GeoSentric Oyj - Decisions of general meeting

RESOLUTIONS OF GEOSENTRIC OYJ ANNUAL GENERAL MEETING

GEOSENTRIC OYJ    STOCK EXCHANGE RELEASE July 1, 2011 at 15:45





RESOLUTIONS OF GEOSENTRIC OYJ ANNUAL GENERAL MEETING



The following resolutions were made by the Annual General Meeting of GeoSentric
Oyj held on June 29, 2011 and today on July 1, 2011 in the extended meeting: 





1. Confirming the annual accounts and deciding on handling the result for the
period according to the confirmed balance sheet 



The Annual General Meeting of GeoSentric Oyj confirmed the Income Statement and
the Balance Sheet of the company from the financial year 2010. The General
Meeting further resolved that the result from the period shall be booked on the
previous years' profit/loss account and that no dividend is paid. 



2. Discharge the members of the Board and Managing Director from liability



The Annual General Meeting resolved to discharge from liability the members of
the Board and the Managing Director. 



3. Resolution on the remuneration of the members of the Board of Directors and
the Auditor 



The Annual General Meeting approved the Board of Directors remuneration. The
gross meeting fee will be 1.500€ per attended in person meeting. 



The Annual General Meeting further resolved that the fees of the auditor shall
be paid in accordance with their reasonable invoice. 



4. Resolution on the number of the members of the Board of Directors and
election of members of the Board of Directors 



The Annual General Meeting resolved that the number of Board members is three
(3) and elected the following persons to the Board: Mike Po, Jeffrey B.
Crevoiserat and Vic Franck. 



The Board will convene later to appoint the Chairman of the Board.



5. Election of auditors



The Annual General Meeting re-elected Ernst & Young Oy, CPA Mr. Erkka Talvinko
acting as its responsible auditor, to its auditor, and PricewaterhouseCoopers
Oy to the deputy auditor. 



6. Financing proposals



The Annual General Meeting decided to confirm the approval of the lead
investor's financing proposal (“Proposal”) by the Board of Directors as
presented. As announced in a separate stock exchange release a group of
Company's largest shareholders have reached an agreement with the lead investor
on manner of execution of the Proposal, potentially also affecting some of the
terms of the Proposal. 



7. Authorization of the Board of Directors' to decide on increase of share
capital and issuing shares and special rights entitling to shares 



The Annual General Meeting decided to authorize the Board to issue up to
5,000,000,000 new shares, option rights and/or special rights entitling to
shares, and upon the increase of the Company's share capital as proposed. The
Board of Directors' proposal can be found on Company's web site at
www.geosentric.com. 





GeoSentric Oyj





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



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