Change in Tecnotree Corporation’s holding of treasury shares
Tecnotree Corporation Stock Exchange Release 8 November 2023 at 18:00 EET
The Board of Directors of Tecnotree Plc has on 26 October 2023 decided on a directed share issue for the purpose of reward payment of the annual short-term incentive scheme 2022.
In the share issue, a total of 2,877,232 Tecnotree shares have on 8 November 2023 been issued and conveyed without consideration to the key persons participating in the plans.
The decision on the directed share issue is based on the authorization granted to the Board of Directors by the Annual General Meeting of Shareholders held on 15 May 2019.
In addition, Tecnotree has today conveyed 767 615 treasury shares to the members of the Tecnotree's Board of Directors as a part of the Board members' annual remuneration in accordance with the decision of the Annual General Meeting on 19 April 2023. The amount of shares is based on the yearly remuneration decided by the Annual General Meeting and the average share price between 30 October and 3 November 2023.
Further information
Indiresh Vivekananda. CFO. tel. +971 56 410 8357
Tecnotree is a 5G-ready digital Business Support System (BSS) player, with AI/ML capabilities and multi-cloud extensibility. Tecnotree is as No.1 on the TM Forum Open API Conformance table with 59 Open APIs, and this is a result of our pursuit towards delivering excellence and consistently providing differentiated experiences and services to the CSPs and DSPs. Our agile and open-source Digital BSS Stack comprises the full range (order-to-cash) of business processes and subscription management for telecom and other digital services industries creating opportunities beyond connectivity. Tecnotree also provides Fintech and B2B2X multi-experience digital marketplace to its subscriber base through the Tecnotree Moments platform to empower digitally connected communities across gaming, health, education, OTT, and other vertical ecosystems. Tecnotree is listed on Helsinki Nasdaq (TEM1V).
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