The Board of Directors in LED iBond International A/S (“LED iBond” or the “Company”) has today resolved to increase the share capital of LED iBond with up to a nominal amount of 11,612,404.50 DKK corresponding to 232,248,090 new shares (the “New Shares”) each with a nominal value of 0.05 DKK. The share capital increase is carried out as a rights issue with preferential rights (the “Subscription Rights”) for existing shareholders (“Rights Issue” or the “Issue”) at a subscription price of 0.06 DKK per New Share (the “Subscription Price”). The Rights Issue is carried out by exercising clause 3.7 and 3.8 of the Articles of Association. In connection with the Rights Issue, the Company has received legally binding written pre-subscription commitments and guarantee undertakings from existing shareholders of DKK 8.5 million, corresponding to approximately 61 percent of the total Rights Issue.

Summary of the Rights Issue:
The Rights Issue is to be carried out on the following main terms:

• The capital increase is carried out as a Rights Issue with pre-emptive rights for existing shareholders exercising authorization in Articles of Association clauses 3.7 and 3.8.
• Existing shareholders will receive six (6) Subscription Rights for every one (1) existing share, which are held on the record date of 1 August 2025. One (1) Subscription Right entitles the holder to subscribe for one (1) New Share in the Company.
• The Rights Issue comprises a maximum of 232,248,090 New Shares.
• The Subscription Price is set at 0.06 DKK per New Share.
• The last day of trading in the LED iBond share, including the right to receive Subscription Rights in the Rights Issue is 30 July 2025.
• The subscription period runs from 4 August 2025 9.00 A.M. CEST to 15 August 2025 5.00 P.M. CEST.
• Upon full subscription of the Rights Issue, LED iBond will be provided with approximately DKK 13.9 million before deduction of transaction-related costs.
• The Company has received legally binding written pre-subscription commitments and guarantee undertakings from existing shareholders of DKK 8.5 million, which is equivalent to 141,666,667 new shares. This corresponds to approximately 61 percent of the total Rights Issue.
• The Company’s share capital prior to the Rights Issue amounts to 1,935,400.75 DKK divided upon 38,708,015 shares with a nominal value of 0.05 DKK per share.

Table of content:

1. Background and use of proceeds
2. Detailed terms and conditions
3. Subscription undertakings
4. Expected timetable
5. Risk factors
6. Legal rights
7. Other information

1. Background and use of proceeds
LED iBond is conducting this Rights Issue to strengthen its financial foundation and execute its 2025–2026 growth strategy. The offering follows a DKK 10 million loan secured in late 2024 from four major shareholders, intended as a bridge to this capital raise. This structure ensures all shareholders have an opportunity to participate on equal terms. The transaction has been foreshadowed in earlier company announcements, including Announcement No. 110 (13 November 2024), which detailed the secured loan facility and its link to an upcoming rights issue, and the subsequent general meeting that authorized the capital increase. Additionally, the Company needs to strengthen the liquidity position as per Announcement No. 123 (4 July 2025.

Proceeds from the Rights Issue will be allocated approximately as follows:

• 40 - 50% – Repayment of shareholder loans used for interim financing.
• 40 - 50% – Sales, marketing, and business development to expand revenue streams in core segments: Parking Facilities, Indoor Farming, and Service Stations.
• 5 - 10% – General working capital and contingency for production outsourcing and operational flexibility.
  

This funding is expected to secure LED iBond’s path to profitability in late 2025 and provide the working capital necessary to realize projected revenues of DKK 13–17 million in FY2025.

Commercial focus and strategic shift towards scalable revenue

As part of its 2025–2026 growth strategy, LED iBond has adopted a strongly sales-driven and topline-focused mindset throughout the organization. This commercial transformation is evident in new methods for pipeline management and conversion practices, which have already resulted in a doubling of the order pipeline from 2023 to 2024. By January 2025, the Company had secured order volumes equivalent to the entirety of fiscal year 2023, underscoring the momentum of its commercial efforts.

The strategic focus has shifted away from reliance on single-product orders toward securing larger-volume agreements with recurring potential. This is aligned with the Company's streamlined product portfolio, now centered on high-margin, high-volume solutions in Parking Facilities, Indoor Farming, and Service Stations. With production fully outsourced in Q1 2025, LED iBond is now positioned to scale operations efficiently while devoting more resources to customer engagement and market penetration.

Proceeds from the rights issue will support this commercial push by funding intensified sales and business development activities, enabling LED iBond to convert its growing pipeline into revenue and move decisively toward profitability by the end of 2025.

1. Detailed terms and conditions
This section will describe the complete terms and conditions of the Rights Issue.

Structure

The share capital increase is carried out as a Rights Issue with pre-emptive rights for the Company’s existing shareholders. The Board of Directors is exercising clauses 3.7 and 3.8 of the Articles of Association.

Minimum offer and proceeds

The Board of Directors has resolved on the share capital increase subject to a minimum of 141,666,667 new shares being subscribed (the “Minimum Offer”), equivalent to a subscription rate of approximately 61 percent. The Minimum Offer has been secured through binding pre-subscription and guarantee undertakings. Upon subscription of the Minimum Offer, LED iBond will be provided with approximately DKK 8.5 million in gross proceeds before deduction of transaction-related costs. The transaction-related costs associated with the Minimum Offer have been estimated at approximately DKK 0.3 million, providing the Company with approximately DKK 8.2 million in net proceeds.

Maximum offer and proceeds

The Rights Issue comprises of a maximum of 232,248,090 New Shares (the “Maximum Offer”).

Upon subscription of the Maximum Offer, LED iBond will be provided with approximately DKK 13.9 million in gross proceeds before deduction of transaction-related costs. The transaction-related costs associated with the Maximum Offer have been estimated at approximately DKK 0.9 million, providing the Company with approximately DKK 13.0 million in net proceeds.

Allocation of Subscription Rights

Existing shareholders are allocated six (6) Subscription Rights for each one (1) share held in the Company that the respective shareholder hold in their account at VP Securities (Euronext Securities Copenhagen) at the record date of 1 August 2025 at 5.00 P.M. CEST. The holders of Subscription Rights can for every one (1) Subscription Right subscribe for one (1) New Share in the Company.

The last day of trading in the Company share, including the right to receive Subscription Rights in the Rights Issue, is 30 July 2025, provided the trade is settled on the customary two-trading-day value date. LED iBond’s management and Board of Directors own, directly and indirectly, the following shareholdings prior to the Rights Issue:

Trading of Subscription Rights

The Subscription Rights will be admitted to trading on Nasdaq First North Growth Market Denmark under the ISIN code DK0064196158. The trading period for Subscription Rights runs from 31 July 2025 9.00 A.M. CEST to 13 August 2025 at 5.00 P.M. CEST.

Upon expiry of the trading period of Subscription Rights, any Subscription Rights not exercised will lapse without value, and the holders of lapsed Subscription Rights will not be entitled to any compensation. Investors who have acquired Subscription Rights will incur a loss equivalent to the purchase price of the Subscription Rights and the transaction costs associated with their acquisition of the Subscription Rights if left unused. Trading of Subscription Rights is conducted at the sole account and risk of the investor.

Subscription Price

The Subscription Price is 0.06 DKK for every one (1) New Share in the Company.

Subscription period

The subscription period for the Rights Issue runs from 4 August 2025 9.00 A.M. CEST to 15 August 2025 5.00 P.M. CEST.

Subscription with the support of Subscription Rights

Holders of Subscription Rights can subscribe for New Shares and must do so through their custodian institution or financial intermediary, in accordance with the rules of the respective institution. The deadline for notification of exercise depends on the holder’s agreement with, and the rules and procedures of, the relevant custodian institution or other financial intermediary and may be earlier than the end of the subscription period. Once a holder has exercised its Subscription Rights, the exercise may not be revoked or modified. During the trading period of Subscription Rights, holders of Subscription Rights who do not wish to exercise their Subscription Rights to subscribe for New Shares may sell their Subscription Rights on Nasdaq First North Growth Market Denmark, and a purchaser may use the acquired rights to subscribe for New Shares. Holders wishing to sell their Subscription Rights should instruct their custodian institution or other financial intermediary accordingly.

Subscription of remaining shares

Remaining shares may, without compensation to the holders of unused Subscription Rights, be subscribed for by existing shareholders and new investors who submit a subscription form for subscription of remaining shares without support of Subscription Rights before the end of the subscription period, and existing shareholders and investors who have entered guarantee undertakings.

The subscription form shall be filled out and submitted to the account holders’ own bank according to their respective instructions and deadlines.

Subscription of remaining shares via subscription form

The subscription form is to be submitted to the investor’s own custodian bank within the subscription period. For a subscription to be binding, the subscription form must be submitted to the investor’s own custodian bank in due time for the custodian bank to process and deliver the order, so that the subscription has been received by Danske Bank A/S no later than 15 August 2025 at 5.00 P.M. (CEST). It is solely the investor’s responsibility that their subscription is received in due course by Danske Bank A/S.

Temporary shares and payment and settlement of New Shares

Upon exercise of Subscription Rights and payment of the Subscription Price, temporary shares will be issued and allocated on subscribers’ account with VP Securities A/S (Euronext Securities Copenhagen). The temporary shares will be issued with the ISIN code DK0064196075. The temporary shares will not be admitted to trading on Nasdaq First North Growth Market Denmark under the temporary ISIN code. The temporary share is registered in VP Securities A/S (Euronext Securities Copenhagen) solely for the subscription of New Shares and will be held in VP Securities A/S (Euronext Securities Copenhagen) expected until 28 August 2025, where the temporary share will be merged with the permanent share. The temporary shares will automatically be exchanged for ordinary shares. Registration of the New Shares with the Danish Business Authority is expected to take place on 22 August 2025.

Plan of distribution and allotment

Allocation of subscribed shares in the Rights Issue will be decided by the Company’s Board of Directors, with the following guiding principles:

1. Subscription with support of Subscription Rights
2. Subscription for remaining shares without support of Subscription Rights
3. Guarantee undertakings

In the event of an oversubscription and the need for a reduction in allocations, the Board of Directors shall determine the method of allocation at its discretion for subscription for remaining shares without support of Subscription Rights. Individual investors will be informed of their respective allocations through their respective banks.

Withdrawal of applications of subscription

Instructions to exercise Subscription Rights related to the Rights Issue are irrevocable, except in the event of any material changes in connection with the information in the Company announcement announcing the Rights Issue which may affect the evaluation of the Subscription Rights, the New Shares or the existing shares, which occurs or is ascertained between the time of publication of said Company announcement and the completion of the Rights Issue or the delivery of the New Shares. In the event that a supplement to this announcement is published by the Company during the time for trading in Subscription Rights and/or the subscription period, investors will have the right to withdraw subscriptions made for New Shares within three (3) business days from publishing such information.

Withdrawal of the Rights Issue

The Rights Issue is subject to no events occurring prior to the registration of the share capital increase with the Danish Business Authority which, in the evaluation of the Board of Directors of the Company, would result in the completion of the Rights Issue being inadvisable. The Rights Issue may be withdrawn at any time prior to the registration of the capital increase related to the New Shares with the Danish Business Authority. In the event of withdrawal, none of the submitted subscriptions, with and without the support of Subscription Rights, for New Shares will be accepted and no New Shares will be issued. Trading with New Shares made prior to the withdrawal will not be affected.

If the Rights Issue is withdrawn, any exercise of Subscription Rights that has already taken place will be cancelled automatically. The subscription amount for New Shares will be refunded (less any transaction costs) to the last registered holder of the New Shares at the time of withdrawal. All Subscription Rights will be cancelled, and none of the New Shares will be issued.

Trades involving Subscription Rights, executed during the trading period of Subscription Rights and completed will not be affected. Consequently, investors who have acquired Subscription Rights will incur a loss equivalent to the purchase price of the Subscription Rights and the transaction costs associated with their acquisition of the Subscription Rights if the Rights Issue is withdrawn.

Investors who have acquired New Shares will receive a refund of the subscription amount for New Shares (less any transaction costs). Consequently, investors who have acquired New Shares may incur a loss corresponding to the difference between the purchase price and the Subscription Price of the New Shares and any related transaction costs.

The Company is not liable for any losses that investors may suffer as a result of withdrawal including but not limited to, any transaction costs or lost interest.

Trading in Subscription Rights and/or New Shares prior to the completion of the Rights Issue is made at the holder’s own account and risk.

Any withdrawal of the Rights Issue will be announced immediately through Nasdaq First North Growth Market Denmark.

Announcement of the result of the Rights Issue

The result of the Rights Issue will be communicated in a company announcement expected to be published 20 August 2025.

Change of share capital and dilution

At the assumption of a fully subscribed Rights Issue, the number of shares in the Company will increase by a maximum of 232,248,090 New Shares, from 38,708,015 shares to 270,956,105 shares, and the share capital will increase by a maximum of 11,612,404.50 DKK, from 1,935,400.75 DKK to 13,547,805.25 DKK. This means that existing shareholders who choose not to participate in the Rights Issue will, if fully subscribed, experience a dilution corresponding to approximately 85.7 percent. At the assumption of the minimum subscription, the number of shares in the Company will increase by 141,666,667 new shares, from 38,708,015 shares to 180,374,682 shares, corresponding to a dilution of approximately 78.5 percent, and the share capital will increase by 7,083,333.35 DKK, from 1,935,400.75 DKK to 9,018,734.10 DKK.

2. Subscription undertakings
LED iBond has received legally binding written pre-subscription commitments and guarantee undertakings from larger existing shareholders. The commitments amount to DKK 8.5 million in total in cash, which is equivalent to 141,666,667 shares (which corresponds to approximately 61 percent of the total Rights Issue). All commitments, including pre-subscriptions and guarantee undertakings, shall be subject to a lock-up period of twelve (12) months. This lock-up period shall commence on the first day the New Shares begin trading. During this period, the relevant parties shall not sell, transfer, or otherwise dispose of any of the shares acquired pursuant to these commitments, except as may be permitted by the Board of Directors or required by applicable law. The full list of pre-subscribers and their subscription amounts are set out in the table below:

All participants who have entered into pre-subscription commitments in the Rights Issue are guaranteed a full allotment in accordance with their respective commitments.

The guarantee undertakings are so-called top-down guarantees.

In the event of subscription, with and without subscription rights and including pre-subscriptions, up to approximately 77 % of the Issue, the guarantee undertakings will be fully activated. In the event of subscription, with and without subscription rights and including pre-subscriptions, above approximately 77 % of the Issue, the guarantee undertakings will be partially activated to extend to fully subscribe the Issue. For the guarantee undertakings, the underwriting commitments does not create any preferential rights to allotment and/or any guaranteed allotment in the Rights Issue. No compensation shall be applicable in connection with the guarantee undertakings.

The commitments have not been secured through advance transactions, bank guarantees or similar. Subscription in accordance with the commitments are made to the same terms as in the Rights Issue.

The pre-subscriber’s commitments and guarantee undertakings are documented in separate bilateral agreements.

Based on the pre-subscription levels and guarantee undertakings outlined above, and the terms outlined in this Rights Issue, the share capital and ownership structure are as follows, assuming that all are able to subscribe with the full amount:

3. Expected timetable
This section outlines the expected timetable for the Rights Issue and includes important dates. It must be noted that custodian banks and financial institutions might have different deadlines. The Company will publish company announcements in the event of any delay, or other factors that will impact on the timetable:

• 21 July 2025: Announcement of Rights Issue
• 30 July 2025: Last day of trading including the right to receive Subscription Rights
• 31 July 2025: Publication of quarterly report
• 31 July 2025: First day of trading without the right to receive Subscription Rights
• 31 July 2025: First day of trading period of Subscription Rights
• 1 August 2025: Record date
• 4 August 2025: First day of subscription period
• 13 August 2025: Last day of trading period of Subscription Rights
• 15 August 2025: Last day of subscription period
• 20 August 2025: Announcement of result of Rights Issue
• 22 August 2025: Expected registration of the capital increase at Danish Business Authority
• 27 August 2025: First day of trading New Shares

4. Risk factors
As with any investment, there are certain risks associated with LED iBond’s operations and market conditions. Key company-specific risks include:

• Supplier dependency: The Company is dependent on reliable component deliveries for its lighting systems. Disruptions—especially involving niche European suppliers or geopolitical instability—could delay deliveries.
• Competitive pressure: LED iBond operates in segments with intense competition, particularly in industrial and horticultural lighting. Larger players with broader distribution or lower cost bases may impact pricing and margins.
• Project concentration: The Company’s short-term revenue growth is dependent on a limited number of large projects. Delays or cancellations could significantly affect financial results.
• Commercial execution: The Company's transformation strategy involves outsourcing production and rapidly scaling sales. Delays in execution or failure to capture planned efficiencies may hinder profitability.
• Regulatory and funding dependency: Ongoing support from programs like EUDP is important for R&D acceleration. Changes in public funding priorities or regulatory shifts may impact future development timelines.
  

Investors should carefully consider these risks before participating in the rights issue.

5. Legal rights
This section outlines the rights of the New Shares.

The shares transferability

As of the date of this announcement, there are no general restrictions on the transferability of the existing shares registered and neither will it be for New Shares.

General rights attached to the New Shares

The New Shares will have rights identical to the existing shares. These include voting rights, right to receive dividends, the right to participate in the proceeds in case of a dissolution or liquidation of the Company. All shares have equal rights in the event of insolvency, liquidation or winding up. The rights of the shareholders can only be changed in accordance with the procedures specified in the Articles of Association and the Danish Companies Act (no. 1451 of 09/11 2022).

The New Shares expected to be issued in connection with the Rights Issue are ordinary shares and no shares of the Company carry special rights. At general meetings, each share has one vote, and each shareholder can vote for their full number of shares without limitation. The right of a shareholder to attend a general meeting and to vote is determined by the shares held by the shareholder on the record date.

Right to dividend

The New Shares will, when fully paid up and registered with the Danish Business Authority, have the same rights as the existing shares, including with respect to eligibility for any dividends paid to holders of shares. LED iBond is a growth company and has not since its formation paid dividends to the shareholders.

In the event of a dividend, all shares in the Company carry equal right to dividends. Consequently, the New Shares from the Rights Issue is eligible for dividends as of the date of registration with the Danish Business Authority. The registration is expected to take place on 22 August 2025. Further, the right to dividends applies to investors who are registered as shareholders in LED iBond on the record day applicable for the distribution of dividends. Any dividends will be paid in DKK to the shareholder's account with VP Securities. No restrictions on dividends or special procedures apply to holders of shares who are not residing in Denmark. Dividend withholding tax may be withheld by the Company in accordance with applicable Danish law.

6. Other information
Compliance

Any holders of Subscription Rights that exercise any of their Subscription Rights shall be deemed to have represented that they have complied with all applicable laws. Custodian banks exercising Subscription Rights on behalf of beneficial holders shall be deemed to have represented that they have complied with the Rights Issue procedures set forth in this announcement. Upon expiry of the trading period of Subscription Rights, any Subscription Rights not exercised will lapse without value, and the holders of lapsed Subscription Rights will not be entitled to any compensation.

Legal regulations

The New Shares are issued according to the Danish Companies Act (no. 1451 of 09/11 2022) and the Company’s Articles of Association as at the date of this announcement. LED iBond is, moreover, subject to general Danish legislation, including Regulation (EU) 2017/1129 and the Danish Act on Capital Markets (no. 41 of 13/01/2023). Due to its listing on Nasdaq First North Growth Market Denmark, a multilateral trading facility platform, LED iBond is bound to the obligations set out in the applicable Nasdaq First North Growth Market regulations. Companies admitted to trade on Nasdaq First North Growth Market are subject to the European parliament and the Council Regulation (EU) No 596/2014 on Market Abuse Regulation (MAR) which contains regulation on information obligations and a prohibition on market abuse. Such obligations include, but are not limited to, complying with disclosure and information requirements in the Danish Securities market.

Tax considerations

An investment in the Rights Issue may result in tax consequences for the investor. LED iBond is a Danish registered company that has unlimited tax liability in Denmark. The Company’s New Shares will be traded on Nasdaq First North Growth Market Denmark, a multilateral trading facility (MTF), and the shares in LED iBond are therefore covered by the Danish tax rules for listed shares. The tax legislation in the investor’s jurisdiction may influence any income received from the Issue described in this announcement. Taxation of any dividend, as well as capital gains tax and rules regarding capital losses on sale of securities depends on the individual investors’ specific situation. Shareholders may need to consult their own accountant or tax adviser for a closer assessment of tax consequences, including applicability and effect of foreign tax rules and tax treaties when a shareholder being in LED.

Conflict of interest

HC Andersen Capital (“HC”) is the Certified Adviser and legal advisor, Gemstone Capital ApS ("Gemstone") is the financial adviser, Danske Bank A/S (“Danske Bank”) is the issuing agent as well as the settlement agent to LED iBond in connection with the Rights Issue. These parties receive a pre-agreed remuneration for services in connection with the Rights Issue.

Apart from the shareholdings mentioned, there are to the Company’s best knowledge, no member of the Board of Directors or executive management who has any other private interests which might conflict with the Company’s interests.

Miscellaneous

LED iBond has not been a party to any legal, arbitration or governmental proceedings (including pending cases or such that the Company is aware may arise), during a period covering at least the previous 12 months, that have had or could have significant effects on the Company's financial position or profitability. Nor has the Company been informed of claims that could lead to LED iBond becoming a party to such a process or arbitration. There are no arrangements, known to LED iBond, which may at a subsequent date result in or prevent a change in control of the Issuer. No provisions in LED iBond’s Articles of Association, statutes, charter, or bylaws have an effect of delaying, deferring, or preventing a change in control of LED.

Additional information

LED iBond International A/S (CVR no. 36041609, LEI no. 894500LEGWUYMH704Y23) is headquartered in the Municipality of Furesø and the Company’s headquarters are located on the address, Ryttermarken 10 1, 3520 Farum, Denmark., www.ledibond.com

Corporate matters

The Company’s share capital is fully paid up. The Company is registered with the Danish Business Authority with CVR no. 36041609 and governed by Danish laws.

Key people and advisers

The Board of Directors

Michael Brag, Chairman of the Board

Christel Kniep, Board Member

Henrik Mørch, Board Member

Management

Flemming Thomsen, CEO (interim)

Peter Jensen, CFO

Certified Advisor

HC Andersen Capital 2 ApS
Bredgade 23B, 2.
1260 København K,
Denmark

Important notice

This announcement is for the information of the Company's shareholders and does not constitute an offer or invitation to subscribe for or purchase subscription rights or shares in the Company. There is no public offer of shares outside Denmark. Persons outside Denmark who come into possession of information about the Rights Issue are advised by the Company to observe any restrictions and should inform themselves about the legislation, including tax consequences, that may be relevant to them prior to investing in shares issued by LED IBOND International A/S.

This announcement contains certain forward-looking statements, including statements about the Company's operations. Such forward-looking statements are based on information, assumptions and estimates that the Company believes are reasonable. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements or industry performance to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. If one or more of these risks or uncertainties materialize, or if an underlying assumption proves incorrect, the Company's actual financial position or results of operations could differ materially from those described as assumed, evaluated, estimated or expected.

# # #

Further Information

Flemming Thomsen, CEO (Interim)
Mobile: +45 2274 7228
Email: fth@ledibond.com

Company contact
LED iBond International A/S
Ryttermarken 10, 1.
3520 Farum
Denmark

CVR 36041609

+45 7070 7855
info@ledibond.com
www.ledibond.com

Certified adviser

HC Andersen Capital
Bredgade 23B, 2.
1260 København K

Telephone: +45 30 93 18 87Email: ca@hcandersencapital.dk

About LED iBond International A/S
Founded in 2014, LED iBond offers sustainable, innovative lighting solutions, based on years of development and deep knowledge of modern LED technology combined with advanced packaging and simple assembly technology. 

LED iBond is focusing on three key business lines: Parking Facilities (Parking Houses & Solar Carports), Indoor Farming (Greenhouses & Vertical farms) and Service Stations (Canopies & Car Wash). 

Our technology platforms TRACY®, GRACY™ and HORTISABER™ offer unique value propositions. 

TRACY® and GRACY™ are developed to meet demands for high design flexibility, robustness, easy integration into building construction, less cables and low total costs of ownership due to market leading energy efficiency. 

HORTISABER™ is a new generation of LED grow lights for indoor farming. It’s developed to meet the demands from modern greenhouse productions with outstanding energy efficiency, light uniformity, superior passive cooling design that enhances the lifespan significantly and the unique linear slim-line design ensures minimal daylight shadow.     

LED iBond’s lighting solutions have been installed in many large-scale projects ranging from Parking Houses, Charging Hubs, Solar Carports and Greenhouses to customized illumination projects such as shopping centres, intelligent shelf lighting and elevator ceilings.  

LED iBond is a Danish design and manufacturing company.