Teleste's annual general meeting 2009

Decisions

The Annual General Meeting of Teleste Corporation held on 7 April 2009 resolved in accordance with the proposal of the Board of Directors to distribute a dividend of EUR 0.12 per share for 2008 for shares other than those held by the Company. The record date for the dividend is 14 April 2009 and the dividend will be paid on 21 April 2009.

The Annual General Meeting adopted the financial statements and the members of the Board of Directors as well as the CEO were discharged from liability for the financial year 2008.

The Annual General Meeting decided the number of members of the Board of Directors to be six. Mrs. Marjo Raitavuo was elected as the Chairman of the Board of Directors and Mr. Pertti Ervi, Mr. Tero Laaksonen, Mr. Pertti Raatikainen, Mr. Kai Telanne and Mr. Petteri Walldén were elected as members of the Board of Directors.

The annual remunerations to be paid to the members of the Board of Directors were decided to remain unchanged so that EUR 40,000 is paid to the chairman of the Board of Directors and EUR 25,000 is paid to other members of the Board of Directors. In addition, a meeting fee of EUR 250 per meeting will be paid to each member of the Board of Directors. The annual remuneration will be paid so that that 40 per cent of the annual remuneration will be used for purchasing the Company’s shares for the members of the Board of Directors and the rest will be paid in cash.

KPMG Oy Ab was elected as the auditor of Teleste Corporation with Mr. Esa Kailiala (APA) as the principally responsible auditor.

The Annual General Meeting decided to authorize the Board of Directors to repurchase the Company's own shares in accordance with the proposal of the Board of Directors. Based on the authorization, the Board of Directors may repurchase a maximum of 900,000 own shares of the Company otherwise than in proportion to the holdings of the shareholders by using the non-restricted equity.

The repurchase authorization is valid until the Annual General Meeting of Shareholders for year 2010.

The Annual General Meeting decided in compliance with the proposal of the Board of Directors to authorize the Board of Directors to decide on issuing new shares and/or conveying the Company’s own shares held by the Company and/or granting special rights referred to in Chapter 10, Section 1 of the Finnish Companies Act.

Based on the authorization, a maximum of 10,000,000 new shares may be issued and a maximum of 1,744,721 of own shares held by the Company may be conveyed. The maximum number of new shares that may be subscribed and own shares held by the Company that may be conveyed by virtue of the special rights granted by the Company is 5,000,000 shares in total which number shall be included in the above maximum numbers of new shares and own shares held by the Company.

The authorizations are valid until the Annual General Meeting of Shareholders for year 2010.