SERSTECH AB: Election Committee’s proposal for Serstech’s Annual General Meeting

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The Election Committee of Serstech AB (publ), consisting of Jörg Hübner (Chair), Mathias Albertson and Peter Höjerback, herewith presents its proposal for Serstech’s Annual General Meeting.

The Election Committee proposes as follows:

–    that Sophie Persson be appointed chair of the meeting;
–    that the Board shall consist of four members without alternates;
–    that remuneration to the members of the Board shall total 560,000, allocated such that 200,000 goes to the     Chair of the Board, and SEK 120,000 to each of the other members who are not employed by the company;
–    that Board members Sophie Persson, Sverker Göranson, Thomas Pileby and Anna Werntoft be re-elected; and
–    that Sophie Persson be re-elected as Chair of the Board.

The Annual General Meeting will be held, as previously announced, on Tuesday, 8th May 2018 at 3pm at Elite Hotel Ideon Gateway, Scheelevägen 27 in Lund.


Serstech AB (Publ.) Is required to publish the information in this press release under the EU Market Abuse Regulation. The information was submitted for publication on May 4, 2018 at 11:00.



About Serstech AB
Serstech delivers solutions for chemical identifications and has customers across the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organisations and, since recently also United Nations. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech is traded at Nasdaq First North and you find more information about the company at: www.serstech.com

Certified advisor to Serstech is Västra Hamnen Corporate Finance  AB.

SERSTECH AB: Quarterly report January-March 2018

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New partners in China and  US – strategy adaptation going according to plan


First quarter 2018

     ·                       Net sales: KSEK 1,210 (2,939)

     ·                       Profit for the period: KSEK -3,434 (-722)

     ·                       Earnings per share: SEK -0.06 (-0.02)

     ·                       Earnings per average number of shares: SEK -0.07  (-0.02)

     ·                       Orders delivered to the UN

     ·                       First order of the unique database for chemical warfare agents

CEO’s comments

During the first quarter of 2018 we focused on implementing our new strategy and building distribution channels. During the quarter we signed an agreement with our first systems integrator, who is also our first partner in the important but previously inaccessible (to us) US market. We have also had and continue to have promising and well-advanced discussions with prospective OEM partners, many of whom have global reach, with large distributor networks and own sales forces.

The work carried out during Q1 lays the foundation for Serstech’s forthcoming growth. Throughout the year we will focus on establishing and renewing our three routes to the market – traditional resellers, OEM partners and systems integrators. During Q1 some agreements with previous resellers have been terminated and new ones have been signed, including in China, the United States and several countries in Southeast Asia. Since Serstech has begun to establish itself in the market, we can now attract more competent partners than before and, moreover, on better terms.

Contract negotiations with OEM partners and systems integrators are more complex than with resellers, but despite the complexity a first agreement has already been signed in Q1 and other negotiations are under way. Generally speaking, the agreements may in the short term result in demo sales to the partner’s own sales organization, followed, after market adaptation, by firm orders.

The month of January was all about our rights issue, which generated enormous interest, and when the subscription period closed, the issue was subscribed to 197%. The issue provided the company with more than MSEK 20  after issue costs and was the prerequisite for the current commitment to a renewed go-to-market strategy and a completely revised long-term view of the sales operation.

During this period, we completed the delivery to the UN and we also received a first order for our database for the identification of chemical weapon agents. This order, which came from Romania and Bulgaria, as well as being the first order for the database was also the first major order from Europe. It is of course very gratifying that we received an order worth more than SEK 1.7 million so soon after the launch in November. The order will be delivered and invoiced during May.

Our gross margin during the period was lower than normal, as a majority of orders were for demo products for use by new partners in their sales efforts. In the long term we expect to have gross margins of over 50%, though slightly lower than before, as there will be some volume discounts for our future OEM partners. The slightly lower margin is a direct consequence of our new business model, but the expected higher volume will compensate for this.

During the first quarter a total of five new recruitments were initiated, and we already have one new person in place. The recruitment focus is in sales and marketing, but we are also strengthening R & D so that we can offer better and faster customizations to our major partners. We ship the first instrument under another brand in May.

As previously reported, it takes time to build a professional global distribution channel, and this will result in relatively weak net sales during at least the first half of 2018. The great interest we see from potential partners and the many negotiations we are currently involved in are clear indications that we have a very attractive offering and that the potential in the market is significant.  We continue to be highly optimistic about the future

Stefan Sandor, CEO, Serstech AB (publ)

For further information please contact:
Stefan Sandor,
CEO, Serstech AB
phone +46 739 606067
e-mail: ss@serstech.com

Sophie Persson, 
Styrelseordförande Serstech AB
phone: +46 733 865660
e-mail: sp@serstech.com
or visit www.serstech.com

.


This is information that Serstech 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 08:45 CET on May 5 2018.

About Serstech AB

Serstech raises awareness of chemicals by combining measurements from a hand-held Raman spectrometer, Serstech 100 Indicator, with a secure system solution, ChemDash. The user-friendly solution identifies, manages and analyses chemicals which could affect public safety, such as explosives, narcotics and hazardous materials. Serstech has a global distribution network and main office is in Lund, Sweden and all development and manufacturing are done in Sweden.  Serstech is listed on Nasdaq First North and the company’s certified adviser is Västra Hamnen Corporate Finance AB. Read more: www.serstech.com. 

SERSTECH AB: Serstech signs break-through agreement with US partner

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Serstech has signed an agreement with a well-established, highly specialized US system integrator, which provides high-end system solutions to the US military and several US agencies. The agreement covers both Serstech’s software and hardware products and is the first distribution agreement for Serstech in the US market.

The partner has a significant distribution network from coast to coast and has long-standing relationships within both civil and military defense agencies. The company’s in-house expertise includes a variety of chemical analysis technologies, system solution development and complex system sales. The Serstech 100 Indicator will be the only Raman instrument in the partner’s portfolio.

Serstech today received, as part of the agreement, a 400 KSEK order for technical preparation for system integration of its products and this work will be completed during May. The partner is already participating in several large public tenders, in which Serstech’s software and hardware are parts of the offered solution.

“The US agreement is an important first step on the new path that was defined in the recent strategy update. It is hard to overestimate the significance of this agreement – first system integrator, first US partner and first US order”, says Stefan Sandor, Serstech CEO.

If you have any further questions, please contact Serstech CEO Stefan Sandor at +46 739 60 60 67.

This is information that Serstech 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 14:30 CET on April 11 2018.

About Serstech AB

Serstech raises awareness of chemicals by combining measurements from a hand-held Raman spectrometer, Serstech 100 Indicator, with a secure system solution, ChemDash. The user-friendly solution identifies, manages and analyses chemicals which could affect public safety, such as explosives, narcotics and hazardous materials. Serstech has a global distribution network and main office is in Lund, Sweden and all development and manufacturing are done in Sweden.  Serstech is listed on Nasdaq First North and the company’s certified adviser is Västra Hamnen Corporate Finance AB. Read more: www.serstech.com.

SERSTECH AB: Serstech awarded patent for electronic focus

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The patent covers the use of electronically focus-tunable lenses in Raman instruments and will, once implemented, bring Serstech’s hand-held Raman instrument another step closer to the large, non-portable instruments that reside in laboratories.

The electronically focus-tunable lenses can automatically, and within milliseconds, locate and set the laser focus on the point in the sample where the Raman signal is the strongest. In addition to this autofocus capability, the technology can shift the focus point side-ways and hence allow a much larger sample area to be measured and multiple measurement points to be included automatically.

The solution will enable more accurate measurements, better capability to identify components of a mixture of chemicals and better ability to handle measurements of samples inside containers with thick walls.

Serstech is currently in discussions with possible suppliers of the focus-tunable lenses and the launch of the new technology is planned for 2019.

If you have any further questions, please contact Serstech CEO Stefan Sandor at +46 739 60 60 67.

About Serstech AB

Serstech raises awareness of chemicals by combining measurements from a hand-held Raman spectrometer, Serstech 100 Indicator, with a secure system solution, ChemDash. The user-friendly solution identifies, manages and analyses chemicals which could affect public safety, such as explosives, narcotics and hazardous materials. Serstech has a global distribution network and main office is in Lund, Sweden and all development and manufacturing are done in Sweden.  Serstech is listed on Nasdaq First North and the company’s certified adviser is Västra Hamnen Corporate Finance AB. Read more: www.serstech.com.

SERSTECH AB: Serstech signs distribution agreement with Chinese partner

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Serstech has appointed the Shenzhen-based company Smile Electronics Ltd as a distribution partner for the Chinese market. Smile is an expert in high-tech products within the forensic, security and law enforcement fields and has over the past 15 years developed a strong domestic network, with a primary focus on the central and the coastal regions where most of the country’s business is conducted.

Smile has already placed and paid for its first order, which has been delivered this week.  The order includes demo instruments that will be used by the distributors’ own sales force and is of relatively low value.

“Smile Electronics has the expertise and experience needed to sell advanced technology to highly demanding customers. We are happy to welcome Smile to the Serstech team”, says Stefan Sandor, Serstech CEO.

As previously announced, Serstech is in the process of reviewing and renewing its distribution channel, which will consist of distributors, OEM partners and system integrators. The addition of Smile Electronics Ltd is part of this process and significantly strengthens Serstech’s presence and capability in mainland China.

If you have any further questions, please contact Serstech CEO Stefan Sandor at +46 739 60 60 67.

This is information that Serstech 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 11:30 CET on April 4 2018.

About Serstech AB

Serstech raises awareness of chemicals by combining measurements from a hand-held Raman spectrometer, Serstech 100 Indicator, with a secure system solution, ChemDash. The user-friendly solution identifies, manages and analyses chemicals which could affect public safety, such as explosives, narcotics and hazardous materials. Serstech has a global distribution network and main office is in Lund, Sweden and all development and manufacturing are done in Sweden.  Serstech is listed on Nasdaq First North and the company’s certified adviser is Västra Hamnen Corporate Finance AB. Read more: www.serstech.com.

SERSTECH AB: Serstech wins its first major European order

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Serstech has received an order worth 170 KEUR (1.7 MSEK) from Romania and Bulgaria. This is the first major order to European authorities, end customers being the General Inspectorate of Romanian Police and the Bulgarian Ministry of the Interior. The order includes the Serstech 100 Indicator and the Chemical Warfare Agents Database.

Serstech has developed the Chemical Warfare Agents Database in collaboration with European partners and since November 2017 has held a license from ISP, the Inspectorate of Strategic Products, to develop and export the database. The license is required because the database is classified as military equipment, since it contains information that can be used in conjunction with Serstech’s indicator to identify chemical weapons.

“The Romanian order is significant for several reasons – first of all, it is our largest order so far to European authorities and, secondly, it is our first order for our narrowest niche product – the chemical warfare database. We have seen increasing interest in the database, and the fact that we have received a relatively large order so soon after its launch bodes well for the future,” says Stefan Sandor, CEO of Serstech.

The delivery is planned to take place in May 2018.

If you have any further questions, please contact Serstech CEO Stefan Sandor at +46 739 60 60 67.

This is information that Serstech 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 14:40 CET on March 1 2018.


About Serstech AB

Serstech raises awareness of chemicals by combining measurements from a hand-held Raman spectrometer, Serstech 100 Indicator, with a secure system solution, ChemDash. The user-friendly solution identifies, manages and analyses chemicals which could affect public safety, such as explosives, narcotics and hazardous materials. Serstech has a global distribution network and main office is in Lund, Sweden and all development and manufacturing are done in Sweden.  Serstech is listed on Nasdaq First North and the company’s certified adviser is Västra Hamnen Corporate Finance AB. Read more: www.serstech.com.

SERSTECH AB: Serstech AB rights issue reaches a subscription rate of 197 percent

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The subscription period of the rights issue in Serstech AB ended on January 30, 2018 and the result indicates that the rights issue was subscribed for to a total of approximately 197 percent. Through the rights issue, the Company will receive proceeds amounting to approximately SEK 24.6 million before issue costs.

“We are very happy for the high level of interest, from both smaller and larger investors. The proceeds allow us to quickly acquire the resources needed for our continued market expansion”, says Serstech CEO Stefan Sandor.

About Serstech AB

Serstech raises awareness of chemicals by combining measurements from a hand-held Raman spectrometer, Serstech 100 Indicator, with a secure system solution, ChemDash. The user-friendly solution identifies, manages and analyses chemicals which could affect public safety, such as explosives, narcotics and hazardous materials. Serstech has a global distribution network and main office is in Lund, Sweden and all development and manufacturing are done in Sweden.  Serstech is listed on Nasdaq First North and the company’s certified adviser is Västra Hamnen Corporate Finance AB. Read more: www.serstech.com.

For further information, please contact:

Stefan Sandor, CEO Serstech AB

+46 739 – 60 60 67

ss@serstech.com