Restructuring program of Tecnotree Corporation has ended
Tecnotree Corporation Stock Exchange Release 30 September 2021 at 13:40 EET
The restructuring program of Tecnotree Corporation (“Tecnotree”) has ended with the supervisor providing his final account of the restructuring program to the creditors today 30 September 2021.
In its stock exchange release on 14 September 2021, Tecnotree announced that Tecnotree group had fully purchased the outstanding debt held by Viking Acquisitions Corp. under the debt restructuring program at par. After the transaction, a Tecnotree subsidiary was the only remaining creditor under the restructuring program. Tecnotree has on 28 September 2021 prematurely repaid this only remaining debt under the restructuring program to its subsidiary.
The restructuring program is considered to end when the company has fully completed the restructuring program in accordance with its terms and the supervisor has given the final account regarding the restructuring program to the creditors. The supervisor has confirmed that the prerequisites for ending the restructuring program have been fulfilled. The supervisor has today 30 September 2021 given his final account to the creditors, following which the restructuring program of the company has ended.
Padma Ravichander, CEO at Tecnotree, says “This is a watershed moment. It will reinforce our financial stability, instil more confidence in the company and help us engage with potential customers better”.
Tecnotree Corporation
LISÄTIETOJA
Priyesh Ranjan, talousjohtaja, puh. +971 50 955 1188
About Tecnotree
Tecnotree is the only full stack digital business management solution provider for digital service providers, with over 40 years of deep domain knowledge, proven delivery and transformation capability across the globe. Our open source technology based agile products and solutions comprise the full range (order-to-cash) of business process and subscription management for telecom and other digital service providers. Tecnotree products and platforms service over 800 million subscribers worldwide. Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit www.tecnotree.com.