Inion Oyj - Company Announcement

Proposed Cancellation of UK Listing and Notice of AGM

Inion Oy
(“Inion” or the “Company”)

Proposed cancellation of admission of Ordinary Shares to the Official List and
to trading on the London Stock Exchange's market for listed securities 

and

Notice of Extraordinary General Meeting

Tampere, Finland and Guildford, UK. 29 April 2009, Inion (LSE: IIN.L), a
company focused on the development and commercialisation of novel biodegradable
medical implants, today announces that it is proposing to cancel the admission
of its Ordinary Shares to the Official List and to trading on the London Stock
Exchange's market for listed securities. 

A circular has today been posted to Shareholders with a notice of the
Extraordinary General Meeting to approve the Delisting. The circular is also
available on the Company's website www.inion.com 

Background to and reasons for the Delisting

Over the past year, the Directors have been seeking efficient and
cost-effective ways to raise further equity capital to allow the Company to
continue the development of its various projects. Regrettably, against the
background of the current financial market, the Company has had difficulty
raising sufficient capital for such purposes. 

As the Company announced on 26 March 2009, Inion has continued to attempt to
conserve its cash resources by implementing measures to reduce overhead
expenditure and headcount levels. Notwithstanding these measures, the Company
continues to require urgent additional funding to finance its working capital
requirements in the short term. After careful consideration, the Board has come
to the conclusion that the regulatory and financial requirements of a listing
on the Official List are too onerous for a company of Inion's size and place
too great a burden on the Company as it continues to seek methods of raising
additional funding. 

The Directors believe that following the Delisting, the Company will be better
placed as an unlisted company either (i) to approach potential investors and/or
buyers of the Company's assets in order to raise the necessary funds to execute
the business plan, focused on the spinal implant range, or (ii) failing such
additional investment/disposals, to facilitate a liquidation of the Company. 

Requirement for the Delisting

Pursuant to the Listing Rules, the Delisting is conditional upon the approval
by not less than 75 per cent. of the holders of Ordinary Shares (being entitled
to do so) voting in person or by proxy. Subject to the requisite Shareholder
approval, the last day of dealings in the Ordinary Shares is expected to be 23
June 2009, and Delisting is expected to be effective from 8.00 am on 24 June
2009. 


Expected timetable of key events

Posting of circular to Shareholders	               29 April 2009

EGM	                                          11.00am Finnish time on 26 May
2009 

Last day of dealings in Ordinary Shares on 
the Official List	                                 23 June 2009

Ordinary Shares cancelled from admission to 
the Official List and to trading on the 
London Stock Exchange's market for listed 
securities 	                                 24 June 2009
		

- Ends -


For further information, please contact:

Inion Oy 
Chris Lee, Chief Executive Officer
Julien Cotta, Chief Financial Officer
Tel: +44 (0)1483 685390

Citigate Dewe Rogerson
Mark Swallow / David Dible / Helena Galilee
Tel: +44 (0)207 638 9571

Piper Jaffray Ltd 			
Will Carnwath / Vijay Barathan	
Tel: +44  (0)20 3142 8700


About Inion (www.inion.com)

Inion Oy is a medical devices company focused on the development and successful
commercialisation of innovative and unique biodegradable and bioactive surgical
implants in selected high value orthopaedic market segments. 

Inion's core expertise and technology lies in the design and manufacture of
innovative biodegradable plates, screws, pins and membranes, which are used to
enhance the healing of bone or soft tissue injuries to the skeleton, such as
those caused by trauma or by reconstructive surgery. Inion implants are made
from its proprietary Inion Optima™ family of biomaterials, with properties
tailored for specific surgical applications, in terms of strength, flexibility
and rate of degradation 
 
Inion is also focused on developing proprietary new bioactive and biodegradable
biomaterials that promote bone healing and accelerate patient rehabilitation. 

Inion was incorporated in early 2000 and listed on the Official List of the UK
Listing Authority in December 2004 (ticker: IIN). The Company has offices in
the UK and USA, and its head office, R&D and production facilities are in
Tampere, Finland. 

This announcement includes "forward-looking statements" which include all
statements other than statements of historical facts, including, without
limitation, those regarding the Group's financial position, business strategy,
plans and objectives of management for future operations (including development
plans and objectives relating to the Group's products), and any statements
preceded by, followed by or that include forward-looking terminology such as
the words "targets", "believes", "estimates", "expects", "aims", "intends",
"will", "can", "may", "anticipates", "would", "should", "could" or similar
expressions or the negative thereof. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors beyond the
Group's control that could cause the actual results, performance or
achievements of the Group to be materially different from future results,
performance or achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous assumptions
regarding the Group's present and future business strategies and the
environment in which the Group will operate in the future. Among the important
factors that could cause the Group's actual results, performance or
achievements to differ materially from those in forward-looking statements
include those relating to Inion's funding requirements, regulatory approvals,
reliance on third parties, intellectual property, key personnel and other
factors. These forward-looking statements speak only as at the date of this
announcement. The Group expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements
contained in this announcement to reflect any change in the Group's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statements are based. As a result of these
factors, prospective investors are cautioned not to rely on any forward-looking
statement.