HIGH COURT OF DELHI HAS DISMISSED THE EXECUTION PETITION IMPOSED ON TECNOTREE

Tecnotree Oyj 

09.07.2012 08:45

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Tecnotree Corporation
Stock Exchange Release
July 9, 2012 at 9.45 am (EEST)



The High Court of Delhi has, as per the request of Tecnotree Corporation,
dismissed the execution petition related to a claim brought by Atul Chopra, a
former board member of Tecnotree Corporation, concerning an alleged breach by
Tecnotree Corporation of the Settelement Agreement dated 21 February 2011
reached with Atul Chopra. According to the decision of the High Court of Delhi,
all disputes relating to the Settlement Agreement shall be resolved in
arbitration in Singapore, as pleaded by Tecnotree. 

The company is not aware that Atul Chopra would have appealed the decision of
the High Court of Delhi or commenced arbitration proceedings in the matter. 

As a result of the decision of the High Court of Delhi, all funds temporarily
frozen at the bank account of Tecnotree Corporation in India have been
released. 


TECNOTREE CORPORATION

Board of Directors


Further information
Kaj Hagros, President and CEO, tel. +358 40 849 1749.

About Tecnotree
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 900
employees 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
News Source: NASDAQ OMX



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Language:     English
Company:      Tecnotree Oyj
              
               
              Finland
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         FI0009010227
WKN:          
 
End of Announcement                             DGAP News-Service
 
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