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    TEM1V   FI0009010227

TECNOTREE OYJ

(TEM1V)
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Tecnotree Oyj : Resolutions of the Extraordinary General Meeting of Tecnotree Corporation

07/30/2021 | 03:31am EDT

Tecnotree Corporation Stock Exchange Release 30 Jul 2021 at 10:30 EET

The Extraordinary General Meeting of Tecnotree Corporation (the "Company") was held on 30 July 2021 at 10 a.m. in Espoo.

The Extraordinary General Meeting resolved in accordance with the proposal of the Board of Directors to authorize the Board of Directors to decide on a directed share issue based on which a maximum of 30,577,778 new shares may be issued. The shares may be offered in deviation from the Company's shareholder' pre-emptive subscription right to be subscribed for by Joensuun Kauppa ja Kone Oy and Oy Hammarén & Co Ab at a subscription price of EUR 0.72 per share.

 The authorization for the directed share issue is valid until 30 September 2021. The authorization does not revoke any prior authorizations granted to the Board of Directors.

The Company announced by a stock exchange release on 9 July 2021 that it plans a directed share issue to raise approximately EUR 22 million in gross proceeds. The purpose of the planned directed issue is to support the debt repayment capability and strengthen the working capital of the Company.

TECNOTREE CORPORATION

For further information please contact CEO Padma Ravichander, tel. +971 56 414 1420

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. Tecnotree products and platforms service over 800 million subscribers worldwide.Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit www.tecnotree.com.

https://news.cision.com/tecnotree/r/resolutions-of-the-extraordinary-general-meeting-of-tecnotree-corporation,c3390693

https://mb.cision.com/Main/15858/3390693/1449494.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 62,6 M 73,3 M 73,3 M
Net income 2021 18,1 M 21,2 M 21,2 M
Net cash 2021 32,1 M 37,6 M 37,6 M
P/E ratio 2021 20,3x
Yield 2021 -
Capitalization 368 M 432 M 431 M
EV / Sales 2021 5,37x
EV / Sales 2022 4,43x
Nbr of Employees 688
Free-Float 76,2%
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 1,22 €
Average target price 1,54 €
Spread / Average Target 26,6%
EPS Revisions
Managers and Directors
Padma Ravichander Chief Executive Officer
Priyesh Ranjan Chief Financial Officer
Neil Mcleod Chairman
Sanjay Ketkar Vice President-Information Technology
Anders Fornander Independent Director
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