On Tuesday, June 2, JonDeTech's CEO Per Lindeberg will present the company at Redeye Growth Day at 12:10 CET. The presentation will have a strong focus on the collaboration with OFILM and the recently announced development project on measuring body temperature with a mobile phone.
This is the second project that JonDeTech and Chinese OFILM are working on together, and the development agreement concerns a module to enable measurement of body temperature using the mobile phone. The module is based on JonDeTech's calibrated sensor element that allows the measurement of skin temperature with the required accuracy. In the first stage, the module will be offered as a mobile accessory, and in the long term, the ambition is that it can be implemented directly into the mobile phone. The development work keeps a high pace, driven by the great interest that exists from the market players in the wake of the ongoing corona pandemic.
JonDeTech has worked intensely on implementing its Go-To-Market strategy, focusing on a handful of global suppliers to the high-volume consumer electronics market. An essential aspect of gaining access to and forming strategic alliances with these companies is local representation. Asia Perspective is an independent consultancy company with Swedish origin bridging the business world of Northern Europe and Asia with offices located throughout China and Southeast Asia. The main office, located in Shanghai, will act as JonDeTech's representative office.
OG Innovation AB, org.no. 559006-7483, and Mikael Lindeberg, who together own approximately 35 percent of the capital and votes in JonDeTech Sensors AB, proposes that two new members, Katarina Bonde and Dave Wu, be elected to the board to be voted at the upcoming AGM. The Annual General Meeting will be held on May 26, 2020, where Katarina Bonde will also be proposed as the new Chairman of the Board.
As previously announced, JonDeTech Sensors AB (publ) and the Chinese tech-fund Jiuyou Fund signed a term sheet regarding a directed issue of SEK 40 million with a subscription period up until April 30, 2020. Jiuyou Fund confirms now the investment through binding agreement, under which a subscription of 2,932,552 shares will be made when the agreement is fulfilled. The investment corresponds to a price of SEK 13,64 per share and a dilution of approximately 13.65 percent.
The collaboration concerns OFILM's product within biometric access control, where JonDeTech's sensor element will be implemented to save battery life through presence detection. The product is already sold on the Chinese market by OFILM itself, and in 2019 the company sold approximately 15 million units.
As communicated in a regulatory press release earlier today, JonDeTech Sensors AB (publ) has entered into a term sheet agreement with Jiuyou Fund, a major Chinese investment fund, aiming at an investment of SEK 40 million between now and the end of April.