Tecnotree Corporation Stock Exchange Release 30 December 2025 at 12:00 EET
Further to the Stock Exchange Release dated 8 December 2023, Tecnotree
Corporation ("Tecnotree") announces that its Board of Directors has approved an
extension of the payment deadline for EUR 20,000,000 of unpaid Compulsorily
Convertible Debenture notes ("CCDs") held by Fitzroy Investments Limited
("Fitzroy").
Background
On 8 December 2023, Fitzroy acquired 200 CCD notes with an unpaid subscription
price of EUR 20,000,000 from Markku Wilenius and committed to pay this amount by
Q4 2025. Fitzroy currently holds 45 paid CCD notes (EUR 4.5 million) and 200
unpaid CCD notes (EUR 20 million).
Extension Terms
The Board has approved Fitzroy's request to extend the payment deadline from Q4
2025 to 31 December 2026 on a payment-on-demand structure, whereby Fitzroy
commits to pay the EUR 20,000,000, in whole or in part, within 90 business days
of receiving written demand from the Company.
In connection with the extension, Fitzroy has committed to:
1. Pay EUR 20,000,000 in whole or in part within 90 business days upon written
demand by the Company;
2. Delay conversion of all 245 CCD notes (45 paid + 200 unpaid, once paid)
until 30 June 2028;
3. Retain existing accelerated conversion rights for any paid notes upon change
of control as per Clause 3 of the CCD Terms and Conditions.
Board Determination
The Board has determined that this arrangement serves the best interests of the
Company and all its shareholders. The Company's current financial position is
stable (Q3 2025: EUR 20.7 million cash and cash equivalents, EUR 3.2 million
positive free cash flow for the nine-month period) and the Company does not have
an immediate need for the EUR 20 million payment. The payment-on-demand
structure provides financial flexibility while avoiding unnecessary shareholder
dilution and optimizing enterprise value.
All other terms of the agreement dated 8 December 2023, including contractual
penalty provisions, remain unchanged.
Further information
Indiresh Vivekananda. CFO. tel. +971 56 410 8357
About Tecnotree
Tecnotree is a global provider of IT solutions for the management of services,
products, customers and revenue for Communications Service Providers. Tecnotree
helps customers to monetise and transform their business towards a marketplace
of digital services. Together with its customers, Tecnotree empowers people to
self-serve, engage and take control of their own digital life.
Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please
visit
www.tecnotree.com.