Glaston Oyj Abp - Company Announcement

Glaston's Board of Directors approves convertible bond conversion undertakings

Helsinki, Finland, 2011-03-28 14:00 CEST (GLOBE NEWSWIRE) -- Glaston
Corporation                Stock Exchange Release         28 March 2011 at
15.00 

Glaston's Board of Directors approves convertible bond conversion undertakings

On 25 February 2011, Glaston published a stock exchange release outlining the
company's new financing package. As part of the arrangement, Glaston's
convertible bond investors were offered the opportunity to convert convertible
bond book entries into the company's shares. 

Glaston's Board of Directors has today approved conversion undertakings
totalling EUR 6.0 million euros, against which bond holders will receive in the
conversion 4,615,367 shares in Glaston. The share conversion will take place in
accordance with the terms and conditions of the convertible bond at a
conversion price of EUR 1.30 per share. To compensate for the difference
between the conversion price and the market price of the shares, the company
has agreed to provide the investors 21 cents per share as additional
consideration. 

Glaston's Board of Directors has proposed to the company's Annual General
Meeting, to be held on 5 April 2011, to authorise the Board of Directors to
decide on the issuance of shares. As part of the proposal, the Board of
Directors seeks an authorisation for a share issue without payment, which can
be used for the payment of the above-mentioned additional consideration
connected with the conversion of the convertible bond. 

The new shares are expected to be registered in the Trade Register on 4 April
2011. After the Trade Register entry, Glaston will have a total of 102,496,135
shares. The new shares will carry the same rights as the existing shares of the
company. The new shares are subject to trade in Helsinki Stock Exchange on or
about 5 April 2011. 



For further information, please contact:
President & CEO Arto Metsänen, tel. +358 10 500 6100
Chief Financial Officer Tapio Engström, +358 10 500 6419





Glaston Corporation
Arto Metsänen
President & CEO





Glaston Corporation
Glaston Corporation is an international glass technology company and a pioneer
in glass processing technology. Its product range and service network are the
widest in the industry. Glaston's notable brands are Bavelloni in
pre-processing machines and tools, Tamglass and Uniglass in safety glass
machines, and Albat+Wirsam in glass industry software. Glaston's share (GLA1V)
is listed on the NASDAQ OMX Helsinki Small Cap List. 



Distribution: NASDAQ OMX, key media, www.glaston.net