Glaston implements directed share issue without payment

Date: 3 May 2011

The Board of Directors of Glaston Corporation has decided in its meeting on 28 April 2011 to implement a directed share issue without payment on the basis of the authorisation granted to it by the Annual General Meeting on 5 April 2011.

By virtue of the authorisation, a maximum of 20,000,000 shares in the company may be issued.

In the share issue, a total of 3,092,501 new shares in the company will be issued without payment to those investors who have converted convertible bonds, issued by the company on 16 June 2009 and 18 February 2010, into shares in the company. In accordance with the conversion offer, the company has undertaken to compensate investors who participated in the conversion the price difference between the conversion price in accordance with the terms of the convertible bond EUR 1.30 per share and the company’s recent share price quotation with new shares in the company granted in the share issue without payment. More detailed terms of the share issue are appended to this stock exchange release.

The Company has applied from the Finnish Financial Supervisory Authority a permission to be exempted from a duty to release a prospectus while an admission for the stock exchange list is applied for the new shares issued in the directed share issue without payment.

The new shares will be entered into the Trade Register approximately on 6 May 2011. After the Trade Register entry, Glaston will have a total of 105,588,636 shares. The issued new shares will be of the same type as the company’s other shares. The new shares will be publicly traded on the Helsinki Stock Exchange approximately on 9 May 2011.

For further information, please contact: President & CEO Arto Metsänen, tel. +358 10 500 6100 Chief Financial Officer Tapio Engström, +358 10 500 6419