NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Stock Exchange Release
27 June 2012 at 2.30 pm EEST
The subscription period for Tecnotree's rights offering ended on 19 June 2012. Based on the preliminary result, approximately 49.9 million shares in total were subscribed for in the offering, representing approximately 101.9 per cent of the approximately 48.9 million shares offered in the rights offering. According to the preliminary result, 64.1 per cent of the offered shares were subscribed for pursuant to subscription rights and 35.9 per cent of the shares without subscription rights.
In accordance with the terms and conditions of the rights offering, subscriptions made without subscription rights shall be primarily accepted for those subscribers who have also subscribed for shares pursuant to the subscription rights. Secondly, subscriptions made without subscription rights shall be accepted for those subscribers who have subscribed for shares only without subscription rights. The subscriptions of these subscribers will be accepted with respect to each book-entry account in proportion to the number of shares which they have subscribed for.
Based on the preliminary result, the rights offering will be completed with subscriptions of at least EUR 5.0 million, which is a requirement for receiving a corresponding amount of credit limit for the purposes of financing working capital as stated in the prospectus regarding the rights offering. The main terms and conditions of the credit limit for the purposes of financing working capital has been accepted by the company and arranger of the limit.
Trading in interim shares representing the shares subscribed for pursuant to the subscription rights, as a separate class of securities, commenced on 20 June 2012. The interim shares will be combined with Tecnotree's existing share class when the shares subscribed for pursuant to the subscription rights have been registered with the Trade Register. Such combination is expected to occur on or about 29 June 2012 and the trading in the shares on the Helsinki Stock Exchange is expected to commence on or about 29 June 2012.
The final results of the offering will be published on or about 29 June 2012.
Summa Capital Oy acted as the manager in the offering.
In Espoo, 27 June 2012
Kaj Hagros, President and CEO, tel. +358 40 849 1749
NASDAQ OMX Helsinki Ltd.
Tecnotree is a global provider of a broad range of telecom IT solutions focused on charging, billing, customer care, messaging and content services. Tecnotree empowers communication service providers to create and monetize a broad marketplace of digital services, and augment value across the customer lifecycle. Acknowledged for agility and commitment, Tecnotree has more than 900employees serving over 100 operators globally. Tecnotree is listed on the main list of NASDAQ OMX Helsinki Ltd. with the trading code TEM1V. For more information on Tecnotree visit www.tecnotree.com
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, Hong Kong, South Africa or Japan. This release does not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.
The issue, exercise or sale of securities in the offering are subject to specific legal or regulatory restrictions in certain jurisdictions. Tecnotree assumes no responsibility in the event there is a violation by any person of such restrictions.
The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the applicable prospectus published or offering circular distributed by Tecnotree.
Tecnotree has not authorized any offer to the public of securities in any Member State of the European Economic Area other than Finland. With respect to each Member State of the European Economic Area other than Finland and which has implemented the Prospectus Directive (each, a “Relevant Member State”) no action has been undertaken or will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant Member State. As a result, the securities may only be offered in Relevant Member States (a) to any legal entity which is a qualified investor as defined in the Prospectus Directive; or (b) in any other circumstances falling within Article 3(2) of the Prospectus Directive. For the purposes of this paragraph, the expression an “offer of securities to the public” means the communication in any form and by any means of sufficient information on the terms of the offer and the securities to be offered so as to enable an investor to decide to exercise, purchase or subscribe the securities, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State and the expression “Prospectus Directive” means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression “2010 PD Amending Directive” means Directive 2010/73/EU.
This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Summa Capital Oy is acting for Tecnotree Corporation and no one else in connection with the proposed rights offering and will not regard any other person (whether or not a recipient of this release) as a client in relation to the proposed rights offering and will not be responsible to anyone other than Tecnotree Corporation for providing the protections afforded to their respective clients or for providing advice in relation to the proposed rights offering or any matters referred to in this release.
Summa Capital Oy accepts no responsibility whatsoever for the contents of this release, and makes no representation or warranty, express or implied, for the contents of this release, including its accuracy, completeness or verification, or for any other statement made or purported to be made by it, or on its behalf, in connection with Tecnotree Corporation or the ordinary shares or the proposed rights offering, and nothing in this release is or shall be relied upon as, a promise or representation in this respect whether as to the past or future. Summa Capital Oy accordingly disclaims to the fullest extent permitted by law all and any liability whether arising in tort, contract or otherwise which they might otherwise have in respect of this release or any such statement.