NACON — Proxy Solicitation & Information Statement 2011

Feb 17, 2011

VACON DRIVEN BY DRIVES

PROPOSAL BY THE BOARD OF DIRECTORS OF VACON PLC

TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS ON 22 MARCH 2011
TO AUTHORIZE THE BOARD OF DIRECTORS TO DECIDE ON THE ISSUANCE OF SHARES

The board of directors proposes to the general meeting that the board of directors be authorized to decide on issuance of shares as follows:

The amount of own shares to be issued shall not exceed 1,529,500 shares, which corresponds to ten (10) percent of all the shares in the company.

The board of directors shall be authorized to decide on the conditions for the issuance of shares. The shares can be issued as directed issuance of shares.

The authorization is effective until 22 March 2016. The authorization cancels the authorization given by the general meeting on 28 March 2007 to decide on the issuance of shares.

Vaasa, 17 February 2011

Board of Directors