GeoSentric Oyj - Company Announcement

CANCELLATION OF THE EXTRAORDINARY GENERAL MEETING SCHEDULED FOR 03 MAY 2012 AND FUNDING UPDATE

GEOSENTRIC OYJ      STOCK EXCHANGE RELEASE April 23, 2012 at 16:50





CANCELLATION OF THE EXTRAORDINARY GENERAL MEETING SCHEDULED FOR 03 MAY 2012 AND
FUNDING UPDATE 



As previously announced, the Company has been continuing to explore all viable
funding options available to it to ensure that it has sufficient liquidity to
secure its operations through 2012 and beyond. During March 2012 the Company
had received a signed proposal from the independent advisory business for a
funding of €350,000 subject to certain pre-conditions to be satisfied before
the funding could be received. On 3 April 2012, the Company reported that it
had not been able to obtain a crucial pre-condition from one of its largest
Shareholders and therefore the Company could not complete the signed proposal
for the funding. Thus the Company also informed that it would start preparing
the process for inviting the shareholders' meeting to decide on the placing of
the Company into liquidation. At the same time the trading in the Company's
shares in NASDAQ OMX Helsinki was suspended on the Company's request. On 12
April 2012 the invitation to the Extraordinary General Meeting of the
shareholders, which was to be held on Thursday, May 3, 2012 at 10:00 am, was
released. The Extraordinary General Meeting was being held to discuss the
financial status of the Company. 



The Company now reports that it has received and accepted a revised proposal
from the independent advisory business that does not require the same
pre-conditions be met. For this reason, the Board of Directors of GeoSentric is
cancelling the Extraordinary General Meeting scheduled for 03 May and will
instead convene an Annual General Meeting of the shareholders to confirm the
Funding. The invitation shall be released in the nearest future. The Company
will apply for the trading in the Company's shares to be continued on the
NASDAQ OMX Helsinki after the Financing has been received at the latest. 







GEOSENTRIC OYJ



Board of Directors





Distribution:

NASDAQ OMX Helsinki

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