Tecnotree Oyj — M&A Activity 2020

Mar 19, 2020

Viking Acquisition Corporation files claims against Tecnotree; Tecnotree rejects Viking Acquisition Corporation’s offer to buy assets

Viking Acquisition Corporation files claims against Tecnotree; Tecnotree rejects Viking Acquisition Corporation’s offer to buy assets

Tecnotree Corporation has learned that Viking Acquisition Corporation has filed
a claim before the District Court of Länsi-Uusimaa to nullify certain
resolutions of Tecnotree’s board from 2018 and 2019 that approved the previously
announced investments of Fitzroy Investments Limited and Luminos Sun Holding
Limited into Tecnotree. Viking Acquisition Corporation has also filed a claim
for damages against the previous and current board of directors of Tecnotree.

Tecnotree firmly believes that the claims do not hold any merit and will take
all necessary measures to contest the claims.

Additionally, Tecnotree has received a non-binding offer from Viking Acquisition
Corporation for the purchase of Tecnotree’s certain operational assets. The
offer has been rejected by Tecnotree’s Board as it is not in line with the
strategy of the Company and not in the best interests of Tecnotree or the
shareholders of Tecnotree.

Further information:

Padma Ravichander. CEO. tel. +971 56 414 1420

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 monetize service bundles, provide
personalized user experiences and augment value throughout the customer
lifecycle. With around 600 telecom experts, Tecnotree serves around 90 service
providers in around 70 countries. Tecnotree is listed on the main list of NASDAQ
Helsinki with the trading code TEM1V.

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