OREANDA-NEWS. Telescan AS extraordinary shareholders meeting held on 21 August 2013 was convened and the resolutions were adopted in accordance with the § 305 of Commercial Code.

The sole shareholder 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 25 000 (twenty five thousand) new shares with par value of 1.0 euro. The issue price per share is 1.2 euro and the share premium is 0.2 euro per share. The issued shares are of the same kind as the existing ones.

The share capital of Telescan AS is increased by 25 000 (twenty five thousand) euros to 50 000 (fifty thousand) euros.

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

The pre-emptive right to subscribe to the new shares by the shareholder is barred and the share issue is directed to Geosphere AS.

The shares shall be paid for by monetary contribution to the bank account of Telescan AS no later than by 21 August 2013.

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

This disclosure has been reviewed by Telescan AS Certified Adviser AS Cresco Vaartpaberid.