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press releases (ENGLISH)

2023-05-25
OXE MARINE AB (PUBL) APPOINTS PAUL FRICK AS NEW CEO
2023-05-03
Report From the Annual General Meeting in OXE Marine Ab (Publ) On 2 May 2023
2023-04-19
INTRODUCING THE OXE CONFIGURATOR: CUSTOMIZE YOUR OXE DIESEL OUTBOARD
2023-04-17
OXE MARINE EXPANDS IN SOUTH AMERICA BY APPOINTING NEW DISTRIBUTORS IN BRAZIL AND COLOMBIA
2023-03-31
OXE MARINE AB (PUBL) CONVENING NOTICE FOR ANNUAL GENERAL MEETING
2023-03-28
OXE MARINE EXPAND THEIR FOOTPRINT IN ASIA BY APPOINTING CREATION CO., LTD AS DEALERS FOR JAPAN
OXE Marine is expanding in Asia by appointing Creation Co., Ltd as new dealers for the company's diesel-powered outboards on the Japanese market. Creation Co., Ltd, founded in 1988, offers boat sales, motors, as well as service and repairs.
2023-02-23
OXE MARINE'S WATER JET ENGINE NOMINATED FOR INNOVATION OF THE YEAR AT THE MIAMI INTERNATIONAL BOAT SHOW
2023-02-15
OXE MARINE PRESENTS NEW CONCEPT OUTBOARD OXE HYBRID 450, THE WORLD’S FIRST DIESEL ELECTRIC HYBRID OUTBOARD
2022-12-14
REPORT FROM THE EXTRAORDINARY GENERAL MEETING IN OXE MARINE AB (PUBL) ON 13 DECEMBER 2022
2022-12-13
OXE MARINE SIGN OEM AGREEMENT WITH NIMBUS GROUP
2022-11-24
OXE MARINE AB (PUBL) CONVENING NOTICE FOR EXTRAORDINARY GENERAL MEETING
2022-11-21
CORRECTION - OXE Marine AB (publ)’s directed share issue fully subscribed
2022-11-21
CORRECTION - OXE Marine AB (publ) rev up ambitions and raises SEK 70 m in a directed share issue
2022-11-21
UNI-SAFE A/S SIGN ON AS NEW DANISH DEALERS
2022-11-20
OXE Marine AB (publ)’s directed share issue fully subscribed
2022-11-20
OXE Marine AB (publ) rev up ambitions and raises SEK 70 m in a directed share issue.
2022-11-09
OXE MARINE IMPLEMENTS BIODIESEL IN ALL TESTING, REDUCING NET CO2 EMISSIONS BY UP TO 94% COMPARED TO GASOLINE ALTERNATIVES
2022-10-26
CONDUCTED TESTS OF THE OXE300 ON A POPULAR RECREATIONAL BOAT, SHOWS THAT THE GASOLINE ALTERNATIVE CONSUMES 50 PERCENT MORE FUEL
2022-05-02
Report From the Annual General Meeting in Oxe Marine Ab (Publ) On 2 May 2022
2022-03-30
OXE MARINE AB (PUBL) CONVENING NOTICE FOR ANNUAL GENERAL MEETING
The shareholders in OXE Marine AB (publ), reg. no 556889-7226 (the “Company”), are convened to the annual general meeting of shareholders to be held on Monday 2 May 2022.
2022-03-16
OXE Marine AB (publ) announces outcome of incentive program 2022/2025
2022-02-16
OXE Marine AB (publ) completes the acquisition of Diesel Outboards and Outdoor Network Manufacturing
On 22 December 2021, OXE Marine AB (publ) (NASDAQ STO: OXE) (“OXE” or the “Company”) agreed to acquire 100% of Diesel Outboard’s and Outdoor Network Manufacturing’s US distribution and manufacturing business (the “Transaction”). All closing conditions are now satisfied, and the Transaction has been completed today. The purchase price of USD 10.8 million was financed through an issue of new shares to the selling entity Powersports Plus LLC (“PSP”, a company within the Outdoor Network Group), which was resolved by the extraordinary general meeting (the “EGM”) held today, making PSP the largest shareholder in OXE. As part of completing the Transaction, the EGM elected Martin Polo, CEO of PSP, as new board member in OXE. OXE has received the European Investment Bank’s (“EIB”) approval to the Transaction. OXE has also received the bondholders’ approval to amend and waive certain terms in OXE’s up to MSEK 200 (or its equivalent in NOK and EUR) Senior Secured Callable Fixed Rate Bonds with ISIN SE0010831545, SE0010831594 and NO0010815442 (the “Bonds”), as communicated earlier today. As a result of the completion of the Transaction, Anders Berg is today commencing his new role as CEO of the Company. Anders Berg is simultaneously stepping down as chair of the board while still remaining a board member. The board has today resolved to elect Jonas Wikström as chair of the board until the end of the next annual general meeting.
2022-02-16
Report from extraordinary general meeting in OXE Marine AB (publ) on 16 February 2022
2022-02-16
OXE Marine AB (publ) obtains the bondholders’ approval to amend and waive certain terms in its up to MSEK 200 bonds
On 28 January 2022, OXE Marine AB (publ) (NASDAQ STO: OXE) (“OXE” or the “Company”) communicated that the Company had initiated a written procedure to obtain the bondholders’ approval to amend and waive certain terms in its up to MSEK 200 (or its equivalent in NOK and EUR) Senior Secured Callable Fixed Rate Bonds with ISIN SE0010831545, SE0010831594 and NO0010815442 (the “Bonds”).
2022-01-28
Correction: OXE MARINE AB (PUBL) CONVENING NOTICE FOR EXTRAORDINARY GENERAL MEETING
The correction concerns the time and date for the extraordinary general meeting and the dates for the shareholders’ right to participate in the general meeting. The extraordinary general meeting will be held on Wednesday 16 February 2022 at 2 pm. The other dates regarding the shareholders’ right to participate (italicized below) have been adjusted accordingly. The updated notice in its entirety is set out below.
2022-01-28
CORRECTION – OXE Marine AB (publ) initiates written procedure to amend and waive certain terms in its up to MSEK 200 bonds
The correction concerns the third paragraph. The final redemption date for the bonds is proposed to be postponed by 24 months and not 30 months, until 15 February 2025, as set out below.
2022-01-28
OXE Marine AB (publ) initiates written procedure to amend and waive certain terms in its up to MSEK 200 bonds
OXE Marine AB (publ) (”OXE”) has today initiated a written procedure to amend and to waive certain terms in its up to MSEK 200 (or its equivalent in NOK and EUR) Senior Secured Callable Fixed Rate Bonds with ISIN SE0010831545, SE0010831594 and NO0010815442 (“Bond Terms”). The written procedure is initiated in preparation for the closing of OXE’s acquisition of Diesel Outboards’ and Outdoor Network Manufacturing’s US distribution and manufacturing business as press released by OXE on 22 December 2021 (“Transaction”).
2022-01-28
OXE MARINE AB (PUBL) CONVENING NOTICE FOR EXTRAORDINARY GENERAL MEETING
The board of directors of OXE Marine AB (publ) (the “Company”) convenes an extraordinary general meeting on 16 February 2022 and proposes inter alia that the general meeting resolves to issue new shares to Power Sports Plus, LLC, as payment for the shares in OXE Marine Inc and OXE Marine Manufacturing Inc as press released by the Company on 22 December 2021 (the “Transaction”). This means that the Transaction will be completed on the same date and Anders Berg will simultaneously commence his role as CEO in the Company.
2021-12-22
OXE Marine AB (publ) joins forces with US distributor Diesel Outboards and Outdoor Network Manufacturing to significantly strengthen the focus on commercial and distribution development
OXE Marine AB (publ) (NASDAQ STO: OXE) (OTCQX: CMMCF) (“OXE” or the “Company”) has entered into an agreement to acquire 100% of Diesel Outboards and Outdoor Network Manufacturing’s US distribution and manufacturing business (the “Transaction”). Through the Transaction, OXE significantly strengthens its position in the US market, creating a direct to market model, gaining access to end-user, dealer, governmental and OEM network, following the successful ramp-up of production of OXE300 earlier this year. The purchase price of USD 10.8 million, is to be financed through a share issue in kind to the selling entity Powersports Plus LLC (an Outdoor Network Group company), making them the largest shareholder in OXE. Additionally, Martin Polo, CEO of the Outdoor Network Group, will have a seat on the Board of OXE. The share issue is supported by a majority of shareholders, including the largest owners. The Transaction is subject to approval from the European Investment Bank, the holders of OXE’s corporate bonds and Valley National Bank, the current bank for Diesel Outboards and Outdoor Manufacturing. Closing is expected to take place on 31 January 2022. In conjunction with the transaction, Magnus Grönborg has decided to step-down as CEO due to personal reasons and the Board of Directors has appointed Anders Berg as acting CEO, commencing this role during January but no later than the 31st of January.
2021-12-01
Jet-Tech Propulsion LLC introduces the all-new world’s first ultra-high-performance waterjet (Jet-Tech®) for outboards.
Jet-Tech Propulsion LLC (Jet Tech) (an Outdoor Network LLC company), through a partnership with Diesel Outboards LLC, today introduced the new ultra-high-performance waterjet designed for an outboard diesel engine and more. We now proudly, in collaboration with OXE Marine AB (OXE), offer the industry’s first ultra-high-performance and high efficiency outboard waterjet.
2021-09-17
OXE Marine AB (publ) carries out a directed share issue of MSEK 22.75
The board of directors of OXE Marine AB (publ) (“OXE Marine” or the “Company”) has today, as authorized by the annual general meeting on 16 April 2021, resolved to increase the Company’s share capital by way of a directed issue of 10,435,777 shares to a smaller group of existing investors, including industrial investor Koenigsegg. The shares are issued at a subscription price of SEK 2.18 per share, which corresponds to the volume weighted average price for the Company’s share on Nasdaq First North Growth Market during the period from 3 September 2021 to 16 September 2021, and will raise MSEK 22.75 for the Company.
2021-07-01
OXE Marine AB (publ) announces outcome of incentive program 2021/2025 and additional transfer of warrants of series 2019:2
2021-07-01
Magnus Grönborg, new CEO for OXE Marine AB
Magnus Grönborg has today (1 July 2021) assumed the CEO position for OXE Marine AB (publ) (NASDAQ STO: OXE), (OTCQX: CMMCF).
2021-06-28
Report from extraordinary general meeting in OXE Marine AB (publ) on 28 June 2021
2021-06-12
OXE Marine AB (PUBL) convening notice for extraordinary general meeting
The board of directors of OXE Marine AB (publ) (the “Company”) convenes an extraordinary general meeting on 28 June 2021 to resolve on an adjusted long-term incentive program for senior executives, replacing the warrant program resolved by the annual general meeting on 16 April 2021. The reason for the board of directors’ new proposal is that the theoretical market value for the warrants issued at the annual general meeting, which was determined using the Black & Scholes valuation model, resulted in a significantly higher valuation than in previous incentive programs and that all participants therefore declined to acquire the warrants. Compared to the program resolved by the annual general meeting, the new program will result in a maximum dilution of approx. 1.5 percent (approx. 1 percent) and a price per option corresponding to the quota value of the underlying share. Except for a slightly revised allocation between participants, the terms are in other regards materially identical to the program resolved by the annual general meeting and incurs only insignificantly higher administrative costs for the Company. The board of directors’ full proposal for the new incentive program is set out below.
2021-05-10
Magnus Grönborg to start as CEO of OXE Marine AB (publ) on 1 July 2021
2021-04-16
Report from the annual general meeting in OXE Marine AB (publ) on 16 April 2021
2021-03-16
OXE MARINE AB (publ) CONVENING NOTICE FOR ANNUAL GENERAL MEETING
The shareholders in OXE Marine AB (publ), reg. no 556889-7226 (the “Company”), are convened to the annual general meeting of shareholders to be held on Friday 16 April 2021.
2021-02-10
Successful production start of OXE300 in Poland
The first OXE300 has been assembled and shipped from PanLinks Polish site at the special economic zone of Tczew.
2021-02-09
OXE Marine AB (publ) appoints Magnus Grönborg as CEO and Myron Mahendra as EVP Business Development , Sales and Marketing
The board of directors of OXE Marine AB (publ) (the “Company”) has resolved to appoint Magnus Grönborg as CEO and to reorganize its management team by appointing the current CEO Myron Mahendra as EVP Business Development, Sales and Marketing. In addition, the chairman of the board Anders Berg will increase his operational focus on the company by assuming a supportive operational role with the management team. Magnus Grönborg will replace Myron Mahendra as CEO in a few months, with the closer date yet to be agreed.
2021-02-04
First OXE125-200 assembly in USA
Outdoor Network Manufacturing (ONM) has initiated start of assembly of OXE125-200
2021-01-25
OXE125-200 model year 2021 has been granted approval by EPA
Environmental Protection Agency (EPA) has granted OXE125, OXE150, OXE175 and OXE200 approval for 2021 model year.
2020-12-14
First shipments of OXE200 parts have been delivered to Albany (GA, USA)
In preparation for production of OXE125-200 in Albany (GA, USA) the first shipment of OXE DIesel parts have been delivered. This represents an important milestone in preparing Outdoor Network Manufacturing (ONM) for production of the OXE Diesel in the USA.
2020-11-10
OXE Marine AB distributor Diesel Outboards LLC confirmes order for more than 50 OXE300 from US government for deployment in Central America
OXE Marine AB (the Company) distributor, Diesel Outboards LLC, announced today that Spartan Corporation a premier Dealer for Diesel Outboards LLC has been awarded a US Government multiyear contract to outfit and support operations in Central America.
2020-11-10
OXE Marine AB (“the Company”) has received the official approval and issuance of EPA Tier 3 certificate for OXE300
The EPA certification approval allows OXE Marine AB to sell and distribute our OXE300 in all markets where EPA Tier 3 certificate is required.
2020-10-02
OXE Marine AB (publ) carries out directed share issue of SEK 65.9m to strategic and qualified investors to finance an accelerated growth strategy
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA, NEW ZEALAND, HONG KONG, SINGAPORE OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE MAY BE UNLAWFUL, WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.
2020-09-22
The European Patent Office intends to grant OXE Marine AB (publ) a European patent for an electric duoprop outboard
2020-09-18
OXE Marine AB (publ) and Evoy AS assessing the potential of a high-powered electric outboard
OXE Marine AB (publ) (the “Company”) has today entered into a cooperation agreement with Evoy AS, an electric marine propulsion company based in Norway, to assess the technical and market viability of a high powered electric outboard using Evoy’s proprietary electrical propulsion system and the Company’s patented lower leg to deliver a high powered, high torque application.
2020-09-16
OXE Marine AB (publ) agrees on EUR 2,8 million order for 2021 and resolves not to pursue 50 percent revenue growth target for 2020
OXE Marine AB (publ) (the “Company”) has today signed a letter of intent with current Central and South West US distributor Diesel Outboards LLC (part of the Outdoor Network group) (“ODN”) to expand ODN’s distribution territory to also cover South East US. On signing the definitive distribution agreement, ODN will place an order for OXE units to be delivered during 2021 for a value of approx. EUR 2,8 million. Due to COVID-19 related supply chain disruptions affecting start of production of the OXE300 and the previous decision to stop production at UFAB, the Company has today resolved not to pursue its 50 percent revenue growth target for 2020.
2020-09-14
Oxe Marine AB upgraded to OTCQX from the OTCQB
OTC Markets Group Inc. (https://www.otcmarkets.com/stock/OTCM/quote?utm_source=Press%20Release&utm_medium=Press%20Release&utm_campaign=New%20OTCQX%20Company) (OTCQX: OTCM), operator of financial markets for over 11,000 U.S. and global securities, today announced Oxe Marine AB (https://www.oxemarine.com/) (STO: OXE; OTCQX: CMMCF), a builder of commercial diesel outboard, has qualified to trade on the OTCQX® Best Market. Oxe Marine AB upgraded to OTCQX from the OTCQB® Venture Market.
2020-09-11
Russian governmental services relying on the robustness of OXE Diesel
The first batch of OXE Diesel Engines (10x OXE175) has been delivered to the Russian Rescue Service. Commissioning of the engines is currently undergoing under the supervision of OXE Marine AB distributor Dizel Export LLC.
2020-08-21
The OXE300 has successfully concluded its certification run for EPA and IMO emission test.
OXE Marine AB (“the Company”) has successfully conducted certification run with its OXE300 production engine.
2020-08-18
Mack Boring & Parts Co. and OXE Marine AB team up with the United States Coast Guard
OXE distributor, Mack Boring & Parts Co. to supply four OXE Diesel Outboard units to the United States Coast Guard through a DLA Tailored Logistics Support Contract.
2020-08-17
OXE Marine available for trading on the OTCQB Market in the United States of America
2020-08-11
Parsun to sell OXE Diesel Outboards in China
OXE Marine AB has resolved to initiate a cooperation with Parsun, the largest Chinese outboard engine manufacturer.
2020-07-22
OXE Marine AB (publ) – Assessment of the automotive 2.0 litre turbo diesel engine for next generation of the OXE200 series and co-branding of the OXE300.
OXE Marine AB (publ) (the “Company”) has today entered into a Preliminary Development Agreement (PDA) with the BMW Group to carry out a preliminary study of its 2.0 litre, 4 cylinder turbo diesel engine for marine application - to power the Company’s next generation of OXE200 series. Additionally, both companies have agreed to co-brand the OXE300 to further develop the Company’s marketing and sales strategy with the aim of promoting the premium quality of the product.
2020-07-20
OXE Marine AB (publ) – Q2 2020 preliminary results and business update
OXE Marine AB (publ) (the “Company”) today issues its preliminary results for Q2 2020 with a general update of the business situation. Despite the COVID-19 crisis, the Company has achieved significant improvements across the board including meaningful sales and gross margin, as well as an increase in its order book whilst reducing its cost base. The company is confident in meeting its financial target for 2020 and is now investing further to meet its growth plans for the remainder of 2020 and beyond.
2020-06-11
OXE Marine AB (Publ) delivers first OXE300 units to customer
OXE Marine AB commenced production of their new model, the OXE300, in May. After passing rigorous quality tests, the first units are now ready to be shipped to customers. The production of OXE300 will ramp up and move to new production facility in July.
2020-05-26
OXE MARINE AB to develop manufacturing footprint of OXE diesel outboards (125hp to 200hp series) in the USA. Selects Outdoor Network Manufacturing as manufacturing partner.
Angelhom, Sweden; MAY 26, 2020 Nasdaq (OXE) OXE Marine AB is pleased to announce they have agreed on a manufacturing agreement for OXE Marine world’s first commercial diesel outboards with Outdoor Network Manufacturing (ONM) who will deliver next-gen manufacturing services for OXE. The agreement will develop production of the OXE diesel 125-200 horsepower outboard motors inthe United States with plans to add the 300 horsepower engine production to meet the market demands starting January 2021. The process for selecting the final manufacture site in the USA is ongoing. The decision will be jointly announced later this month.
2020-05-22
Report from annual general meeting in OXE Marine AB (publ) on 22 May 2020
2020-04-21
OXE Marine AB (publ) publishes convening notice for annual general meeting
The board of directors of OXE Marine AB (publ) (the “Company”) publishes convening notice for annual general meeting to be held on Friday 22 May 2020 at 1 pm at Best Western Plus Hus 57, Östergatan 57 in Ängelholm. The board proposes, among other things, that the general meeting authorises the board to issue new shares, warrants and/or convertibles
2020-04-20
OXE Marine AB (publ) – Q1 2020 preliminary results and business update
In view of the general uncertainty about the economic effects of COVID-19, OXE Marine AB (publ) (the “Company”) today issues its preliminary results for Q1 2020 with a general update of the business situation. The Company has achieved significant improvements across the board during Q1 2020 to the comparable period with clear progress to meeting its financial target for 2020. Cash burn rate to be reduced further going forward with serial production of the OXE300 to commence in July 2020.
2020-03-19
OXE Marine AB (publ) – business update and COVID-19 response
2020-03-12
OXE Marine AB (publ) issues warrants to the European Investment Bank
The board of directors of OXE Marine AB (publ) (the “Company”) has resolved, as authorised by the extraordinary general meeting on 30 July 2019, on a directed issue of in total 14,726,154 warrants to the European Investment Bank (“EIB”). EIB has subscribed for all issued warrants.
2020-02-06
OXE Marine - Name change, Vision, Mission and Core values
Oxe Marine AB (Publ) (the “Company”) is an innovator, a game changer. We are driven by the ambition to transform the outboard motor; impacting the journey towards a more sustainable and ecologically positive marine environment. We believe in the dynamics of a strong collaborative approach with both our teams and our partners to deliver products of unprecedented power, reliability and endurance. We believe in being daring and persistent in our passion for excellence, in taking individual responsibility and meeting expectations of our staff, community, customers, suppliers and investors alike.
2020-01-09
Report from extraordinary general meeting in Cimco Marine AB
2019-12-19
Cimco Marine AB (publ) formalizes its agreement in principle with the European Investment Bank
Cimco Marine AB (publ) (“Cimco”) on 9 October 2019 announced that Cimco had reached an agreement in principle with the European Investment Bank (“EIB”) that also directed share issues at a subscription price of SEK 1.5 per share will count towards fulfilment of the conditions precedent for Tranche B under the parties’ credit facility agreement. The agreement in principle has now been documented in a formal agreement between the parties. Following the successful directed share issue of SEK 17.2 million in October 2019, the relevant condition precedent for Tranche B is now fulfilled.
2019-12-10
Cimco Marine AB (publ) publishes convening notice for extraordinary general meeting and proposes to change the Company’s business name
The board of directors of Cimco Marine AB (publ) (the “Company”) publishes convening notice for extraordinary general meeting to be held on Thursday 9 January 2020 at Best Western Plus Hus 57, Östergatan 57 in Ängelholm. The board proposes that the general meeting resolves to change the Company’s business name to OXE Marine AB by amending the articles of association.
2019-11-12
Cimco Marine AB (publ) receives significant order for the OXE300 with a value of approx. EUR 3 million from one of its distributors in the Americas
Cimco Marine AB (publ) has today received orders for the OXE300 from one of its distributors in the Americas in respect to mainly governmental use. The total revenue for this order is approx. EUR 3 million for the base units, excluding accessories, service kits and spare parts.
2019-11-06
Cimco Marine AB (publ) has completed directed share issue of SEK 17,2 million
The directed share issue in Cimco Marine AB (publ) (“Cimco”) resolved by the board of directors on 24 October 2019, as authorized by the annual general meeting on 14 May 2019, has been fully subscribed. A total of 11,451,369 shares have been subscribed for by the guarantee consortium that entered into guarantee commitments in connection with the exercise period for the warrants of series 2019:1. Through the directed share issue, Cimco receives approximately SEK 17,2 million.
2019-10-24
The board of directors of Cimco Marine AB (publ) resolves on a directed share issue of MSEK 17.2
The board of directors of Cimco Marine AB (publ) (the “Cimco”) has resolved, as authorized by the annual general meeting on 14 May 2019, on a directed issue of 11,451,369 shares in Cimco to the guarantee consortium that entered into guarantee commitments in connection with the exercise period for the warrants of series 2019:1. Cimco will receive approximately SEK 17,2 million from the directed share issue.
2019-10-22
Cimco Marine AB receives approximately SEK 33.6m through exercise of warrants and plans for a directed share issue of approx. SEK 17.2m
Cimco Marine AB (publ) (”Cimco” or the ”Company”) receives approx. SEK 33.6m from the exercise of warrants of series 2019:1. In total, 22,381,968 warrants of series 2019:1 were exercised, corresponding to an exercise rate of approx. 66 percent. In addition, the board of directors plans to, by use of the authorization from the Annual General Meeting, resolve on a directed share issue of 11,451,369 shares, corresponding to approx. SEK 17.2m, to the guarantee consortium that entered into guarantee commitments in connection with the exercise period for the warrants of series 2019:1 in order to secure the Company’s capital needs. In total, Cimco will receive approx. SEK 50.8m through the exercise of warrants and the planned directed share issue.
2019-10-14
Cimco Marine AB (publ) receives subscription and guarantee commitments for the exercise of warrants of series 2019:1
In the ongoing exercise period of warrants of series 2019:1 in Cimco Marine AB (publ) (“Cimco Marine”), Cimco Marine has received subscription commitments of approximately SEK 14.3 million, corresponding to approximately 28 percent of the total amount of the warrant issue assuming full utilization. Additionally, Cimco Marine has secured guarantee commitments of SEK 36.5 million, corresponding to approximately 72 percent of the total amount of the warrant issue assuming full utilization. In total, subscription and guarantee commitments amount to approximately SEK 50,8 million, corresponding to 100 percent of the total amount of the warrant issue assuming full utilization. The exercise period for the warrants of series 2019:1 runs between October 4–17, 2019.
2019-10-09
Cimco Marine AB (publ) has an agreement in principle with the European Investment Bank that the company may drawdown Tranche B under the credit facility agreement also through directed share issues
Cimco Marine AB (publ) (“Cimco Marine”) has reached an agreement in principle with the European Investment Bank (“EIB”) that also directed share issues, at a subscription price of SEK 1.5 per share, will count towards fulfilment of the conditions precedent for Tranche B under the credit facility agreement between the parties dated 5 July 2019.
2019-10-04
The exercise period for warrants of series 2019:1 in Cimco Marine AB (publ) begins today
Today, October 4, 2019, the exercise period for warrants of series 2019:1 in Cimco Marine AB (publ) (“Cimco Marine”) begins. The warrants of series 2019:1 were issued in conjunction with the rights issue of units that Cimco Marine conducted during the spring of 2019. The exercise period will continue until October 17, 2019. For each (1) warrant of series 2019:1, holders are entitled to subscribe for a (1) new share in Cimco Marine at a price of SEK 1.50 per share. If all warrants of series 2019:1 are exercised, 33,833,337 new shares will be issued and Cimco Marine will receive approximately SEK 50.8 million before issue costs.
2019-09-30
Cimco Marine AB (publ.) appoints Jerry Ojala as COO
Cimco Marine AB’s (publ) has appointed Jerry Ojala as COO from 1st October 2019. His main task will be looking after supply chain and production and quality assurance for the OXE Diesel range at Cimco Marine AB (Publ).
2019-09-24
Cimco Marine AB (publ) enters into letter of intent with African governmental supplier
2019-09-23
Cimco Marine AB (publ) announces outcome of incentive program 2019/2022
Cimco Marine AB (publ) (the “Company”) today announces the outcome of subscription and allotment in the incentive program resolved by the annual general meeting on 14 May 2019. The program involves the issue and transfer of up to 10 million share warrants of series 2019:2 to employees and consultants in the Company. Each share warrant entitles to subscription of one new share in the Company at a subscription price of 4 SEK during the period 1–31 December 2022.
2019-09-19
Cimco Marine AB (publ) receives first tranche of MEUR 4 from the European Investment Bank
Cimco Marine AB (publ) (the “Company”) today announces that the Company has received Tranche A, in the amount of MEUR 4, under the MEUR 14 credit facility agreement entered into with the European Investment Bank (“EIB”) on 5 July 2019.
2019-09-13
OXE 300 world premiere at Genoa Boat Show
Cimco Marine AB (publ.) has developed the next generation diesel-powered outboard - OXE 300. It is the world’s most powerful diesel outboard and the most fuel-efficient outboard in its power range – consuming some 40% less fuel than a modern gasoline outboard. Its unique, game-changing, patented design is capable of delivering 680 Nm of torque (the highest in any 300 hp outboard), available already at 1750 rpm – Perfect for commercial maritime operations where strength, power, low fuel consumption and long range are key. The OXE 300 will be displayed and ready for tests on the water at Genoa Boat Show 20th to 24th of September in collaboration with Rama Marine. Orders for the OXE 300 can be placed starting 20th of September via the OXE distributor network. Production will commence in May 2020.
2019-08-30
Cimco Marine AB (publ) issues warrants to the European Investment Bank
The board of directors of Cimco Marine AB (publ) (the “Company”) has resolved, as authorized by the extraordinary general meeting on 30 July 2019, on a directed issue of in total 13,365,367 warrants to the European Investment Bank (“EIB”). EIB has subscribed for all issued warrants.
2019-07-30
Report from the extraordinary general meeting in Cimco Marine AB (publ)
At the extraordinary general meeting in Cimco Marine AB (publ) (the “Company”) held on 30 July 2019, the following was resolved.
2019-07-25
Cimco Marine AB obtains the bondholders’ approval for a waiver in respect of certain terms for its up to MSEK 200 bonds
2019-07-12
Cimco Marine AB (publ) publishes convening notice for extraordinary general meeting and proposes issue authorisation for the board
The board of directors of Cimco Marine AB (publ), reg. no 556889-7226 (the “Company”) publishes convening notice for extraordinary general meeting to be held on Tuesday 30 July 2019, at 2 pm, at Best Western Plus Hus 57, Östergatan 57 in Ängelholm. The board proposes that the general meeting resolves on authorisation for the board of directors to resolve on directed issues of new warrants to the European Investment Bank (the “EIB”).
2019-07-09
Cimco Marine AB (publ.) enters into distribution agreement for the OXE Diesel with Rama Motori S.p.A., Italy
Cimco Marine AB, the manufacturer behind the OXE Diesel, has entered into a distributor agreement with Rama Motori S.p.A., Italy. With extensive service network and reputation for after sales support as an established John Deere distributor, Rama Motori is a great addition to our global network of distributors. With this agreement, Cimco opens up and extends the availability of the OXE Diesel in the Mediterranean.
2019-07-06
Cimco Marine AB (publ.) appoints Paul Frick as new CFO
Cimco Marine AB’s (publ) has appointed Paul Frick as new CFO from 8th September 2019. He succeeds Myron Mahendra, who is currently the CEO of Cimco Marine AB (Publ).
2019-07-05
Cimco Marine AB (publ) initiates written procedure to obtain the bondholders’ approval for a waiver in respect of certain terms in its up to MSEK 200 bonds
2019-07-05
Cimco Marine AB (publ) enters into MEUR 14 credit facility agreement with the European Investment Bank
· The European Investment Bank (the “EIB”) makes available a credit facility of up to EUR 14 million to Cimco Marine AB (publ) (“Cimco”) for further development of low-emission, fuel-efficient diesel outboard engine to replace highly polluting petrol engines · Project supported under European Fund for Strategic Investments, part of the Juncker Plan
2019-07-04
Cimco Marine AB (publ.) appoints of Per Wigren as CTO
Per Wigren has been appointed CTO for Cimco Marine AB's (publ).
2019-06-25
Cimco Marine AB (publ.) announces the appoint of Ralf Losch as Sales Director
Ralf Losch has been appointed Sales Director for Cimco Marine AB's (publ).
2019-06-20
Next generation prototypes of OXE Diesel 300
Cimco Marine AB (publ.) are developing the new generation Diesel powered outboard, with six cylinders, twin turbo, 3-liter, diesel engine from BMW as a basis. Internally the project is known as the BISON project. The next generation prototypes are currently being built and are scheduled to hit the water in early July. Start of production is scheduled for spring 2020.
2019-06-19
Change of Certified Adviser for Cimco Marine AB (publ.)
2019-06-17
Cimco Marine AB (publ) appoints Myron Mahendra as new CEO
Cimco Marine AB’s (publ.) Board of Directors has appointed Myron Mahendra as new CEO from 1st July 2019. He succeeds Andreas Blomdahl who will continue his role as Board member of Cimco and additionally to act as a Senior Advisor and Brand Ambassador for the company with a specific focus to develop sales and markets.
2019-06-04
The OXE Diesel, have received Type Approval from China Classification Society (CCS)
Cimco Marine AB (publ) are able to announce that OXE Diesel engines have received type approval from the China Classification Society Rules: Chapter 3, Part One, Construction and Classification of Yachts 2012. Chapter 4, Construction and Classification of Coastal Boats 2005 and Chapter 5 Construction of Inland Waters Boats 2006.
2019-05-14
Report from annual general meeting in Cimco Marine AB (publ) on 14 May 2019
2019-05-07
Last day of trading in paid subscription units (Sw. BTU)
Last day of trading in (BTU) in Cimco Marine AB (publ) ("Cimco Marine" or the “Company") will be Thursday May 9, 2019 and stop day will be Monday May 13, 2019.
2019-05-06
Cimco Marine AB (publ) launches a tropical compliant 200hp OXE Diesel
Cimco Marine AB (publ) will commence production and delivery of the tropical compliant 200hp OXE Diesel outboard engine this week. During the last six months, the company has worked hard to finalise this model which incorporates significant upgrades and improvements.
2019-04-12
Cimco Marine AB (publ) publishes convening notice for annual general meeting and proposes issue authorisation for the board
The board of directors of Cimco Marine AB (publ), reg. no 556889-7226 (the “Company”) publishes convening notice for annual general meeting to be held on Tuesday 14 May 2019, at 2 pm, at Best Western Plus Hus 57, Östergatan 57 in Ängelholm. The board proposes, among other things, that the general meeting authorises the board issue new shares, warrants and/or convertibles.
2019-04-09
Cimco Marine AB (publ) publishes final outcome of the rights issue
The final outcome of Cimco Marine AB’s (publ) (”Cimco Marine” or the “Company”) rights issue of units of totally approx. SEK 154 million, for which the subscription period ended on 3 April 2019, shows that 21,535,380 units, corresponding to approx. 62.6 % of the rights issue, were subscribed for with preferential rights (incl. subscription undertakings). Additionally, 1,462,018 units, corresponding to approx. 4.2 % of the rights issue, were subscribed for without preferential rights. 10,835,939 units, corresponding to approx. 31.5 % of the rights issue, were subscribed by guarantors. Through the rights issue, Cimco Marine raises approx. SEK 101.5 million before deduction of issue related costs.
2019-04-04
Cimco Marine publish preliminary results from the rights issue
The preliminary outcome of Cimco Marine AB’s (publ) (”Cimco Marine” or the “Company”) rights issue of units of approximately SEK 154 million, for which the subscription period ended on 3 April 2019, shows that 21 535 380 units, corresponding to approx. 62,6 % of the rights issue, were subscribed for with preferential rights (incl. subscription undertakings). Additionally, 1 462 018 units, corresponding to approx. 4,2 % of the rights issue were subscribed for without preferential rights. Including guarantee commitments, Cimco Marine raises approx. SEK 101,5 million before deduction of issue related costs.

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