2023-12-08 13:31:00 CET

2023-12-08 13:30:59 CET


Tecnotree Oyj - Inside information

Inside Information: Update on Stock Exchange Release dated 27 October 2023 regarding the obligations originally held by Markku Wilenius

Tecnotree Corporation Inside Information 8 December 2023 at 14:31 EET

Further to the Stock Exchange Release dated 27 October 2023 regarding the unpaid
payment obligations held by Markku Wilenius in relation to the compulsorily
convertible debentures published on 22 June 2023 (the “CCD"), Fitzroy
Investments Limited (“Fitzroy”) has concluded the definitive agreement with
Markku Wilenius to acquire the unpaid 200 CCD notes (the “Notes”) from Markku
Wilenius and take over Markku Wilenius' unpaid payment obligations under the
Notes towards the company.

Tecnotree and Fitzroy have further agreed with respect to the Notes that Fitzroy
will pay the unpaid subscription price of the Notes in the total amount of EUR
20,000,000 to the company by Q4-2025.

Should Fitzroy default with its above payment obligation, Fitzroy will be
obligated to pay to Tecnotree as a contractual penalty 18% of any remaining
unpaid subscription price of the Notes after which the unpaid Notes will return
back to Tecnotree and Fitzroy will be released from any further payment
obligations regarding such Notes.

After Fitzroy has paid at least EUR 10,000,000 in total to Tecnotree under the
Notes, the amount of the above contractual penalty shall, however, not exceed
EUR 1,000,000.

Fitzroy and Royal Front Investments Group (“RFI”) have further agreed that RFI
will purchase the Notes from Fitzroy by Q2-2024. Provided that the said
purchases are closed as planned by Q2-2024, Tecnotree expects to receive full
payment for the remaining subscription price of the Notes by Q2-2024.

Fitzroy will remain ultimately liable towards Tecnotree for the payment of the
subscription price of the Notes pursuant to the above even after the said
purchases by RFI.

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 -
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