Finanssivalvonta - Company Announcement

Incap Corporation reprimanded for neglect of the disclosure obligation as referred to in the EU Commission's Prospectus Regulation and the Securities Markets Act

FINANCIAL SUPERVISORY AUTHORITY                    Press release 5 May 2011

Incap Corporation reprimanded for neglect of the disclosure obligation as
referred to in the EU Commission's Prospectus Regulation and the Securities
Markets Act 

The Financial Supervisory Authority (FIN-FSA) has issued a public reprimand to
Incap Corporation for neglect of the disclosure obligation as referred to in
the Prospectus Regulation and the Securities Markets Act. In its listing
particulars dated 29 June 2010, the company provided a so-called clean working
capital statement, according to which the company has a sufficient cash flow
from operating activities and unutilised funding sources for the following 12
months. However, due to the ongoing funding negotiations, the company did not
have sufficient certainty of this. Thus, the company should not have provided
the clean working capital statement. Instead it should have provided a
description of how it proposes to provide the additional working capital
needed. 

The neglect of the Prospectus Regulation simultaneously led to neglect of the
Securities Markets Act. In the prospectus, the company did not provide the
essential and adequate information on its financial position required in the
Securities Markets Act. 

The company has the right to appeal the decision adopted on 28 April 2011 to
the Helsinki Administrative Court within 30 days of the company's receipt of
notice of said decision. Thus the public reprimand does not yet have legal
force. 

For further information,
please contact Olli Laurila, Senior Legal Advisor, tel. +358 10 831 5337.

Appendix
FIN-FSA decision (in Finnish)

Attachments:

Incap_sanktiopäätös.pdf