ESPOO, Finland–(BUSINESS WIRE)– Padma Ravichander, de CEO van Tecnotree Corporation (“Tecnotree”) is vandaag een overeenkomst aangegaan, waarbij Fitzroy Investments Limited (“Fitzroy”) 15 miljoen aandelen van Tecnotree aan Padma Ravichander zal verkopen voor een aankoop prijs gelijk aan het 10-daags voortschrijdend gemiddelde van de Tecnotree-aandelenprijs op de NASDAQ Helsinki Stock Exchange. De verkoop van deze aandelen zal in meerdere tranches plaatsvinden en zal in september 2022 worden afgerond. De partijen zijn overeengekomen en zijn verplicht om de nodige marktkennisgevingen te doen naarmate de tranches werkelijkheid worden.

“Tecnotree was de best presterende investering in onze portefeuille. Het is onze bedoeling om de grootste aandeelhouder van Tecnotree te blijven en een langetermijninvesteringsrelatie in Tecnotree te behouden. We zijn echter een strategische kans tegengekomen om 15 miljoen aandelen te verkopen aan mevrouw Ravichander, een van de belangrijkste drijfveren achter het recente succes van Tecnotree. Met deze transactie wil Fitzroy blijk geven van zijn dankbaarheid en toewijding aan de voortdurende waardevolle samenwerking met Padma”, aldus Neil Macleod, de directeur van Fitzroy Investments Limited en de voorzitter van de raad van bestuur van Tecnotree.

The CEO of Tecnotree Corporation, Padma Ravichander, acquires 15 million shares from Fitzroy Investments Limited

ESPOO, Finland–(BUSINESS WIRE)– Padma Ravichander, the CEO of Tecnotree Corporation (“Tecnotree”) has today entered an agreement, wherein Fitzroy Investments Limited (“Fitzroy”) will sell 15 million shares of Tecnotree to Padma Ravichander for a purchase price equivalent to the 10-day moving-average of the Tecnotree share price on the NASDAQ Helsinki Stock Exchange. The sale of these shares will be conducted in multiple tranches and will be completed by September 2022. The parties have agreed and are obliged to make the necessary market notifications as the tranches materialize.

“Tecnotree has been the best performing investment in our portfolio. It is our intention to remain Tecnotree’s single largest shareholder and maintain a long-term investment relationship in Tecnotree. However, we have come across a strategic opportunity to sell 15 million shares to Mrs. Ravichander, one of the key drivers behind Tecnotree’s recent success. With this transaction Fitzroy wants to signal its gratitude and commitment to the continued valuable co-operation with Padma,” said Neil Macleod, the Director of Fitzroy Investments Limited and the Chairman of the Board of Tecnotree.

“Tecnotree’s purpose is to bring the Finnish technology competence and state of the art 5G technology solutions across the world. We have a clear growth strategy to create sustainable digital ecosystems with our customers and partners. The transaction with Fitzroy underpins our collective long-term commitment to the execution of our digital strategy,” said Padma Ravichander, the CEO of Tecnotree.

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 with a pre-integrated B2B2X partner ecosystem across gaming, heath, education, OTT and more. Tecnotree products, platforms and partners support emerging ecosystems of over 1 billion subscribers across 70+ countries. Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit www.tecnotree.com.

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Contacts

Padma Ravichander, CEO Tecnotree OYJ

Email: marketing@tecnotree.com