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PRELIMINARYRESULTS OF THE EXTENDED OFFER PERIOD OF VIKING ACQUISITION CORP’S TENDER OFFERFOR ALL THE SHARES IN TECNOTREE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR HONG KONG OR IN ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW.

PRELIMINARY RESULTS OF THE EXTENDED OFFER PERIOD OF VIKING ACQUISITION CORP’S TENDER OFFER FOR ALL THE SHARES IN TECNOTREE

The extended offer period under the recommended public cash tender offer by Viking Acquisitions Corp. (“Viking” or the “Offeror”) to purchase all of the issued and outstanding shares in Tecnotree Corporation (“Tecnotree”) (the “Tender Offer”) expired on 30 April 2018 (the “Extended Period”).

According to the preliminary results of the Extended Period, the shares tendered during the offer period and the Extended Period represent approximately 64.0% of all the shares and votes in Tecnotree on a fully diluted basis as defined in the terms and conditions of the Tender Offer. The Offeror has acquired Tecnotree shares outside the Tender Offer representing approximately 23.9% of all the shares and votes in Tecnotree, and together with the shares tendered during the offer period and the Extended Period a total of approximately 87.9% of all the shares and votes in Tecnotree.

According to the terms and conditions of the Tender Offer, the completion of the Tender Offer is subject to the valid tender of Tecnotree shares representing more than 90% of all the shares and voting rights in Tecnotree, together with any other Tecnotree shares acquired by the Offeror, on a fully diluted basis. Provided that the final result of the Tender Offer confirms that the Offeror's holding will not exceed the 90% threshold, the Offeror has decided that it will not complete the Tender Offer.

Commenting on the Offeror’s decision not to complete the Tender Offer, Mike Shinya, President of the Offeror and Harri Koponen, chairman of the board of directors of Tecnotree, said:

“Whilst it is disappointing that Viking did not reach the goal of over 90% of shares in Tecnotree in the Tender Offer, we believe that there remains a positive and beneficial path forward for Viking and Tecnotree. Viking remains a significant debt holder in Tecnotree and owns nearly 24% of the shares in Tecnotree. As the largest shareholder, it is natural for Viking to have representation on the board of directors of Tecnotree. Thus, the board of directors of Tecnotree will propose to the annual general meeting of Tecnotree to be held on 30 May 2018 that Mike Shinya and Andrew Price of Viking be nominated as members of the board of directors of Tecnotree. We believe that the continued co-operation of Viking and Tecnotree will be best for Tecnotree’s employees, customers and other shareholders.”

Viking Acquisitions Corp. will announce the final result of the Tender Offer on or about 4 May 2018.  

FURTHER INFORMATION

• Harri Koponen, chairman of the Board of Tecnotree, phone +358 40 1922 464
• Padma Ravichander, CEO of Tecnotree, phone +97 15 641 414 20
• Mike Shinya, President of Viking, phone +44 7768 337351

Tecnotree in brief:

Tecnotree is a global supplier of telecom IT software products and solutions, for charging, billing, customer care, messaging and content management services. The Company’s product portfolio comprises virtually the full range (order-to-cash) business management solutions for telecom operators, with standard solutions for fixed networks, mobile services and broadband and for managing subscriptions, services and cash flows for prepaid and post-paid customers.

Tecnotree is listed on Nasdaq Helsinki Ltd. (TEM1V). For more information, please visit www.tecnotree.com.

Viking in brief:

Viking is a corporation incorporated and existing under the laws of Delaware, the United States. Viking and its affiliates focus on buying, strengthening and growing software companies worldwide.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR HONG KONG OR IN ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW.

THIS RELEASE IS NOT A TENDER OFFER DOCUMENT AND AS SUCH DOES NOT CONSTITUTE AN OFFER OR INVITATION TO MAKE A SALES OFFER. IN PARTICULAR, THIS RELEASE IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN, AND IS NOT AN EXTENSION OF THE TENDER OFFER, IN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR HONG KONG. INVESTORS SHALL ACCEPT THE TENDER OFFER FOR THE SHARES AND ONLY ON THE BASIS OF THE INFORMATION PROVIDED IN A TENDER OFFER DOCUMENT. OFFERS WILL NOT BE MADE DIRECTLY OR INDIRECTLY IN ANY JURISDICTION WHERE EITHER AN OFFER OR PARTICIPATION THEREIN IS PROHIBITED BY APPLICABLE LAW OR WHERE ANY TENDER OFFER DOCUMENT OR REGISTRATION OR OTHER REQUIREMENTS WOULD APPLY IN ADDITION TO THOSE UNDERTAKEN IN FINLAND.

THE TENDER OFFER IS NOT BEING MADE DIRECTLY OR INDIRECTLY IN ANY JURISDICTION WHERE PROHIBITED BY APPLICABLE LAW AND, WHEN PUBLISHED, THE TENDER OFFER DOCUMENT AND RELATED ACCEPTANCE FORMS WILL NOT AND MAY NOT BE DISTRIBUTED, FORWARDED OR TRANSMITTED INTO OR FROM ANY JURISDICTION WHERE PROHIBITED BY APPLICABLE LAW. IN PARTICULAR, THE TENDER OFFER IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, IN OR INTO, OR BY USE OF THE POSTAL SERVICE OF, OR BY ANY MEANS OR INSTRUMENTALITY (INCLUDING, WITHOUT LIMITATION, FACSIMILE TRANSMISSION, TELEX, TELEPHONE OR THE INTERNET) OF INTERSTATE OR FOREIGN COMMERCE OF, OR ANY FACILITIES OF A NATIONAL SECURITIES EXCHANGE OF, THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR HONG KONG. THE TENDER OFFER CANNOT BE ACCEPTED, DIRECTLY OR INDIRECTLY, BY ANY SUCH USE, MEANS OR INSTRUMENTALITY OR FROM WITHIN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR HONG KONG.