DONE SOLUTIONS TO ACQUIRE MAJORITY SHAREHOLDING IN TIOLAT
Done Solutions Corporation Stock Exchange Release November 30, 2005, at 4:30 p.m.
DONE SOLUTIONS TO ACQUIRE MAJORITY SHAREHOLDING IN TIOLAT Today Done Solutions Corporation signed an agreement with Gateway Finland Oy for purchasing all shares of Sunob Holding Oy, wholly owned by Gateway Finland Oy, on a share-swap basis. Done Solutions Corporation will offer 10 million new shares for subscription to Gateway Finland Oy for EUR 0.17 per share. According to the proposal, this private placement will waive shareholders' pre-emption rights. In addition to Sunob Holding Oy shares, Gateway Finland Oy will, as payment of share subscription, transfer EUR 25,736.62 in loan receivable and EUR 1,217,599.10 in subordinated loan receivable from Sunob Holding Oy. In connection with the deal, Done Solutions Corporation will buy Sunob Holding Oy's subordinated loan receivable at a nominal value of EUR 483,840.95. This agreement is subject to the decision of the Extraordinary General Meeting (EGM) of 19 December 2005 on a private placement of shares with Gateway Finland Oy, as proposed by the Board of Directors. Gateway Finland Oy is co-owned by Matti Nevalainen, member of Done Solutions Corporation's Board, and by Petri Kanervo, on a fifty-fifty basis. Sunob Holding Oy is a holding company, which owns 57.14% of the fast growing healthcare company Tiolat Oy. Tiolat Oy designs, sells and manufactures patented iCare-tonometers for eye specialists and opticians mainly for foreign markets. In the accounting period 1 April 2004-31 March 2005, Tiolat Oy's net sales totaled EUR 1.5 million and operating profit came to EUR 0.8 million. Its net sales and operating profit for the 9-month accounts period 1 April-31 March, 2005, is projected to exceed those recorded from the 12-month accounts period 1 April 2004- 31 March 2005. The acquisition of Sunob Holding Oy is in line with Done Solutions Corporation's new strategy of developing its business through company acquisitions. Done Solutions Corporation Pekka Pystynen President and CEO For further information, please contact: Pekka Pystynen, President and CEO, tel. +358 (0)205 253427, gsm +358 (0)50 0508 962, pekka.pystynen@donesolutions.com http://www.donesolutions.com Distribution Helsinki Stock Exchange Major media With its shares having been quoted on the Helsinki Stock Exchange's NM List since 2001, Done Solutions is organized into two business units: Done Logistics provides comprehensive logistics systems, based on automated materials-handling and supporting information systems; and Done Information, which provides multilingual documentation services. The Group's largest customers are based in the Nordic countries, Central Europe and the United States.