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Acconeer receives order from SweIoT worth USD 104,000

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The order relates to Acconeer's XM122 IoT Module, for use in inventory tracking modules. SweIoT is a Swedish expert company within IoT and sensors providing both products and services to customers.

CEO Lars Lindell comments: "We have worked with SweIoT as a partner for several years and this volume order is a confirmation that Acconeer's popular XM122 radar module is a great fit for SweIoT's energy-efficient IoT products with compact design. Inventory tracking and other applications within logistics is an interesting area where we are confident that we will see good progress going forward."

In addition to publicly announced orders, Acconeer continuously receives orders of smaller amounts which are not publicly announced as they are not considered to affect the share price.

For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on May 11, 2023, 10:15.

The following documents can be retrieved from beQuoted
Acconeer-receives-order-from-SweIoT.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer receives order from Japanese MSK worth USD 138k

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The order relates to Acconeer's A121 radar sensor for mass production of customer products in the industry and agriculture segment. Micro Summit K.K. (MSK) is a leading distributor of Micro-electronics components, electronics modules and electro-mechanical components in Japan.

CEO Lars Lindell comments: "We are very pleased to receive our first high-volume order of the new A121 radar sensor, which confirms that we have customers in the pipe already for A121-based products." 

In addition to publicly announced orders, Acconeer continuously receives orders of smaller amounts which are not publicly announced as they are not considered to affect the share price.

For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

 

This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on May 08, 2023, 10:30.

The following documents can be retrieved from beQuoted
Acconeer-receives-order-from-MSK.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Important step towards new 60 GHz regulation in the US

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Acconeer welcomes the FCC Fact Sheet "Allowing Expanded Flexibility and Opportunities for Unlicensed Operations in the 60 GHz Band" published by the Federal Communications Commission (FCC) yesterday. The fact sheet is in line with the proposal submitted by Acconeer and other companies last year.

"The proposal covers everything we need to expand our business in the US and other regions that traditionally follow FCC regulation such as Canada, Mexico, Brazil. We have several customers, both in the US and internationally, that are ready to launch products in the US once this new regulation is effective", says Lars Lindell, CEO, Acconeer.

From Acconeer we have previously communicated that we estimate that the new regulation will be effective by summer 2023, and the fact that the topic is on the agenda for FCC's next meeting strengthens this belief.

For additional information, please contact:

Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

The following documents can be retrieved from beQuoted
Important-step-towards-new-60GHz-regulation-in-US.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Bulletin from the annual general meeting of Acconeer AB on 27 April 2023

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The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

Acconeer AB (the "Company") held its annual general meeting on 27 April 2023. At the annual general meeting, the following resolutions were made.

Adoption of the income statement and balance sheet

The annual general meeting resolved to adopt the board of directors' proposal for the income statement and the balance sheet for the fiscal year of 2022.

Disposition of the Company's profit or loss

The annual general meeting resolved, in accordance with the board of directors' proposal, that no dividend is paid and that the Company's funds available for distribution is carried forward.

Discharge from liability

The annual general meeting resolved to grant discharge from liability to all persons who have had the position of board member or CEO in the Company during 2022.

Election on the board of directors and auditor, and determination of fees

The annual general meeting resolved to re-elect Bengt Adolfsson, Lars-Erik Wernersson, Git Sturesjö Adolfsson, Thomas Rex and Johan Paulsson. Thomas Rex was re-elected as chairman of the board of directors.

The annual general meeting resolved that the fees to the board of directors, for the period until the next annual meeting, shall be paid out with a total of seventeen (17) price base amounts (Sw. prisbasbelopp), of which five (5) price base amounts to the chairman and three (3) price base amounts to each of the other members elected by the annual general meeting who are not employed by the Company.

The annual general meeting resolved to elect the registered audit company KPMG AB as the Company's auditor until the end of the next annual general meeting. Fees to the auditor shall be paid according to approved invoice.

Directed issue of warrants and approval of transfer of warrants

The annual general meeting resolved, in accordance with the board of directors' proposal, on the warrant-based incentive program Warrant Program 2023/2027 by (A) issuance of warrants of series 2023/2027 to the Company's wholly-owned subsidiary and (B) approval of the transfer of warrants 2023/2027 from the subsidiary to individuals who are or will be employed by the Company (individuals employed for a fixed time period are excluded) including the CEO ("Employees").

No more than 500,000 warrants shall be issued to the subsidiary with the right and obligation for the subsidiary to later transfer the warrants to the Employees. The warrants shall be transferred by the subsidiary on 15 March 2024, or on the later date decided by the board of directors, the transfer shall be made at market value at the respective transfer dates and warrants shall be allotted in accordance with the principles set forth in the board of directors' proposal. Subscription of shares under the warrants may take place during the period from 24 March 2027 until 5 May 2027. The premium per share shall be transferred to the free share premium reserve (Sw. fria överkursfonden). The subscription price per share shall correspond to 150 per cent of the volume-weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days ending on 8 March 2024, however, the subscription price per share shall never be less than the quota value of the share. The maximum dilution effect of the program is approximately 1.86 per cent.

Authorisation for the board of directors to resolve on issue of shares

The annual general meeting resolved to authorise the board of directors to, until the next annual general meeting, on one or more occasions, resolve to increase the Company's share capital by issue of no more than shares corresponding to twenty-five (25) per cent of the total number of shares in the Company at the time of the annual general meeting's decision of authorisation. The board of directors may deviate from the shareholders' preferential rights. The reason for the board of directors' authorisation to deviate from the shareholders' preferential rights is to enable the Company to raise new capital and to take advantage of future opportunities to attract new long-term owners, and to finance the Company's growth strategy. The authorisation also includes the right to decide on payment for the issued shares by set-off, in kind or with other conditions as referred in Chapter 13 Section 5 item 6 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)). At a deviation from the shareholders' preferential rights, the issue rate shall be determined in accordance with market conditions, taking into account any discount on market terms.

________________

For more detailed information regarding the content of the resolutions, please refer to the press release published on 23 March 2023 and the complete notice of the annual general meeting. The notice of the annual general meeting and complete proposals regarding the resolutions of the annual general meeting are available on the Company's website, www.acconeer.com.

For further information, please contact:

Lars Lindell, CEO

Tel. +46 (0) 10 218 92 00

ir@acconeer.com

www.acconeer.com

The following documents can be retrieved from beQuoted
Acconeer Bulletin-AGM-2023.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Interim report Q1 2023

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In the first quarter 2023, Acconeer's net sales amounted to kSEK 10,131. More than 20,000 modules and 116,000 sensors were sold. In total, Acconeer has sold 1,589,665 radar sensors and 134,979 modules since launch. In the quarter 303 evaluation kits were sold, and an accumulated 6,244 EVKs have been sold since launch. The gross margin in Q1 was 60% and six new customer products were launched.

CEO Lars Lindell comments: "The biggest news in Q1 2023 was that we could declare our A121 sensor ready for mass production, and customers can now buy it in volume from our distributors. Otherwise the quarter was weaker than expected, which is due to that our customers are reducing the inventories they built during the previous component shortage. After the end of the quarter, we were happy to receive an important design win in the automotive industry, with one of the world's largest car manufacturing companies."

FIRST QUARTER

  • Net sales for the first quarter amounted to kSEK 10,131 (10,121).
  • The gross margin on sales of goods was 60 (62)%.
  • Result after taxes amounted to kSEK -12,127 (-13,881).
  • Earnings per share before and after dilution was SEK -0,46 (-0,54).
  • The cash flow from operating activities was kSEK -9,732 (-11,125).

 

SIGNIFICANT EVENTS DURING THE FIRST QUARTER

  • Acconeer received order from Digi-Key worth USD 100k.
  • Acconeer's pulsed coherent radar sensor A121 ready for mass production.
  • Acconeer launched first A121-based radar module – XM125 Entry+ Module.
  • Acconeer signed manufacturing agreement with leading semiconductor supplier.

 

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

  • Acconeer signed distribution agreement with Korean TecAhead.
  • Acconeer received automotive design win with a forecasted value of USD 800k.

 

The interim report is attached to this press release and available through Acconeer's website: https://investor.acconeer.com/en/financial-reports/.

For additional information, please contact:

Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

 

This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on April 21, 2023, 07:30.

The following documents can be retrieved from beQuoted
Q1-report-2023.pdf
Acconeer-Q1 2023 ENG 230421.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer receives automotive design win with a forecasted value of USD 800k

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Acconeer has received a design win for access control, which allows touchless opening of the trunk of a car using the A121 pulsed coherent radar sensor, with one of the world's leading multinational automotive manufacturing corporations. The forecasted value of the design win is estimated to USD 800k in the period 2024-2030. By "design win" Acconeer refers to that the company's radar sensor has been selected for use in a customer product, but it is not equivalent to that an order has been placed.

CEO Lars Lindell comments: "We are very happy to be able to announce an automotive design win with a new customer, this time with one of the top five automotive manufacturing corporations in the world. This shows that our progress is on track in the automotive industry, which we believe will be an important business area for us the coming years. It is also the first automotive design win for A121, which was recently launched."

For additional information, please contact:

Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on April 18, 2023, 20.00.

 

The following documents can be retrieved from beQuoted
Acconeer-receives-automotive-design-win.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer signs distribution agreement with Korean TecAhead

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Acconeer and South Korean TecAhead signs a distribution agreement for pulsed coherent radar sensors and modules serving the Korean market. The two companies already have a sales agreement in place, and with the new distribution agreement in place TecAhead will help strengthen Acconeer's position on the Korean market.

Magnus Gerward, head of Business Development comments: "We have worked with TecAhead as sales agents for a few years now, and they have brought in several customers and interesting business leads. It feels great to take the next step for even deeper collaboration and most of all better service to our Korean customers."

With offices in Seoul and Daejeon, TecAhead has since its foundation in 2011 successfully introduced innovative technologies needed for the customers and continues to provide technologies that will define the next decade.

For additional information, please contact:

Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

Magnus Gerward, head of Business Development Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

 

This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on April 18, 2023 10.00.

The following documents can be retrieved from beQuoted
Acconeer-signs-distribution-agreement-with-Korean-Tecahead.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer signs manufacturing agreement with leading semiconductor supplier

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Acconeer has agreed with their semiconductor manufacturer to become a direct customer. As of today, all details are agreed upon and a contract has been signed by the two companies. The supplier is one of the world's leading semiconductor contract manufacturing companies, where Acconeer produces their semiconductor wafers.

CEO Lars Lindell comments: "This contract with one of our most important suppliers, and a leading actor in the semiconductor industry, means a deeper co-operation as well as more favorable wafer prices and substantially improved payment terms which will reduce the working capital necessary for Acconeer's rapid growth."

For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on March 30, 2023, 09:50.

The following documents can be retrieved from beQuoted
Acconeer-signs-agreement-to-become-direct-customer-of-semico.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer launches first A121-based radar module – XM125 Entry+ Module

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The previously announced XM125 Entry+ Module with ultra-low power consumption, outstanding system cost and solderable design has today been shipped to distributors and will be available for customers to buy in the next few days. It is the first module from Acconeer featuring the A121 Pulsed Coherent Radar sensor. An evaluation kit (EVK), XE125, making it possible for customers to evaluate and develop their XM125-based products is also delivered today.

Thanks to its small footprint and solderable design, the XM125 Entry+ Module is optimal for customers' integration into mass-produced solutions. In combination with the XE125 EVK, and support in reference applications and Exploration Tool, this enables smooth product development and short time-to-market.

Mikael Rosenhed, Head of Product Management, comments: "With the rich data from the A121 sensor, we have been able to write a module software that pushes performance and current consumption to the limits, and we are proud to say that this is our most power-efficient module to date without compromising on data quality or accuracy. We know that we have many customers waiting for the first A121-based module, and we are excited to see what innovative products they will create based on the XM125."

Acconeer's first module, the ARM Cortex M7-based XM112 High-Performance Module, was released in December 2018, allowing customers to evaluate their use cases on an embedded system with high performance. Since then, the module portfolio has been extended and with the release of the XM125 there will be a total of six modules available in three different segments: High-Performance Modules for customers who want high processing power, IoT Modules for use cases where built-in connectivity is needed and Entry Modules for lowest possible system cost.

For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com
Mikael Rosenhed, Head of Product Management Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com

This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on March 27, 2023 14.00.

The following documents can be retrieved from beQuoted
XM125-Entry-Module-now-launching.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Notice of Annual General Meeting 2023 in Acconeer AB (publ)

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The Annual General Meeting of Acconeer AB (publ), reg. no. 556872-7654, (the "Company") will be held on 27 April 2023 at 17:30, Clarion Hotel & Congress Malmö Live, Dag Hammarskjölds Torg 2 in Malmö.

Notification etc.
Those who wish to participate in the annual general meeting must:

(i)  be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances as per the record date of 19 April 2023; and

(ii)  give notice of intent to participate no later than 21 April 2023. Notification shall be made either in writing to Acconeer AB, att: Jenny Olsson, Västra Varvsgatan 19, SE-211 77 Malmö, or by email, info@acconeer.com.

The notice shall include full name, personal identification number or corporate registration number, address and daytime telephone number and, where appropriate, information about representative, proxy and assistants. The number of assistants may not be more than two (2). The notification should, where appropriate, be accompanied by proxies, registration certificates and other documents of authority.

In order to be entitled to participate in the meeting, a shareholder whose shares are registered in the name of a nominee must, in addition to giving notice of participation in the annual general meeting, register its shares in its own name so that the shareholder is listed in the share register as of the record date of 19 April 2023. Such re-registration may be temporary (so-called voting rights registration), and a request for such voting rights registration shall be made to the nominee, in accordance with the nominee's routines, at such time in advance as decided by the nominee. Voting rights registration that has been made by the nominee no later than the second banking day after 19 April 2023, will be taken into account in the presentation of the share register.

Proxies etc.
If a shareholder is to vote through a proxy, a written, dated and signed proxy by the shareholder must be provided at the general meeting. The proxy may not be older than one (1) year, unless longer validity (maximum of five (5) years) is stated in the proxy. If the proxy is issued by a legal entity, the current registration certificate or equivalent authorisation document for the legal entity must also be provided. To facilitate an easier passing, a copy of the proxy and other documents of authority should be enclosed with the registration for the general meeting. Proxy forms will be kept available on the Company's website, www.acconeer.com, and at the Company's head office and will be sent by post to shareholders who contact the Company and state their address.

Proposed agenda

  1. Opening of the meeting.
  2. Election of chairman of the meeting.
  3. Election of one or two persons to approve the minutes.
  4. Preparation and approval of the voting list.
  5. Approval of agenda.
  6. Determination as to whether the meeting has been duly convened.
  7. Presentation of the annual report and the auditor's report.
  8. Address by the CEO.
  9. Resolution on:
    1. Adoption of the income statement and balance sheet.
    2. Disposition of the Company's profit or loss according to the established balance sheet.
    3. Discharge from liability of the board of directors and the CEO.
  10. Determination of fees to the board of directors and the auditors.
  11. Election of the board of directors and the auditor.
  12. Resolution on:
    1. Directed issue of warrants (Warrant Program 2023/2027).
    2. Approval of transfer of warrants.
  13. Resolution on authorisation for the board of directors to resolve on issue of shares.
  14. Closing of the meeting.

 

Item 2 Election of the chairman of the meeting
The board of directors has proposed that attorney at law (Sw. advokat) Henric Stråth, Moll Wendén Law Firm, be elected chairman of the meeting.

Item 9.B – Resolution on disposition of the Company's profit or loss
The board of directors has proposed to the 2023 annual general meeting that no dividend is paid and that the funds at the disposal of the general meeting are carried forward.

Item 10 Determination of fees to the Board and the auditor
A group of shareholders have proposed that the fees to the board of directors, for the period until the next annual general meeting, be paid out with a total of seventeen (17) price base amounts (Sw. prisbasbelopp), of which five (5) price base amounts to the chairman and three (3) price base amounts each to the other members elected by the annual general meeting who are not employed by the Company.

The board of directors has proposed that the fee to the auditor is to be paid according to approved invoice.

Item 11 Election of the board of directors and auditor
A group of shareholders have proposed that the number of board members shall be five (5), that the number of auditors shall be one (1), and that no deputy auditors shall be appointed.

A group of shareholders have proposed that the board of directors shall consist of the following members: Bengt Adolfsson (re-election), Lars-Erik Wernersson (re-election), Git Sturesjö Adolfsson (re-election), Thomas Rex (re-election) and Johan Paulsson (re-election). It is proposed that Thomas Rex is re-elected chairman of the board.

Information regarding the proposed members of the board of directors is available on the Company's website, investor.acconeer.com.

Furthermore, it has been proposed that the registered auditing company KPMG AB is elected for the period until the end of the next annual general meeting. KPMG AB has announced that, should the annual general meeting approve the proposal, the authorised public accountant Jonas Nihlberg will be the auditor-in-charge.

 

Item 12 Proposal for a decision on the directed issue of warrants and approval of the subsidiary's transfer pursuant to Chapter 16 section 4 second paragraph of the Companies Act

Background and motive
The board of directors has proposed that the annual general meeting resolves on a warrant-based incentive program for the individuals who are or will be employed by the Company (individuals employed for a fixed time period are excluded) including the CEO of the Company ("Employees") in accordance with the conditions set out below ("Warrant Program 2023/2027").

The purpose of the proposed program and the reasons for the deviation from the shareholders' preferential rights are that the board of directors believes that a warrant program that allows the Employees to gain access to the Company's value development promotes participation and accountability and brings increased motivation to promote favourable economic development in the Company. An incentive program is also expected to contribute to the recruitment and retention of competent, motivated and committed employees.

In light of the above, the board of directors proposes that the annual general meeting resolve to (A) issue warrants of series 2023/2027 to the Subsidiary (as defined below) and (B) approve the transfer of warrants series 2023/2027 from the Subsidiary to the Employees in accordance with item 12.B below. Items (A) and (B) constitute an overall proposal and shall be resolved upon as one resolution by the annual general meeting.

Item 12.A – Directed issue of warrants
For the implementation of Warrant Program 2023/2027, the board of directors proposes that the annual general meeting resolves to issue a maximum of 500,000 warrants of series 2023/2027, implying an increase in the share capital upon full exercise with a maximum of SEK 25,000.

For the decision, the following conditions shall apply:

  1. No more than 500,000 warrants shall be issued.
  2. With the exception of shareholders' preferential rights, the subscriber shall be the Company's wholly-owned subsidiary Acconeer Incentive AB, reg. no. 559156-2474 (the "Subsidiary"), with the right and obligation for the Subsidiary to transfer the warrants to the Employees in accordance with item B below.
  3. The warrants shall be issued free of charge to the Subsidiary.
  4. Subscription of warrants shall be made on a special subscription list within two weeks from the date of the issue resolution. The board of directors is entitled to extend the subscription period. Over-subscription cannot occur.
  5. Each warrant entitles the holder to subscribe for one (1) share in the Company.
  6. Subscription of shares under the warrants may take place during the period from 24 March 2027 up to and including 5 May 2027. The premium per share shall be transferred to the free share premium reserve (Sw. fria överkursfonden).
  7. The subscription price per share shall correspond to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days ending on 8 March 2024, however the subscription price per share shall never be less than the quota value of the share. The subscription price shall be rounded to the nearest SEK 0.01, whereupon SEK 0.005 shall be rounded upwards.
  8. The shares subscribed for on the basis of the warrants shall entitle the holder to a distribution of profits for the first time on the first record date of dividends that occur after the subscription of shares has been exercised through the exercise of the warrants.
  9. Applicable re-calculation terms and other terms and conditions for the warrants can be found in "Terms and conditions for warrants series 2023/2027 for new subscription of shares in Acconeer AB (publ)".
  10. The board of directors, or the one the board of directors appoints, is authorised to make minor adjustments to the annual general meeting's decisions and attachments that may prove necessary in connection with the registration with the Swedish Companies Registration Office or, where applicable, Euroclear Sweden AB.

Item 12.B – Approval of transfer of warrants to Employees
Warrant Program 2023/2027 shall be carried out mainly as described below.

  1. The warrants shall, for payment, be transferred by the Subsidiary on 15 March 2024, or on the later date decided by the board of directors, to the Employees in accordance with the guidelines set out below.
  2. Transfer according to item 12.B.1 shall be made at market value at the respective transfer dates, which shall be determined by Optionspartner AB or another independent valuation institute, using the Black & Scholes valuation model.
  3. Warrants shall be allotted in accordance with the following guidelines:
  • On each respective transfer date, every Employee shall be given the opportunity to acquire warrants to an amount equivalent to no more than one fifth (1/5) of the Employee's annual income prior to income tax.
  • No more than 500,000 warrants in total may be allotted on each occasion.
  1. There will be no guaranteed allotment and over-subscription cannot occur. In case the subscription of warrants exceeds the highest amount of warrants which may be allotted, allotment of warrants will be made proportionally in accordance with each Employee's annual income prior to income tax or, to the extent that allotment cannot be made this way, by the drawing of lots.
  2. Transfer of warrants may not take place after the annual general meeting 2024, after which non-transferred warrants shall be cancelled. Such cancellation of warrants shall be reported to the Swedish Companies Registration Office for duly registration.
  3. The right to transfer warrants in Warrant Program 2023/2027 assumes that (i) the Employee holds his/her position or has signed an agreement thereon by the time of the allotment and not announced or been informed at that time that the employment is intended to be terminated, (ii) that acquisition of warrants can take place in accordance with applicable laws and, according to the board of directors' assessment, can be executed with reasonable administrative costs and financial efforts, and (iii) that the Employee and/or, in applicable cases, the participant's company has entered into an agreement with the Company, according to which the Company, or the one the Company assigns, under certain circumstances has the right to repurchase the warrants from the participant/company if the participant's employment/consultancy assignment ceases or if the participant/company wishes to transfer the warrants before they can be exercised for subscription of shares. The board of directors has the right to make the reasonable changes and adjustments to the terms and conditions of the agreement that are deemed suitable or appropriate as a result of local employment law or tax law or administrative conditions.
  4. For participants in other jurisdictions than Sweden, it is implied that transfer of warrants is legally possible and that transfer, in the board of directors' opinion, can be carried out with reasonable administrative and financial efforts at their established fair market value. The board of directors shall be authorised to adjust the terms and conditions of the Warrants Program 2023/2027 to the extent required in order for allotment of warrants to participants in other jurisdictions, to the extent practically possible, to be carried out under the same conditions imposed by the Warrants Program 2023/2027.

Award criteria
No award criteria, beyond what is stated in item 12.B.6 above, have been resolved upon to receive allocation in the incentive program. The board of directors believes that a broad program that includes all Employees provides the best conditions to achieve the board of directors' goals of implementing the program: committed, motivated and competent co-workers.

Valuation
Subscription of the warrants shall be made at a price equal to the warrant's fair market value the day of subscription. The warrants' fair market value, according to a preliminary valuation based on assumptions of the market value of the underlying share of SEK 38.57 at subscription and an exercise price of SEK 57.85 per share, SEK 7.44 per warrant. The Black & Scholes valuation model has been used for the valuation, assuming a risk-free interest rate of 2.643 per cent and a volatility assumption of 48.6 per cent, taking into account the expected dividends and other value transfers to the shareholders. With respect to restrictions on disposal of, and the illiquidity in the warrants, a so-called illiquidity discount of 15.1 per cent has been applied to the warrants' value. The final price for the warrants will be established in connection with each subscription occasion to the Employees and will be based on market conditions prevailing at that time.

Costs
Since the warrants are subscribed for at market value, the Company is of the opinion that there will be no social costs for the Company as a result of the issue. However, some costs may arise if the subscription price exceeds the initially estimated market value. The costs will therefore mainly consist of limited costs for the implementation and administration of the warrants. Warrant Program 2023/2027 is not expected to entail any costs of significance to the Company. For this reason, no measures for hedging the program have been taken.

Dilution, previous incentive programs and effects on key ratios
As per the day of this proposal, there are 26,331,798 shares in the Company. Assuming that all warrants that can be issued under Warrant Program 2023/2027 are exercised for subscription of new shares, the number of shares and votes in the Company will increase by 500,000, which corresponds to a dilution of approximately 1.86 per cent of the number of shares and votes in Company. The dilution is expected to have a marginal impact on the Company's key ratios.

The Company currently has five ongoing share-based incentive programs: Warrant Program 2020/2023, Warrant Program 2021/2024:1, Warrant Program 2021/2024:2, Warrant Program 2022/2026 and Warrant Program 2023/2026.

The annual general meeting resolved on 14 April 2020 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 4 of these, through Warrants Program 2020/2023. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 1 May 2023 to and including 30 June 2023, call for subscription of a new share in the Company at a subscription price corresponding to 120 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period from 31 March 2020 until 13 April 2020.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 82,497 of these, through Warrant Program 2021/2024:1. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 May 2024 to and including 30 September 2024, call for subscription of a new share in the Company at a subscription price corresponding to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days ending on 23 April 2021.

The annual general meeting resolved on 27 April 2021 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 192,862 of these, through Warrant Program 2021/2024:2. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 15 November 2024 to and including 31 Mars 2025, call for subscription of a new share in the Company at a subscription price corresponding to 130 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 28 October 2021.

The annual general meeting resolved on 26 April 2022 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 76,485 of these, through Warrant Program 2022/2026. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 3 December 2025 to and including 16 January 2026, call for subscription of a new share in the Company at a subscription price corresponding to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 11 November 2022.

The annual general meeting resolved on 26 April 2022 to issue a maximum of 300,000 warrants to the Subsidiary, which as of today holds 166,197 of these, through Warrant Program 2023/2026. The incentive program includes the persons who are or will be employed by the Company (but not fixed-term employees) including the CEO of the Company. The warrant holders have the right to, during the period from and including 25 March 2026 to and including 8 May 2026, call for subscription of a new share in the Company at a subscription price corresponding to 150 per cent of the volume weighted average price according to Nasdaq First North Growth Market's official curriculum list for shares in the Company during the period of ten (10) trading days beginning on 3 March 2023.

If (i) all outstanding warrants issued in connection with the ongoing incentive programs, excluding the warrants held by the Subsidiary, are exercised in full for subscription of shares, (ii) the general meeting resolves on the implementation of Warrant Program 2023/2027 in accordance with the proposal, and (iii) all warrants that can be issued in or in connection with Warrant Program 2023/2027 are exercised for subscription of shares, the number of shares and votes in the Company will increase by 1,481,955, which corresponds to a total dilution of approximately 5.33 per cent of the number of shares and votes in the Company.

The above estimates are subject to revaluations of the warrants under the usual translation terms contained in the full terms. All dilution effects have been calculated as the number of additional shares in relation to the number of existing plus additional shares.

Preparation of the proposal
The proposal for resolution on the implementation of Warrant Program 2023/2027 and the proposals of resolutions according to item 12.A and 12.B above, have been prepared by the board of directors together with external advisors. Board members will not be allotted. The CEO, who may be granted warrants in Warrant Program 2023/2027, has not participated in the preparation of the proposal.

Majority requirements
The resolution of the annual general meeting in accordance with the board of directors' proposals under items 12.A-B above is proposed to be adopted as a joint decision. A valid resolution requires that the resolution is supported by shareholders with at least nine tenths (9/10) of both the votes cast and the shares represented at the annual general meeting.

Item 13 – Proposal for a decision regarding authorisation of the board of directors to issue new shares
The board of directors proposes that the meeting authorises the board of directors until the next annual general meeting to, on one or more occasions, resolve to increase the Company's share capital by issue of no more than shares corresponding to twenty-five (25) per cent of the total number of shares in the Company at the time of the meeting's decision of authorisation.

However, such issues may not cause the share capital in the Company to exceed the Company's highest allowed share capital according to the articles of association. The board of directors may deviate from the shareholders' preferential rights. The reason for the board of directors' authorisation to deviate from the shareholders' preferential rights is to enable the Company to raise new capital and to take advantage of future opportunities to attract new long-term owners, and to finance the Company's growth strategy. The authorisation also includes the right to decide on payment for the issued shares by set-off, in kind or with other conditions as referred in Chapter 13, section 5, item 6 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)). At a deviation from the shareholders' preferential rights, the issue rate shall be determined in accordance with market conditions, taking into account any discount on market terms.

For a valid resolution on the proposal in this item, the proposal has to be supported by shareholders representing at least two-thirds (2/3) of the votes cast as well as shares represented at the meeting.

Available documents
The complete proposals and other documents that shall be made available prior to the annual general meeting pursuant to the Swedish Companies Act will be made available at the Company and at the Company's website, www.acconeer.com, at least three weeks prior to the annual general meeting. The documents will also be sent free of charge to shareholders who so request and provide their address to the Company. In other respects, the board of directors' complete proposals for resolutions are stated in the notice.

Information at the annual general meeting
The board of directors and the CEO shall, if any shareholder so requests and the board of directors believes that it can be done without material harm to the Company, provide information regarding circumstances that may affect the assessment of an item on the agenda and circumstances that can affect the assessment of the Company's or its subsidiaries' financial situation and the Company's relation to other companies within the group.

Shareholders who wish to submit a question in advance can do so by mail to Jenny Olsson at the address Acconeer AB, Att: "AGM 2023" Västra Varvsgatan 19, SE-211 77 Malmö or by email to info@acconeer.com. Submissions should include the name of the shareholder including such shareholder's personal or organisation number. It is also recommended that the submission includes the shareholder's postal address, email address and telephone number.

Shares and votes in the Company
The total number of shares and votes in the Company amount to 26,331,798, as per the date of this notice. The Company does not hold any own shares.

Processing of personal data
For information on how your personal data is processed, the Company refers to the integrity policy available on Euroclear Sweden AB's website https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.

____________

Malmö in March 2023
Acconeer AB
The Board of Directors

The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

For further information, please contact:
Lars Lindell, CEO
Tel. +46 (0)10 218 92 00
ir@acconeer.com
www.acconeer.com 

The following documents can be retrieved from beQuoted
Acconeer Notice-AGM-2023.pdf

About Acconeer AB

With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.