RESOLUTIONS OF GEOSENTRIC OYJ ANNUAL GENERAL MEETING

GeoSentric Oyj 

05.06.2012 11:45
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GEOSENTRIC OYJ    STOCK EXCHANGE RELEASE June 5, 2012 at 12.45





RESOLUTIONS OF GEOSENTRIC OYJ ANNUAL GENERAL MEETING



The following resolutions were made by the Annual General Meeting of GeoSentric
Oyj held on June 5, 2012: 





1. Confirming the annual accounts and deciding on handling the result for the
period according to the confirmed balance sheet 



The Annual General Meeting of GeoSentric Oyj confirmed the Income Statement and
the Balance Sheet of the company from the financial year 2011. The General
Meeting further resolved that the result from the period shall be booked on the
previous years' profit/loss account and that no dividend is paid. 



2. Discharge the members of the Board and Managing Director from liability



The Annual General Meeting resolved to discharge from liability the members of
the Board and the Managing Director. 



3. Resolution on the remuneration and incentives of the members of the Board of
Directors and the Auditor 



The Annual General Meeting approved the Board of Directors' remuneration and
incentives. The gross meeting fee will be 2.000EUR per attended in person meeting
up to eight meetings per year. In addition the Board members shall be entitled
to stock options as proposed and they would have the right to convert their
unpaid meeting fees in the shares of the Company in accordance with the terms
set out in the proposal to the Annual General Meeting. 



The Annual General Meeting further resolved that the fees of the auditor shall
be paid in accordance with their reasonable invoice. 



4. Resolution on the number of the members of the Board of Directors and
election of members of the Board of Directors 



The Annual General Meeting resolved that the number of Board members is three
(3) and elected the following persons to continue on the Board: Victor Franck,
Jeffrey Crevoiserat and Mike Po. 



The Board elected Victor Franck to continue as the Chairman of the Board.



5. Election of auditors



The Annual General Meeting re-elected Ernst & Young Oy, CPA Mr. Erkka Talvinko
acting as its responsible auditor, to its auditor. 



6. Financing proposals



The Annual General Meeting decided to confirm the EUR350,000 funding proposal
('Proposal') from the independent advisory business as proposed. 



7. Cancellation of outstanding option rights



The Annual General Meeting decided to cancel all the outstanding 88,918,555
option right subject to the terms and conditions of the option rights and
consent by the option holders as required. 



8. Reverse share split



The Annual General Meeting decided on the reverse share split in maximum ratio
of 10:1 to be implemented on December 31, 2012 at the latest. The Board was
authorized to set the exact redemption ratio and the record date for the
reverse split when the pre-conditions for implementing the reverse split have
been fulfilled, which is expected to take several months. 





GeoSentric Oyj





For more information, please contact: investors@gypsii.com



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Language:     English
Company:      GeoSentric Oyj
              
               
              Finland
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         FI0009004204
WKN:          
 
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