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2009-10-05 11:00:00 CEST 2009-10-05 11:00:01 CEST REGULATED INFORMATION Technopolis - Company AnnouncementTECHNOPOLIS RESTRUCTURES DEVELOPMENT SERVICESTECHNOPOLIS PLC STOCK EXCHANGE RELEASE October 5th, 2009 at 12.00 TECHNOPOLIS RESTRUCTURES DEVELOPMENT SERVICES Technopolis is restructuring its Development Services. Current economic conditions require new operating models that enable more cost-effective delivery of services focusing on client growth and funding needs. At the same time Technopolis has developed the technological and operational prerequisites to provide development services profitably using a centralized business model. The local subsidiaries of the Group's development services unit, Technopolis Ventures Ltd, are to be merged into the parent. Sophisticated, new video conferencing and web-based technologies will enable the centralization of a significant amount of service development, production and delivery. Sales will be organized locally through the Technopolis Plc business units. Most non-profit programs will be transferred to local public and private partners in cities across Finland by the end of 2009. It is estimated that the mandatory labour negotiations required by the Co-operation Act that will be initiated in the Technopolis Ventures business units will have an impact on 25-30 employees. The planned reorganization may include among other measures, terminations of employee contracts, as well as transfers of projects and/or personnel to external organizations, and internal transfers within Technopolis Plc. Reorganization is expected to be executed by the end of October 2009. The planned reorganization will have no impact on the Group's latest 2009 guidance. TECHNOPOLIS PLC Keith Silverang, President and CEO, Phone: +358 40 566 7785 Distribution: NASDAQ OMX Helsinki Ltd Major news media www.technopolis.fi |
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