GeoSentric Oyj - Company Announcement

THE END OF THE SUBSCRIPTION PERIOD OF LOAN NOTE ISSUE AND CHANGES IN SECURITIES

GEOSENTRIC OYJ      STOCK EXCHANGE RELEASE May 15, 2009 at 14:30                


THE END OF THE SUBSCRIPTION PERIOD OF LOAN NOTE ISSUE AND CHANGES IN SECURITIES 


On September 3, 2008 GeoSentric Oyj informed upon issuance of a loan note to    
raise a maximum amount of EUR 16,000,000 (“Issue”). The subscription period of  
the Issue has ended on this day May 15, 2009 and the total amount of            
subscription was EUR 10,000,000. The loan note provides a minimum conversion    
ratio of EUR 0.106 and is exercisable only at predefined conversion events. The 
maximum amount of new shares to be subscribed by virtue of the subscribed note  
is 94,339,622 representing approximately 10.51 % of the registered share amount 
and 8.14 % of all the outstanding securities. Of the share subscription price   
EUR 0.01 is booked to share capital and the remainder in invested unrestricted  
equity fund. As a result of the Note, company's share capital may increase by a 
maximum of EUR 943,396.22.                                                      

The Board has decided in its meeting on May 14, 2009 to adopt Option Plan 2009-I
and issue a total amount of 3,000,000 options by virtue of the authorization    
granted by the Extraordinary General Meeting on September 10, 2007. The options 
are directed to the Board's independent advisors without charge as decided by   
the Board. The options may be converted into corresponding amount of new shares 
during the share subscription period ending on December 31, 2012 with a share   
subscription price of 0.045 euros per share. Option rights have been subscribed 
when issued.                                                                    

The Board has also decided upon allotment of option rights under the Option Plan
2008-V. According to the terms and conditions the maximum of 9,505,000 option   
rights shall be allotted to the key resources of the GeoSentric group during the
option subscription period, which ends on December 31, 2009. Of the reserved    
amount, a total of 9,277,500 options have now been allotted.                    


GeoSentric Oyj                                                                  


For more information, please contact: investors@gypsii.com                      

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NASDAQ OMX Helsinki                                                             
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