TECNOTREE RESOLVED ON DIRECTED SHARE ISSUE
Tecnomen Lifetree Corporation STOCK EXCHANGE RELEASE
30 October 2009, at 1.00 pm
TECNOTREE RESOLVED ON DIRECTED SHARE ISSUE
The Board of Director of Tecnotree has on 28 October 2009 resolved on a directed
share issue against payment based on the authorisation given by the Annual
General Meeting on 12 March, 2008. In this share issue 677,241 new company
shares have been offered for subscription. The shares issue relates to the
acquisition executed between the company and Lifetree Convergence Ltd (currently
Tecnotree Convergence Ltd.) in spring 2009. New shares have been offered for
subscription, with deviation from shareholders' pre-emptive rights, to nine
employee shareholders of Tecnotree Convergence Ltd and APC Securities (India)
Private Limited. The subscription price for each new share is EUR 0.86. The
subscription price is paid with property given as contribution in kind which is
174,333 shares of Tecnotree Convergence Ltd. All shares offered for subscription
have now been subscribed for and the contribution in kind has been submitted.
The final settlement of the transaction is expected to take place within one
week.
The share capital of Tecnotree will not change as a consequence to the share
issue, but the number of shares will increase by 677,241 shares. Accordingly,
the total number of shares will amount to 73,630,977. The new shares are
intended to be listed on the main list of NASDAQ OMX Helsinki Ltd and the trade
of the new shares is estimated to begin in November 2009.
TECNOMEN LIFETREE CORPORATION
FURTHER INFORMATION
Tuomas Wegelius, CFO, phone +358 (0)400 433 228
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main Media
www.tecnotree.com
About Tecnotree
Tecnotree, (Tecnomen Lifetree) founded in 1978, is one of the leading suppliers
of Business and Operations Support Systems (BSS/OSS) and Value Added Services
(VAS) for telecom operators worldwide. Tecnotree markets and sells its products
and services through its own organisation, as well as through global and local
partners, and has supplied its products to more than 120 customers around the
world. Headquartered in Espoo, Finland, Tecnotree has over 800 employees working
in 20 locations worldwide. The company is listed on the main list of NASDAQ OMX
Helsinki Ltd with the trading code TEM1V. For more information on Tecnotree
visit www.tecnotree.com