Savosolar To Decide On Directed Share Issue Of New Shares

Savosolar Oyj (SAVOH.HE):

• EGM RESOLVED TO AUTHORIZE BOARD OF DIRECTORS TO DECIDE ON A DIRECTED SHARE ISSUE OF COMPANY'S NEW SHARES

• DIRECTED SHARE ISSUE RELATES TO SHARE EXCHANGE WHERE COMPANY ACQUIRES ALL SHARES IN MERIAURA LTD

• MERIAURA LTD IN TURN OWNS ALL SHARES IN BIOLAITE LTD (NAME CHANGE TO VG-ECOFUEL LTD PENDING).

• MAY ISSUE IN DIRECTED SHARE ISSUE A MAXIMUM OF 547,906,581 NEW SHARES OF COMPANY TO VG-SHIPPING

• NEW SHARES TO BE ISSUED REPRESENT APPROXIMATELY 70.0 PER CENT OF COMPANY'S ALL SHARES AFTER EXECUTION OF SHARE EXCHANGE.