ASTG announces that it has reached an agreement with a major defense contractor for the previously announced IMU development project

ASTG to immediately start IMU development project with major defence contractor

As earlier announced on December 12, 2019, ASTG has been selected as the primary supplier of IMUs to a major defense contractor, and in turn signed a Letter of Intent with the aim of negotiating an IMU development project. An agreement has now been reached on starting this development project and ASTG is commencing the design and specification work together with the customer. It is expected that the development project will go on for 12 to 18 months before starting a full system test of the customer's product, with the IMU from ASTG as a key component.

The program will be milestone driven and orders as well as payments will be released by the customer as the project progresses. ASTG has initially received an order of 0,5 MSEK to start the development work right away.

"I am very pleased to announce that we have reached this agreement with our customer to start the development work on the IMU for their product. Our relationship is steadily moving forward as planned. As anticipated and previously communicated, ASTG will receive IMU volume orders when the customer start receiving orders from their customers. As this is government business, the exact timing of such orders is uncertain at this stage, but nothing has indicated any change in the volumes as previously communicated to ASTG by the customer.", says Carsten Drachmann, CEO at ASTG in a comment.

Carsten Drachmann, CEO

e-post: carsten.drachmann@astg.se

Telefon: +45 4063 4036

ASTG includes the wholly owned subsidiary AIMS AB.

https://www.astg.se/en/

ASTG AB develops, manufactures and sells innovative 4-axes stabilizing VSAT antennas for maritime use. The company is also selling development projects based on C2SAT's antenna platform. AIMS AB develops and sells advanced inertial sensor units (IMUs) designed to measure movements in three dimensions.

The company's registered office is in Stockholm, Sweden.

This information is provided from ASTG AB in accordance with the EU Market Abuse Regulation (MAR). The information was submitted for publication on February 07, 2020 at 11.00 CET, by the above contact person's authority.

For accuracy, please exclusively rely on the Swedish version. Should there be unintentional translation differences between the English and the Swedish press release, the Swedish version will take precedence.

Nerladdningsbara filer

ASTG genomför en riktad emission som tillför bolaget ca 3,5 MSEK och ingår avtal om brygglån om ca 6,5 MSEK med Formue Nord

Styrelsen i ASTG AB (publ) ("ASTG" eller "Bolaget") har idag beslutat, med stöd av bemyndigande från bolagsstämman den 14 maj 2019, om en riktad kontant nyemission om 1 750 000 B-aktier till Formue Nord Markedsneutral A/S ("Formue Nord"). Teckningskursen har fastställts till 2,0 SEK per aktie. I samband med nyemissionen har ASTG ingått ett avtal om brygglån om 6,5 MSEK med Formue Nord.


ASTG conducts a directed rights issue that provides the company with approx. SEK 3.5 million and enters into a bridge loan agreement of approx. SEK 6.5 million with Formue Nord

The Board of Directors of ASTG AB (publ) ("ASTG" or "The Company") today decided, with the support of authorization from the Annual General Meeting on May 14, 2019, to do a directed cash rights issue of 1,750,000 B shares to Formue Nord Markedsneutral A / S ("Formue Nord"). The subscription price has been set at SEK 2.0 per share. In connection with the new rights issue, ASTG has entered into a bridge loan agreement of SEK 6.5 million with Formue Nord.


ASTG tecknar avtal med ReQuTech

ASTG meddelar att företaget nu har tecknat det slutliga avtalet om att förvärva markbunden SatCom on the Move teknik från svenska ReQuTech


ASTG signs agreement with ReQuTech

ASTG announces that it has signed the final agreement to acquire SatCom on the Move for Land technology from Swedish ReQuTech


ASTG-uppdatering om undertecknande av avtal med ReQuTech

ASTG informerar om en kortare försening av undertecknande av avtal med ReQuTech


ASTG update on signing of agreement with ReQuTech

ASTG announces short delay in signing with ReQuTech


ASTG flyttar fram datum för Q1 rapporten 2020

ASTG flyttar fram datum för Q1 rapporten 2020 och lämnar en uppdatering om påverkan av Coronaviruset


ASTG brings forward Q1 2020 reporting

ASTG brings forward Q1 2020 reporting and gives update on Coronavirus impact


ASTG anställer Försäljningschef

ASTG har anställt Henrik Asbjørn som Chief Sales Officer


ASTG hires Chief Sales Officer

ASTG has hired Henrik Asbjørn as Chief Sales Officer


ASTG uppdatering angående Coronavirus

ASTG's verksamhet påverkas inte av Coronaviruset i Q1


ASTG update on Coronavirus

ASTG operations not impacted by Coronavirus in Q1


Bokslutskommuniké 2019

ASTG levererar positiv EBITDA för andra kvartalet i rad


ASTG Year-End Report 2019

ASTG delivers positive EBITDA for the second quarter in a row


ASTG genomför förändring av försäljnings- och marknadsföringsstrategi

IMU ordern från en försvarsentreprenör och det förväntade teknikförvärvet inom satellitkommunikation utlöser förändringar i ASTG:s strategi för försäljning och marknadsföring


ASTG executing strategy to change its Go-to-Market model

IMU order from defense contractor and the recent anticipated technology acquisition in Satellite Communications, triggers change in ASTG sales and marketing strategy


ASTG tecknar preliminärt avtal om teknikförvärv med svenska ReQuTech AB

ASTG utökar sin portfölj med en markbaserad "on the move" lösning


ASTG signs Letter of Intent for Technology Acquisition agreement with Swedish ReQuTech AB

ASTG is expanding its portfolio with a land-based "on the move" solution


ASTG anställer en Chief Sales Officer för att leda försäljningen över alla företag

Ytterligare förstärkning av försäljningsarbetet på ASTG


ASTG hiring a Chief Sales Officer to lead sales across all businesses

Further strenthening of sales efforts at ASTG


Följ oss

Om beQuoted

beQuoted publicerar nyheter, analyser och pressmeddelanden för investerare och journalister. Viktiga företagshändelser bevakas av vår egen nyhetsredaktion och vidaredistribueras i ledande finansiella medier.

Vi uppdaterar även nyhetsrum, Investor Relations och IR-webbplatser för företag som vill utveckla sina relationer med finansmarknaden.

Kontakta oss

beQuoted AB
Sturegatan 32
114 36 Stockholm

08-692 21 90
Kontaktformulär