GeoSentric Oyj - Company Announcement

STATUS OF DIRECTED SHARE OFFERING

GEOSENTRIC OYJ      STOCK EXCHANGE RELEASE October 4, 2011 at 13:10





STATUS OF DIRECTED SHARE OFFERING



As previously announced, the Company is currently arranging a directed share
offering (“GSOY Offering”) to its largest shareholders. The GSOY Offering is
primarily intended to allow GSOY to participate in the planned second tranche
of the share offering of GeoSolutions Holdings NV (“GHNV”), its previously
wholly owned subsidiary (now 15% owned associate company). The second tranche
of the GHNV share offering, agreed to be executed on 14 October 2011 at the
latest, shall raise €2m directed equally to the lead investor and to the
Company, each being entitled to subscribe for new GHNV shares for the amount of
€1 million. 



The Company can confirm today that it has received signed investment
commitments for the GSOY Offering totaling €764,500 with further indications of
interest received that it is hopeful will result in signed commitment letters
and cash received in the next few days before the GSOY Offering is closed,
potentially up to the full planned amount of the GSOY Offering of €1.25
million. The Company intends to participate in the GHNV share offering to the
full amount of the funds raised by the GSOY Offering up to the maximum allowed
of €1 million. If the Company subscribes all the shares offered to it in the
second tranche of the GHNV share offering, the Company's shareholding in GHNV
will increase to approximately 24% after the repayment of the Convertible Bond
Loan 2008-B, which repayment was approved at the Company's EGM on September 8,
2011. In the event the GSOY Offering raises €764,500 and the Company subscribes
this amount for the shares offered to it in the second tranche of the GHNV
share offering, the Company's shareholding in GHNV would increase to
approximately 24.5%. In this case, the repayment of the Convertible Bond Loan
2008-B, which repayment was approved at the Company's EGM on September 8, 2011,
would not take place. The actual final percentage ownership is dependent upon
the extent of the Company's actual participation in the second tranche of the
GHNV share offering. The lead investor has agreed to underwrite the balance of
the second tranche of the GHNV share offering not funded by the Company and to
subscribe for up to the full €2m itself. 



The Company will announce the final total as soon as the offering is closed,
whereupon the Board will approve the commitments and will issue the new shares
based on the approved commitments shortly thereafter. As soon as practicably
possible following the share issue, the Company will issue a formal Prospectus
and apply to get the new shares listed and eligible for trading. This process
can take several months. 





GEOSENTRIC OYJ



Board of Directors



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NASDAQ OMX Helsinki

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