Panostaja Oyj - Decisions of extraordinary general meeting

PANOSTAJA OYJ'S EXTRAORDINARY GENERAL MEETING

Panostaja Oyj        Stock Exchange Bulletin, 11th June 2008 at 11:45 am        

PANOSTAJA OYJ'S EXTRAORDINARY GENERAL MEETING                                   

Panostaja Oyj's Extraordinary General Meeting was held in Tampere on Monday, 9th
June 2008.                                                                      

The EGM unanimously approved the enclosed proposal of the Board of Directors in 
its entirety. Consequently, Panostaja Oyj will carry out a repayment of capital 
to Panostaja Oyj shareholders in Takoma Oyj shares and cash and a sale of shares
relating to the capital repayment in accordance with the terms and conditions   
described in the appendix.                                                      

PANOSTAJA OYJ                                                                   


Juha Sarsama                                                                    
CEO                                                                             

This stock exchange bulletin is a translation of the original Finnish stock     
exchange bulletin 9th June 2008.                                                

For further information, please contact Mr. Juha Sarsama, Chief Executive       
Officer, mobile +358 (04)0 774 2099.                                            

APPENDIX:                                                                       

PROPOSAL BY PANOSTAJA OYJ'S BOARD OF DIRECTORS TO THE EXTRAORDINARY GENERAL     
MEETING ON 9th JUNE 2008                                                        

As part of the Capital Repayment, Panostaja will distribute Takoma shares held  
by the company to shareholders holding no less than 3,000 Panostaja shares in   
proportion to their holdings in Panostaja. Correspondingly, shareholders holding
less than 3,000 Panostaja shares will receive the Capital Repayment in cash.    

Shareholders who are included in Panostaja's Shareholder Register kept by       
Finnish Central Securities Depository Ltd. on the record date of the Capital    
Repayment, 12th June 2008, are entitled to receive the Capital Repayment.       
Shareholders holding no less than a total of 3,000 Panostaja Class A and/or B   
shares (incl. Class B shares and new Class B shares) will receive 0.05 Takoma   
shares for each of their Class A, Class B or new Class B shares kept in a single
book-entry account. In other words, shareholders will receive one Takoma share  
for every 20 Panostaja shares of the same class entered in a single book-entry  
account. In cases where the division as per book-entry account and share class  
does not come out even, the balance will be distributed to shareholders in cash.

Shareholders holding less than a total of 3,000 Panostaja Class A and/or B      
shares will receive EUR 0.083 per each of their Panostaja shares, equating to   
0.05 of the value of one Takoma share. For the purposes of calculating the      
amount of cash consideration, the value of Takoma shares has been determined    
according to the volume-weighted average share price over a period of 30 days   
preceding the decision taken by Panostaja's Board of Directors on the Capital   
Repayment and Share Sale. The amounts of Capital Repayment will be rounded to   
the nearest full cent.                                                          

The shares distributed as part of the Capital Repayment will be entered in      
shareholders' book-entry accounts and the cash considerations payable as part of
the Capital Repayment will be deposited to the bank account linked to each      
shareholder's book-entry account on or around 26th June 2008.                   

In order to guarantee equal treatment of shareholders, those holding less than  
3,000 Panostaja shares have been reserved the right to purchase Takoma shares at
the volume equivalent to the Capital Repayment made in cash for the same share  
price used for measuring Takoma shares for the purposes of the Capital          
Repayment, i.e. at EUR 1.66 per share. The buy order can be placed at any branch
office of Nordea Bank Finland Plc (hereinafter referred to as ‘Nordea') in      
Finland. The period for placing buy orders will start on 16th June 2008 and end 
on 27th June 2008.                                                              

Shares must be paid for upon placement of the buy order as per instructions     
issued by Nordea, such that the payment will reach Nordea no later than 2nd July
2008. A buy order is binding and cannot be altered or cancelled.                

Shares sold as part of the Share Sale will be entered in the buyer's book-entry 
account once the buy order has been placed with Nordea, once the shares have    
been paid and once all terms relevant to the trade have been fulfilled. The     
shares will be entered in the book-entry account approximately no later than on 
the third day following placement of the buy order with Nordea and payment of   
shares and fulfilment of all terms relevant to the trade.                       

Nordea and Panostaja are entitled to refuse any erroneous and/or deficient      
orders.                                                                         

New shareholders will become entitled to shareholder rights conferred by Takoma 
shares distributed as part of the Capital Repayment and sold as part of the     
Share Sale as from the transfer of ownership. Ownership of the shares will be   
transferred to the buyer once the shares have been entered in the recipient's or
buyer's book-entry account.