There is movement in Tecnotree’s ownership relationships − The major investor flagged and the debentures were exchanged for shares

The IT company that is the subject of the purchase offer Tecnotreen there have been changes in the ownership structure. According to Tecnotree’s flagging announcement, a major investor Jorma Nieminen ownership in the company exceeds ten percent. Nieminen owns Tecnotree directly and through his companies.

According to the owner information at the end of December on Tecnotree’s website, Nieminen is Tecnotree’s third largest owner with more than 1.7 million shares. .

Ownership shares are changing more

However, the shareholdings of the shareholders are about to change soon, as the company also says that it will convert compulsorily exchangeable bonds into shares, which will significantly reduce the share of the other shareholders in the company.

The number of new shares is approximately 5.8 million, after which Tecnotree’s number of shares is 22.8 million. The new shares will enter the share register in February.

The exchange right was based on the accelerated exchange right according to the terms of the bonds, which arose from the purchase offer made for the company last week.

The bonds are exchanged by the company’s two largest owners, the investment company Fitzroy InvestmentsCEO Padma Ravichander and in addition Johan Hammarénin Hammarén & Co -company.

According to Tecnotree’s announcements, Fitzroy received approximately 1.15 million shares in the exchange, Ravichander almost 3.1 million shares and Hammaré approximately 1.28 million shares. The conversion price was 3,909 euros.

of Fitzroy, Ravichander and of Helios Investment Partners formed by the consortium made a purchase offer for Tecnotree last week. The offer is EUR 5.70 per share.

Kyösti Kakkonen criticized in Kauppalehti that the offer was too low.

Kyösti Kakkosen has Joensuu Kauppa and Koneen mixed K22 Finance in portfolios and in their own names a total of 5.38 percent of Tecnotree’s shares and votes.