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Innofactor Plc submits to the stock exchange a report on fulfilling the listing criteria and an application for admitting the new shares to public trading

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11.03.2011 00:00

Innofactor Plc Stock Exchange Release March 11, 2011, at 14.30 Finnish time

Innofactor Plc submits to the stock exchange a report on fulfilling the listing criteria and an application for admitting the new shares to public trading

Innofactor Plc submitted today to NASDAQ OMX Helsinki a report on fulfilling the listing criteria and an application for listing the new shares (409,665,891 shares) in NASDAQ OMX Helsinki as of March 22, 2011.

On December 3, 2010, Westend ICT Plc and the shareowners of Innofactor Software Oy (former Innofactor Oy) signed an agreement on the merger of the companies and, in connection with the merger, Westend ICT Plc changed its name to Innofactor Plc.

The prerequisites for the agreement becoming valid were fulfilled as the General Meeting of Westend ICT Plc gave its acceptance on December 27, 2010. The General Meeting directed a share issue–a total of 409,665,891 shares–with stipulation concerning subscription in kind to the former shareholders of Innofactor Software Oy. The subscription price was paid by handing over 100% of Innofactor Software Oy (former Innofactor Oy) shares. The share issue was subscribed for and paid in full on December 27, 2010, and the new shares were registered in the Trade Register on December 31, 2010. After the registration of the new shares, the number of shares in the company is 585,236,987. The portion of the new shares of all the shares and votes in the company is 70.00%. The new shares have not been subject to public trading so far.

As a so called reverse acquisition has taken place, the arrangement requires submitting a report to NASDAQ OMX Helsinki on fulfilling the prerequisites of listing the new entity.

Innofactor Plc submitted today to NASDAQ OMX Helsinki a report on fulfilling the listing criteria and an application for listing the new shares (409,665,891 shares) in NASDAQ OMX Helsinki as of March 22, 2011.


Espoo, March 11, 2011

INNOFACTOR PLC
Sami Ensio
CEO


Additional information:
CEO Sami Ensio, Innofactor Plc
Tel. +358 (0) 50 584 2029
sami.ensio@innofactor.com


Distribution:
NASDAQ OMX Helsinki
Main media
www.innofactor.com