Panostaja Oyj

Major Shareholding Notification • Apr 29, 2011

Disclosure 286832

Panostaja Oyj - Company Announcement

PANOSTAJA OYJ'S SHARE OF OWNERSHIP IN ECOSIR GROUP DECREASES BELOW 50 PERCENT

Panostaja Oyj Stock Exchange Bulletin 29th April 2011 11:00 a.m PANOSTAJA OYJ'S SHARE OF OWNERSHIP IN ECOSIR GROUP DECREASES BELOW 50 PERCENT Today a transaction has been executed in Panostaja -group's environmental technology -segment after which Panostaja Oyj's share of ownership has decreased to 49 % in segment's parent company Ecosir Group Oy. As a part of the transaction Panostaja Oyj has made circa 2.5 million euros investment in Ecosir Group Oy's invested unrestricted equity fund. The investment has been made by converting Panostaja Oyj's receivables amounting to 2.4 million euros and partly by making a new investment. In the same context Ecosir Group Oy's management and other shareholders have acquired from Panostaja Oyj Ecosir Group Oy's shares so that Panostaja Oyj's share of ownership has decreased below 50 percent and Ecosir Group Oy has discontinued to be Panostaja Oyj's subsidiary company. This whole transaction has no material effect on Panostaja -group's result. After this transaction Panostaja Oyj's receivables from Ecosir Group Oy are 2,2 million euros. These receivables are in form of a capital loan. In the future Panostaja Oyj will report Ecosir Group Oy as an associated company and after this transaction associated company's acquisition cost in Panostaja Oyj's balance sheet is 0,2 million euros. PANOSTAJA OYJ Juha Sarsama CEO For further information, please contact: Panostaja Oyj, CEO Juha Sarsama, tel. +358 40 774 2099