Inside information: Amendment to Tecnotree’s dividend proposal and proposal on reverse share split
Tecnotree Corporation Inside Information 22 March 2024 at 17:00 EET
Tecnotree Corporation’s (“Tecnotree”) Board of Directors has decided to amend its dividend proposal included in the financial report release published on 22 February 2024 for the Annual General Meeting to be held on 15 April 2024.
According to the previous dividend proposal, the Board of Directors proposes to the Annual General Meeting that no dividend will be paid for the financial year 2023. According to the new proposal, the Board of Directors proposes to the Annual General Meeting that the Board of Directors is authorized to decide, in its discretion, on the distribution of an aggregate maximum of EUR 350,000 as dividends from the financial year 2023.
The aforesaid dividend proposal is conditional on the Annual General Meeting deciding that the Company carries out a reverse share split to the effect that each twenty (20) current shares of the Company are merged into one (1) share as proposed by the Board of Directors. Should the Annual General Meeting decide on the reverse share split pursuant to the aforesaid proposal, the maximum amount of dividends that can be distributed on the basis of the aforesaid dividend authorization is EUR 0.01 per share (post 20:1 reverse share split).
Notice to the Annual General Meeting shall be published later today.
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).
For more information, please visit www.tecnotree.com or social media channels – LinkedIn I Facebook I Twitter