commenced.
Elisabet Wahlman was elected to the Board of Directors of Meltron in 2019. Today, Elisabet Wahlman serves as Chief Information Officer at Ramirent Group, a leading service company in the construction industry with operations in nine countries and part of the third largest equipment rental group in the world. Elisabet has focused on digitalization and change management also in previous senior roles in the management of Swedish and international groups. Elisabet has many years of experience of board work, and she has been the CEO of several smaller consultancy firms.
Mikko Sola took position as CFO at Meltron in December 2020. He holds an MBA from Tampere University and has a background in corporate and investment banking. Mikko has mostly worked for SEB in Finland (2008-2019), where he led a group of employees with customer responsibility for large enterprises and was part of the senior management of SEB Finland. In addition, Mikko has experience as management consultant, working with leading Finnish industrial companies across several countries.
- During his period at Meltron, Mikko has set the financial planning and reporting in good order. He has also been an active member of the senior management. His experience and drive will be essential for the work in the near future.
- Current CEO Ville Sistonen remains at the disposal of the Board of Directors and the management, and will first continue with a focused effort in Oman and certain countries in the Middle East, where the Company has been present for three years. We thank Ville Sistonen for his great dedication and all his efforts over a period of more than four years, says Göran Lundgren.
- We also thank Pekka Pättiniemi for the important contributions he has made on the Board of Directors for many years.
The Board of Directors will convene an extraordinary general meeting to elect a new member of the board when there is a proposal to consider.
Stockholm, November 26, 2021
For more information, please contact:
Göran Lundgren, acting CEO
Tel: +46 70 467 40 40
Meltron AB (publ)
Malmgårdsvägen 63, 116 38 Stockholm, Sweden.
Reg.no: 556988-9834. Website: www.meltron.com
This information is information that Meltron AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act and the regulatory requirements that govern the trading on NGM Nordic SME. The information was submitted for publication, through the agency of the contact person set out above, on 2021-11-26, at 08:30. This English version is published as a service; in case of discrepancies the Swedish version will prevail.
About Meltron - "More than Just Light"
Meltron AB designs, manufactures and sells LED lighting solutions which are based on interdisciplinary application of electronics, optics, thermodynamics and nano-structures. "More Than Just Light" translates into energy savings, superior light quality, product life-time savings, increased productivity, safety and wellbeing. Meltron provides high quality solutions for the most demanding environments in infrastructure, industry, logistics and agriculture. Read more at www.meltron.com
Meltron's share is traded on NGM Nordic MTF under the ticker MLTR.
Styrelsen i Meltron AB (publ), org.nr 556988-9834 ("Bolaget") har beslutat att avstämningsdag för sammanläggning av aktier ska vara den 20 maj 2022. Genom sammanläggningen ska tio (10) befintliga aktier läggas samman till en (1) ny aktie.
The board of directors of Meltron AB (publ), reg.no 556988-9834 (the "Company) has resolved that the record date for the reverse share split shall be 20 May 2022. Through the reverse share split, ten (10) existing shares will be consolidated into one (1) new share.
Vid extra bolagsstämma i Meltron AB (publ), org.nr 556988-9834, ("Bolaget") den 3 maj 2022 fattades bland annat följande beslut. För mer detaljerad information om innehållet i besluten hänvisas till kallelsen till stämman samt fullständiga förslag till beslut, som tidigare har publicerats och finns tillgängliga på Bolagets hemsida, www.meltron.com.
At the extraordinary general meeting (the "EGM") of Meltron AB (publ), reg. no 556988-9834, (the "Company"), on 3 May 2022 the EGM adopted, inter alia, the following resolutions. For more detailed information regarding the contents of the resolutions, please refer to the notice to the EGM and the complete proposals for resolution, which have previously been published and are available on the Company's website, www.meltron.com.
Aktieägarna i Meltron AB (publ), org.nr 556988-9834, ("Bolaget"), kallas härmed till extra bolagsstämma tisdagen den 3 maj 2022 klockan 10:00 i Advokatfirman Delphis lokaler på Mäster Samuelsgatan 17 i Stockholm. Inregistrering till stämman påbörjas klockan 09:30.
The shareholders of Meltron AB (publ), reg.no. 556988-9834, (the "Company"), are hereby given notice to attend the Extraordinary General Meeting on Tuesday, 3 May 2022 at 10:00 a.m. at the offices of Advokatfirman Delphi at Mäster Samuelsgatan 17 in Stockholm, Sweden. Registration for the meeting will commence at 09:30 a.m.
Meltron har nu avtalat om en kortsiktig lånefinansiering för cirka sex månader framåt. Styrelsen kommer efter sommaren att genomföra en nyemission för att säkra fortsatt finansiering fram till planerat positivt kassaflöde under 2023.
Meltron has now secured a short term financing for the next six months. The Board will after the summer do a rights issue in order to repay the bridge loans and to secure further financing until planned positive cash flow in 2023.
Finansiella highlights (koncern)
- Nettoförsäljningen sjönk till 1,4 MSEK (2,7)
- Rörelseresultatet uppgick till -18,6 MSEK (-10,7) inkl avskrivningar och nedskrivning av IPR för Dairy Light om 5,8 MSEK
- Nettoresultatet var -19,2 MSEK (-14,1)
- Rörelsens kassaflöde var -11,8 MSEK (-12,3)
Väsentliga händelser under halvåret
- God utveckling med kunder inom skogsindustrin
- Samarbete med Huawei påbörjades för att utveckla avancerade ljussystem för "Smart Cities"
- Samarbetet med ISAP (US) och av agri-sektorn har pausats
- Nyemission om 26 MSEK genomfördes hösten 2021
Financial highlights (Group)
- Net sales decreased to 1,4 MSEK (2,7)
- Operating result was -18,6 MSEK (-10,7), incl depreciations and write-down of Dairy Lights of 5,8 MSEK
- Net result was -19,2 MSEK (-14,1)
- Cash flow from operations was -11,8 MSEK (-12,3)
Significant events during first half of the year
- Good progress made with Forestry Industry customers
- Cooperation with Huawei started to develop advanced lighting system for "Smart Cities"
- Cooperation with ISAP (US) and the Agricultural lighting segment put on hold
- Successful rights issue 26 MSEK carried out in Autumn 2021
Styrelsen för Meltron har utsett Stefan Kåla till VD. Stefan har examen från Svenska handelshögskolan i Vasa, är 50 år, uppvuxen i Österbotten och bor i Helsingfors sedan många år. Han har arbetat hela sin karriär i belysningsbranschen. Under nästan 20 år var Stefan marknadsdirektör och exportchef för Oy Lival Ab, som är en ledande leverantör av butiksbelysning, allt från livsmedelsbutiker till varuhus. Stefan byggde med hjälp av en liten grupp medarbetare upp ett nät av återförsäljare och distributörer och ledde dem till en försäljning av mer än 1350 MSEK/år. Han satt i ledningsgruppen för Lival och deltog mångsidigt i företagets processer, bland annat produktutveckling. De senaste fem åren har han arbetat för Nordic Light inom svenska ITAB-koncernen med att bygga upp verksamheten i Europa. Även Nordic Light är specialiserat inom butiksbelysning med IKEA och H&M som storkunder över hela världen.
The Board of Meltron has appointed Stefan Kåla as CEO. Stefan has a degree from the Swedish School of Economics of Vaasa, grew up in Österbotten and lives in Helsinki since many years. His whole career is in the lighting business. For almost 20 years Stefan was marketing director and head of exports at Oy Lival Ab, a leading supplier of lighting systems for shops and retail, everything from food shops and supermarkets to department stores. Leading a small team of colleagues Stefan built a network of resellers and distributors and was responsible for sales of more than 130 M€/year. He was member of the management team at Lival and participated in many aspects of the company's processes, i.a. product development. The last five years he has been working for Nordic Light in the ITAB group of Sweden, building its European business. Nordic Light is also specialized in lighting for the retail industry with IKEA and H&M as large customers worldwide.
Meltron har nu tecknat ett Memorandum of Understanding med regeringen I Oman om leveranser av lampor till flera projekt och att senare etablera en sammansättningsfabrik i Oman för framtida leveranser.
Meltron has now signed a Memorandum of Understanding with the Government of Oman for the deliveries of luminaries for several projects and for eventually establishing an assembly facility in Oman for future deliveries.
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