Pihlajalinna Oyj - Company Announcement

Pihlajalinna Oyj : THE BOARD OF DIRECTORS OF PIHLAJALINNA OYJ CALLS FOR EXTRAORDINARY GENERAL MEETING TO DECIDE ON AUTHORIZATION TO ISSUE SHARES

Pihlajalinna Oyj    Stock Exchange release  20.11.2015, 17.30

THE  BOARD  OF  DIRECTORS  OF  PIHLAJALINNA  OYJ CALLS FOR EXTRAORDINARY GENERAL
MEETING TO DECIDE ON AUTHORIZATION TO ISSUE SHARES

As  stated in the Pihlajalinna Oyj's interim  financial report for the period of
1 January  2015 -  30 September  2015, following  the  company's  strategy,  the
company  is continuously  investigating opportunities  to expand its operations,
including expansions through mergers and acquisitions.

The  company's Board of Directors does not currently have valid authorization to
issue  company's  shares  to  be  used,  as  for example, to finance mergers and
acquisitions  and in the financing of  other investments following the company's
strategy.

The  Board  of  Directors  of  Pihlajalinna  Oyj  has  decided  to  call  for an
Extraordinary   General   Meeting.  The  Board  of  Directors  proposes  to  the
Extraordinary General Meeting that the board be authorized to decide on issuance
of  shares, share options, and other special rights entitling to shares referred
to in the Chapter 10, Section 1 of the Finnish Companies Act with one or several
decisions.  The number of new shares  issued pursuant to the authorization would
not  exceed 2 600 000 shares. The Board  of Directors proposes the authorization
to  be used as decided by the Board  of Directors, as for example, to strengthen
the company's balance sheet and financial position in connection with investment
and  expansion projects, such as mergers  and acquisitions, as per the company's
strategy.

The  Extraordinary  General  Meeting  is  held  in Tampere, where the company is
registered,  on  Monday  14 December  2015 commencing  at 12.00. A notice to the
extraordinary  general meeting to  decide on the  authorization for the Board of
Directors  will be published later today. The detailed information regarding the
Extraordinary General Meeting and the proposals by the Board of Directors can be
found from the notice, which can be found from the Pihlajalinna Oyj's website in
the  investor section at www.pihlajalinna-konserni.fi on 23 November 2015 at the
latest.

Sender

Terhi  Kivinen,  Director,  Communications,  Marketing  and  Investor Relations,
Pihlajalinna Oyj, puh. +358 40 848 4001, terhi.kivinen@pihlajalinna.fi


[HUG#1968543]