Business Wire

The CEO of Tecnotree Corporation, Padma Ravichander, acquires 15 million shares from Fitzroy Investments Limited

Share

Padma Ravichander, the CEO of Tecnotree Corporation (“Tecnotree”) has today entered an agreement, wherein Fitzroy Investments Limited (“Fitzroy”) will sell 15 million shares of Tecnotree to Padma Ravichander for a purchase price equivalent to the 10-day moving-average of the Tecnotree share price on the NASDAQ Helsinki Stock Exchange. The sale of these shares will be conducted in multiple tranches and will be completed by September 2022. The parties have agreed and are obliged to make the necessary market notifications as the tranches materialize.

“Tecnotree has been the best performing investment in our portfolio. It is our intention to remain Tecnotree’s single largest shareholder and maintain a long-term investment relationship in Tecnotree. However, we have come across a strategic opportunity to sell 15 million shares to Mrs. Ravichander, one of the key drivers behind Tecnotree’s recent success. With this transaction Fitzroy wants to signal its gratitude and commitment to the continued valuable co-operation with Padma,” said Neil Macleod, the Director of Fitzroy Investments Limited and the Chairman of the Board of Tecnotree.

“Tecnotree's purpose is to bring the Finnish technology competence and state of the art 5G technology solutions across the world. We have a clear growth strategy to create sustainable digital ecosystems with our customers and partners. The transaction with Fitzroy underpins our collective long-term commitment to the execution of our digital strategy,” said Padma Ravichander, the CEO of Tecnotree.

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 with a pre-integrated B2B2X partner ecosystem across gaming, heath, education, OTT and more. Tecnotree products, platforms and partners support emerging ecosystems of over 1 billion subscribers across 70+ countries. Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit www.tecnotree.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Padma Ravichander, CEO Tecnotree OYJ
Email: marketing@tecnotree.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Evolve Announces Next Phase of Development7.7.2022 17:00:00 CEST | Press release

Today Evolve Additive Solutions (“EAS”), a global leader in the manufacturing of capital equipment, announces organizational changes designed to accelerate technology developments within its production 3D printer for manufacturing customers. After 14 years of R&D investment, the company is retooling for commercialization with a focus on its highly reliable production platform and a strong customer return-on-investment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220706005781/en/ Joe Allison, CEO, Evolve Additive Solutions (Photo: Business Wire) The company is pleased to announce that current board member, Joe Allison, will join the company as CEO. Founder, Steve Chillscyzn will transition into the role of CTO and remain on the Board of Directors. “This new structure will allow me to focus my energies on accelerating technical developments within our STEP technology,” said Steve Chillscyzn. “The versatility of the platform

Mary Kay Inc. Partners With Dr. Jack Gilbert to Further Study Skin’s “Microbiome” and the Impact on the Aging Process7.7.2022 16:30:00 CEST | Press release

Mary Kay Inc., one of the world’s leading skincare research companies, has announced a new partnership with Dr. Jack Gilbert, professor of pediatrics at the University of California San Diego School of Medicine and professor of microbial oceanography at UC San Diego Scripps Institution of Oceanography. Through the partnership, scientists at Mary Kay will work in conjunction with Dr. Gilbert to study one of the most important—but least understood—areas of aging and skin health: the skin Microbiome. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220707005167/en/ Mary Kay Inc. has announced a new partnership with Dr. Jack Gilbert, professor of pediatrics at the University of California San Diego School of Medicine and professor of microbial oceanography at UC San Diego Scripps Institution of Oceanography. Through the partnership, scientists at Mary Kay will work in conjunction with Dr. Gilbert to study one of the most important

Payroll Tech Leader Mercans Appoints Tatjana Domovits as its Group CEO7.7.2022 16:00:00 CEST | Press release

Mercans’ board has appointed Tatjana Domovits, a long-serving executive, as their Global CEO. Mercans’ board expressed confidence that “Tatjana is the best person to lead Mercans into the future, building world-class payroll technology, transforming global payroll and the employer-of-record industry, and making global employment frictionless.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220707005410/en/ Tatjana Domovits – Group CEO – Mercans (Photo: AETOSWire) This announcement comes on the back of a record-breaking year for Mercans in 2021 and its ambitious plans that focus on driving revenue growth across all business lines. Mercans’ disruptive global payroll technology, which delivers native payroll processing capabilities and integrations with local tax authorities across 160 countries, has proven to be a huge success in the global payroll industry. Mercans intends to reach annual revenues in excess of $100 million fr

Tigo Energy Welcomes Bill Roeschlein as Chief Financial Officer7.7.2022 16:00:00 CEST | Press release

Tigo Energy, Inc., the solar industry’s leading Flex MLPE (Module Level Power Electronics) supplier, today announced that Bill Roeschlein has joined as its new Chief Financial Officer. In his new role, Mr. Roeschlein will lead the finance and legal teams at Tigo. He will focus on establishing the premier financial organization in the renewable energy industry, along with the processes and procedures that facilitate the growth of Tigo to the next stage of financial development. “Bill is exactly the type of Finance Executive that Tigo needs,” stated Zvi Alon, Chairman and CEO of Tigo. “His proven leadership as CFO at several different public companies combined with his experience in executing complex financial transactions including mergers, acquisitions, financings, and equity offerings will be invaluable as Tigo continues to evolve and grow.” Mr. Roeschlein brings a wealth of publicly-traded, pre-IPO, and international operations experience to the Tigo Executive Team. Mr. Roeschlein be

New Study shows Urolithin A (Mitopure®) Improves Mitochondrial Health, Reduces Joint Cartilage Damage and Alleviates Pain in Osteoarthritis7.7.2022 14:07:00 CEST | Press release

Amazentis, a spin-off of the Swiss Federal Institute of Technology (EPFL) pioneering scientific breakthroughs in cellular health and nutrition, announced today that the peer-reviewed journal Aging Cell published new pre-clinical results showing the joint health benefits of gut microbiome postbiotic Urolithin A (UA). This is the first time a compound has been shown to improve mitochondrial health in an experimental model of osteoarthritis (OA). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220707005266/en/ (Photo: Amazentis) This study showed that treatment with Amazentis’ proprietary Urolithin A, Mitopure, significantly improved mitochondrial health in human cartilage cells taken from both healthy and OA knee joints. And it showed that supplementation with Mitopure for eight weeks protected against osteoarthritis disease progression in an experimental model. These findings highlight Mitopure’s benefits for joint and mitocho