QPR SOFTWARE STREAMLINES ITS OPERATIONS

QPR SOFTWARE PLC        STOCK EXCHANGE RELEASE FEBRUARY 11, 2016 AT 9:45

QPR SOFTWARE STREAMLINES ITS OPERATIONS

QPR Software has decided to start planning streamlining in its operations. Targeted annual expense reduction is approximately EUR 0.7 million. The streamlining is deemed necessary, since internationalization of the Company´s software products will require investments in the future.

In reducing expenses, the Company aims to minimize impacts to personnel. However, since personnel expenses are the largest cost item, the Company believes that it may not be possible to implement expense reductions without personnel reductions. Therefore, the Company has today invited its personnel representative to co-determination negotiations. The negotiations apply to all personnel.

The planned measures may lead to reduction of 9 permanent employees through redundancies and/or lay-offs. The potential personnel reductions have financial and production-related groundings.

QPR SOFTWARE PLC

Further information:

Jari Jaakkola, CEO
Tel. +358 (0) 40 5026 397

DISTRIBUTION:
Nasdaq Helsinki
Main Media
www.qpr.com

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