OREANDA-NEWS. Telescan AS extraordinary shareholders meeting held on 12th of February 2014 was convened and the resolutions were adopted in accordance with the § 305 of Commercial Code.

The shareholders of Telescan AS decided to increase the share capital of the company on the following terms:

To increase the share capital of Telescan AS by issuing 10 000 (ten thousand) new shares with par value of 1.0 euro. The issue price per share is 3.0 euro and the share premium is 2.0 euro per share. The issued shares are of the same kind as the existing ones.

The share capital of Telescan AS is increased by 10 000 (ten thousand) euros to 75 500 (seventy five thousand five hundred) euros.

The new shares have right to dividends from the current financial year.

The pre-emptive right to subscribe the new shares by the shareholders is barred and the share issue is directed to Geoshpere AS (reg. code 12074044).

The shares shall be paid for by monetary contribution to the bank account of Telescan AS no later than by 12th of February 2014.

The new shares will be applied for admission to trading on the First North Tallinn.

The new shares issued according to the extraordinary shareholders' meeting of Telescan AS have been fully subscribed and paid in by Geosphere AS on 12th of January 2014.