Tecnotree Oyj - Company Announcement

Postponing of the draft restructuring program of Tecnotree Corporation

The district court of Espoo has decided to postpone the deadline for submitting
the draft restructuring program till 30 September 2015 

Tecnotree Corporation
Stock Exchange Release
3 July 2015 at 11.30 a.m. EEST

Postponing of the draft restructuring program of Tecnotree Corporation

The district court of Espoo decided on 9 March 2015 to commence the corporate
restructuring proceedings concerning Tecnotree Corporation in accordance with
the Act on Restructuring of Enterprises. The district court appointed Mr. Jari
Salminen, Attorney-at-Law, from JB Eversheds Oy as the administrator in respect
of the restructuring process. The court decided that a draft restructuring
program shall be submitted to the district court of Espoo by 6 July 2015 

The district court of Espoo has decided on 3 July 2015 at the request of the
administrator to postpone the deadline for submitting the draft restructuring
program till 30 September 2015. The contents of the request were as follows: 



“The administrator appointed in respect of the restructuring process requests
that the district court postpones the deadline for submitting the draft
restructuring program till 30 September 2015. 



It is not possible to compile a draft restructuring program by the 6 July 2015
deadline because: 



  -- the company is doing business in several continents causing the evaluations
     to take more time;



  -- the definition of the amount of secured debt is pending; and



  -- the financial statements for the financial year ended 31 March 2015 of
     Tecnotree Convergence Private Limited, a subsidiary in India, have not been
     completed, yet. Tecnotree Convergence Private Limited forms an integral
     part of the group activities.

Compiling of the draft restructuring program has progressed and no obstacles
for creating an implementable restructuring program and reorganization of the
business have come up in the evaluations during the restructuring process. “ 


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