Decisions by the Annual General Meeting

Solteq's Annual General Meeting approved the financial statement for period 1.1.-31.12.2011 and discharged those accountable from liability. The Board of Directors' proposal of to the Annual General Meeting that the Board is authorized in accordance with the Finnish Companies Act 13 chapter 6§ 2 paragraph to decide on a maximum dividend of 0,05 euros per share or other distribution of funds from the distributable equity fund as well as to decide upon the timing of the distribution and other details was accepted. The authorization is valid until the beginning of the next Annual General Meeting.

The Annual General Meeting decided that the Board of Directors includes six members. Ali U. Saadetdin, Seppo Aalto, Markku Pietilä, Sirpa Sara-aho and Jukka Sonninen were re-elected. Matti Roininen was elected as a new member of the Board. Matti Roininen was born in 1956 and his education is Vocational Qualification in Business and Administration.  He has worked in Valio Oy since 2006 as the field sales manager and earlier he has worked in Tuko Oy and Tuko Logistics Oy in years 1980-2005.

KPMG Oy Ab continues as the auditor.

In addition, the Annual General Meeting approved the following proposal by the Board (Stock Exchange Release February 16, 2012).

Decided to authorize the Board of Directors to decide on the purchase of the Company's own shares to improve the capital structure, to be used as a part of remuneration of personnel, to finance and execute business acquisitions and other business arrangements or to be further transferred or cancelled. The proposal includes authorization to take company’s own shares as a pledge. According to the proposal, the total number of the shares purchased shall not exceed 10 percent of all shares of the Company and they can be purchased otherwise than in proportion to the shareholdings of the shareholders. The shares shall be purchased through public trading. The authorization includes that the Board of Directors may decide the terms and other matters concerning the purchase of own shares. The authorization is effective until the next Annual General Meeting.

Decided to authorize the Board of Directors to give new shares or convey company’s own shares.  The authorization would be executed by one or more share issues, maximum total amount being 3.000.000 shares. The authorization includes a right to deviate from the shareholders’ pre-emptive right of subscription. The authorization includes that the Board of Directors may decide the terms and other matters concerning the share issue. The authorization is effective until March 31, 2013. This authorization does not overrule earlier given authorizations by the Annual General Meeting.

In the Board meeting, held after the Annual General Meeting, Ali U. Saadetdin was elected as the Chairman of the Board.

Solteq Plc

For further information please contact:

Ali U. Saadetdin, Chairman of the Board
Tel +358 20 1444 201 or +358 40 8444 201
e-mail ali.saadetdin@solteq.com

Repe Harmanen, CEO
Tel +358 400 467717
e-mail repe.harmanen@solteq.com

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