Westend ICT Oyj - Company Announcement

Innofactor Plc share consolidation

Innofactor Plc Stock Exchange Release 1 March 2011 at 13:45 Finnish time

Innofactor Plc share consolidation



At a meeting held on 28 February 2011, the Board of Directors of Innofactor Plc
decided to prepare for a General Meeting of Innofactor Plc an arrangement under
which the number of Innofactor Plc shares outstanding is reduced without
reducing the company's share capital. This share consolidation will result in
the combination of at least 20 and no more than 100 Innofactor Plc shares into
a new share (reverse-split ratio). 

In preparing the arrangement, the following alternatives are being
investigated: (i) an alternative under which the shares necessary to allow
share consolidation to take place will be allocated to individual shareholders
by the company's largest shareholders, and/ or by Innofactor Plc, at no charge,
(ii) an alternative in which the shares on each account that cannot be divided
by the reverse-split ratio are sold on the OMX Nasdaq Helsinki Stock Exchange
with the resulting sales proceeds being delivered to the holders of the related
accounts. 

The arrangement is being prepared on the basis that a General Meeting of
Innofactor Plc will be asked to authorise the Innofactor Plc Board of Directors
(i) to decide on the reverse-split ratio, (ii) to decide on the record date and
the share consolidation date, (iii) within the limits of an earlier
authorisation, to acquire and cancel the company's own shares so that the
number of shares outstanding can be divided by the reverse-split ratio, (iv) to
decide on actions to be taken regarding shares registered on the administrative
registers, and (v) to decide on any other actions that are required to complete
the share consolidation. The Board of Directors will propose that any
authorisation granted by the Innofactor Plc General Meeting be valid until 30
June 2011. 

The aim of the arrangement is to improve reliability in market price formation
for Innofactor Plc shares. 

Implementation of the arrangement requires approval by a General Meeting of
Innofactor Plc. Individual shareholders who together possess more than 50% of
the shares and votes in Innofactor Plc have indicated that they will support
the proposed arrangement. 

Implementation of the arrangement will not require any action by individual
shareholders. 



Espoo, 1 March 2011

INNOFACTOR PLC

BOARD OF DIRECTORS





Additional information:
Sami Ensio, CEO, Innofactor Plc
Tel. +358 (0) 50 584 2029
sami.ensio@innofactor.com

Distribution:
NASDAQ OMX Helsinki
Main media
www.innofactor.com