Tecnotree Oyj - Company Announcement

District Court’s Decision on Commencement of Restructuring Proceedings of Tecnotree Corporation

Tecnotree Corporation
Stock Exchange Release
9 March 2015 at 5.50 p.m. EET

On 5 March 2015 Tecnotree Corporation notified the markets of its resolution to
apply for debt restructuring proceedings. In the release the company told that
it sees its financial difficulties as temporary, and that via restructuring it
would be possible to remedy the company's financing and equity structure.
Restructuring would ease the debt liability of the company and consequently
also the shareholders' equity. The main creditor of the company, Nordea Bank
Finland Plc, together with another creditor, have announced being in support of
placing the company in the restructuring proceedings. 

The district court of Espoo has today, on 9 March 2015, decided to commence the
corporate restructuring proceedings concerning Tecnotree Corporation in
accordance with the Act on Restructuring of Enterprises. The district court has
appointed Mr. Jari Salminen, Attorney-at-Law, from JB Eversheds Oy as the
administrator in respect of the restructuring process. 

The deadlines in accordance with the district court's decision are the
following: 

1) Notification of claims to the administrator: 7 April 2015
2) Statement of the financial status of the debtor to the interested parties: 5
May 2015 
3) Draft restructuring program to the district court of Espoo: 6 July 2015

TECNOTREE CORPORATION


MORE INFORMATION
Ilkka Raiskinen, CEO, tel. +358 (0)45 311 3113
Ilkka.raiskinen@tecnotree.com

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main Media
www.tecnotree.com

About Tecnotree
Tecnotree is a global provider of telecom IT solutions for the management of
products, customers and revenue. Tecnotree helps communications service
providers to transform their business towards a marketplace of digital
services. Tecnotree empowers service providers to monetise on service bundles,
provide personalised user experiences and augment value throughout the customer
lifecycle. With over 1000 telecom experts, Tecnotree serves more than 100
service providers in over 70 countries. Tecnotree is listed on the main list of
NASDAQ OMX Helsinki with the trading code TEM1V. For more information on
Tecnotree, please visit www.tecnotree.com