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15.4.2024 09:12

Consolidation of Tecnotree Corporation’s shares on 19 April 2024

Tecnotree’s Board of Directors proposes that the Annual General Meeting decide on the reduction of the number of the company’s shares without decreasing the share capital. It is proposed to implement the arrangement so that every 20 shares of the company are consolidated into one share. To avoid the creation of any fractions of shares, the Board proposes that the Board be authorised to decide on a directed bonus issue in which new shares will be issued free of charge so that the number of shares on each book-entry account will be divisible by twenty.

According to the proposal, the consolidation of shares will be implemented in the book-entry system after the end of stock exchange trading on 19 April 2024. The aim is to register the company’s new total number of shares in the Trade Register by the estimated date of 22 April 2024. Trading in the company’s new total number of shares is expected to commence in Nasdaq Helsinki under the new ISIN code on 22 April 2024.

Example:
If you now own 5,000 Tecnotree shares, you will own 250 new Tecnotree shares after the consolidation. Even though the number of shares changes, your share of ownership in the company will remain the same. The consolidation will not affect the value of your holdings. 

If implemented, the consolidation of shares will not require any action on the part of Tecnotree’s shareholders. Any transactions made with Tecnotree Corporation’s shares (FI0009010227) in the estimated period of 18–19 April 2024 will be changed into Tecnotree Corporation’s new shares. The transaction prices of the original transactions will be transferred to the transaction prices of the new shares. These price updates will be performed centrally at OP.

Key dates

  • 17 April 2024: The last day to buy Tecnotree shares before the consolidation of shares.
  • 19 April 2024: The record date/consolidation date. According to the proposal, the consolidation of shares will be implemented in the book-entry system after the end of stock exchange trading.
  • 22 April 2024: The first day of trading in Tecnotree shares with the new total number of shares.