Tecnomen corporation interim report 1 january - 31 august 2000

TECNOMEN CORPORATION INTERIM REPORT 1 January - 31 August 2000 Net sales grew 52 % to EUR 38.3 (25.3) million Operating result was EUR 2.7 (-3.9) million Institutional investor share issue was oversubscribed more than tenfold; the retail and employee issues were also oversubscribed Result before taxes and minority interest was EUR 2.8 (-4.5) million The company's financial standing improved significantly, and the equity ratio was 86 % (26) TECNOMEN'S BUSINESS AREA Tecnomen develops and delivers value-added telecommunications service systems for telecom operators and service providers. Tecnomen's product areas consist of Messaging Systems and closely related Wireless Internet Solutions as well as Prepaid and Paging Systems. During the period under review, Messaging Systems and Wireless Internet Solutions accounted for 70 % of net sales, Prepaid Systems for 19 %, Paging Systems 9 % and other products 2 %. COMBINED SHARE ISSUE AND SALE OF TECNOMEN SHARES The Boards of Directors of Kyro and Tecnomen decided at their meetings on 9 June 2000 to initiate a combined share issue and sale of Tecnomen shares and to apply for listing on the Main List of the Helsinki Exchanges. The share issue and sale is used to expand Tecnomen's owner base, to strengthen the corporation's financing structure, to finance Tecnomen's growth and to create additional possibilities for developing personnel incentive and commitment programmes. Trading of Tecnomen shares started on the Pre-List of the Helsinki Exchanges on 30 June 2000 and on the Main List on 4 July 2000. A total of 12,969,200 shares were subscribed and sold in the combined share issue and sale. Tecnomen issued 7,969,200 new shares. The subscription price in the institutional and retail issues was EUR 8.50, which was also the maximum price in the offering. The price was EUR 7.65 in the employee issue. The company's share capital was raised by EUR 318,768. The Kyro Group sold a total of 5,000,000 shares. The parent company Kyro owns 73.7% of Tecnomen's shares after the share issue and sale. Tecnomen's institutional issue was oversubscribed more than tenfold. The employee and retail issues were also oversubscribed. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/06/20001006BIT00070/bit0001.doc The full report http://www.bit.se/bitonline/2000/10/06/20001006BIT00070/bit0002.pdf The full report