Westend ICT Oyj - Decisions of extraordinary general meeting

DECISIONS OF THE EXTRAORDINARY GENERAL MEETING OF WESTEND ICT PLC

Westend ICT Plc  Stock Exchange Release  December 27, 2010, at 14:10 Finnish
time <strong style="mso-bidi-font-weight: normal"><strong style="mso-bidi-font-weight: normal">DECISIONS OF THE EXTRAORDINARY
GENERAL MEETING OF WESTEND ICT PLC <strong style="mso-bidi-font-weight: normal">





The Extraordinary General Meeting of Westend ICT Plc on December 27, 2010, has
made the following decisions: <strong style="mso-bidi-font-weight: normal">Share issue



The General Meeting decided on a share issue with stipulation concerning
subscription in kind and deviating from the pre-emptive rights of the existing
shareholders in such a way that the shares are offered for subscription to the
shareholders of Innofactor Software Oy (former Innofactor Oy).<strong
style="mso-bidi-font-weight: normal"> 409,665,891 new shares are offered for
subscription. The subscription price of a share is EUR 0.04.<strong
style="mso-bidi-font-weight: normal"> The subscription price shall be paid in
kind by transferring to the company, in connection with the subscription, at
least 90% of Innofactor Software Oy shares outstanding.<strong
style="mso-bidi-font-weight: normal">



All offered shares have been subscribed to today, December 27, 2010, in
accordance with the terms of the share issue, and the company has received
3,375,869 shares of Innofactor Software Oy, which correspond to 100% of all
Innofactor Software Oy shares outstanding. <strong style="mso-bidi-font-weight: normal">Amendment to the Articles of
Association 



Section 1 of the Articles of Association was changed to read as follows:"1 § The company's business name and domicile<i style="mso-bidi-font-style: normal">The company's business name is
Innofactor Oyj, Innofactor Plc in English, Innofactor Abp in Swedish, and its
domicile is Espoo."<strong style="mso-bidi-font-weight: normal"><i style="mso-bidi-font-style:
normal"><strong style="mso-bidi-font-weight: normal">Board of Directors



It was decided that four (4) members should be selected to the company's Board
of Directors and the following persons were selected: Sami Ensio, Pekka
Puolakka, Mikko Salminen and Ilpo Santala. <strong style="mso-bidi-font-weight: normal">Authorization of the Board of
Directors 

The General Meeting authorized the Board of Directors to repurchase a maximum
of 50,000,000 shares of the company in one or several lots using the company's
unrestricted equity. The authorization shall authorize the Board of Directors
to make the repurchase otherwise than in proportion to the shares owned by the
shareowners (directed repurchase). The shares shall be purchased in market
price in the public trading arranged by Nasdaq OMX Helsinki Oy. The company may
at any time have in its possession one tenth of all its shares at the maximum. 

Shares may be purchased to be used in company acquisitions or implementing
other arrangements relating to the company's business operations, improving the
company's capital or financing structure, as part of the company's incentive
system, or otherwise to be handed over or voided. In implementing purchases of
own shares, normal derivative contracts, lending of shares and other contracts
in accordance with laws and regulations may be made. 

The authorization includes the right of the Board of Directors to decide on all
other matters related to the purchase of shares. The authorization shall be
valid for 18 months starting from the decision of the General Meeting. <strong style="mso-bidi-font-weight: normal"><i style="mso-bidi-font-style:
normal"><strong style="mso-bidi-font-weight: normal">Other



64.45 percent of the company's share capital and votes were present in the
General Meeting. The decisions of the meeting were made unanimously according
to th proposals of the Board of Directors. 


The minutes of the meeting will be displayed for view of the shareholders at
the head offices of the company on January 10, 2011, at the latest. 





The Board of Directors of Westend ICT Plc



Additional information: Sami Ensio, CEO

Tel. +358 (0) 50 5842029







Distribution:

NASDAQ OMX Helsinki

Main media

www.westendict.com