Atul Chopra has withdrawn a legal action against Tecnotree in Court of Arbitration in Singapore

Tecnotree Corporation
Stock Exchange Release
30 May, 2014 at 1.00 pm EEST

Atul Chopra has withdrawn and waived a legal action taken against Tecnotree in the court of arbitration in Singapore on 12 March 2013. In the claim Atul Chopra and Aparna, a company close to him, requested indemnity of about EUR 1.1 million.

In relation to the matter Tecnotree, Atul Chopra and Aparna have agreed to settle the matter and withdrawn all legal actions and other claims against each other. Today, the Singapore International Arbitration Centre has confirmed the settlement between the parties. As part of the settlement Tecnotree agrees to pay a lump sum of EUR 0.1 million to Atul Chopra. 

TECNOTREE CORPORATION

More information
Mr Ilkka Raiskinen, CEO, tel. +358 45 3113113

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NASDAQ OMX Helsinki Ltd
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www.tecnotree.com

About Tecnotree
Tecnotree is a global provider of telecom IT solutions for the management of products, customers and revenue. Tecnotree helps communications service providers to transform their business towards a marketplace of digital services. Tecnotree empowers service providers to monetise service bundles, provide personalised user experiences and augment value throughout the customer lifecycle. With over 1100 telecom experts, Tecnotree serves more than 100 service providers in over 70 countries. Tecnotree is listed on the main list of NASDAQ OMX Helsinki with the trading code TEM1V. For more information on Tecnotree, please visit www.tecnotree.com.