NovaCast Technologies Ltd. (publ), Press release from annual general meeting 22 April 2009

NovaCast Technologies Ltd. (publ), Press release from annual general meeting 22
April 2009

•	Increased rate of order intake for Camito
•	Hans Wikman (Manager, Large Vehicle Line Volvo Cars) and Lars-Olof Strand
(entrepreneur and founder of among others Alligator group) elected as new
members of the Board of Directors
•	Bo Hedenström elected as new Chairman of the Board
•	Authorization for new shares issue and/or non-cash issue


At the annual general meeting NovaCast Technologies CEO Hans Svensson presented
the report for the first quarter of 2009 that was published during the day. A
definite improvement in the result has taken place compared to the last quarter
of 2008 and the operating loss, which was adjusted for single events, improved
from 
-13,9 MSEK to -8,0 MSEK. The effects of personnel reductions that were announced
through notices of dismissal will have a positive influence from the next
quarter of 2009.

CEO Hans Svensson also noted that the frequency of closing deals on die shoe
castings and dies to Camito and SwePart had increased somewhat at the end of the
period, as well as after the period and new deals are expected to be closed in
the near future. 

During the current year, since it is too early to be sure of any trend change in
the market, the Board will focus on controlling costs and cash flow, as well as
on development and quality assurance of the group's basic technology products. 
Extra measures will also be taken to increase the group's production volumes.  

After the CEO had presented and analyzed the result for 2008, where the major
loss took place during the last quarter, and auditor Claes Thimfors presented
the audit for 2008, the meeting adopted the result and balance sheet and
accepted the Board's proposal for allocation of the result. No dividends were
proposed. The meeting also discharged the Board from liability for 2008. 



The meeting decided that remuneration to Board members should be unchanged, i.e.
650.000 SEK to be divided so that the Chairman of the Board receives 150.000 SEK
and the remaining members will receive 100.000 SEK each.

The meeting decided that the guidelines for remuneration to senior executives
should be kept in accordance with the Board's suggestions.

The meeting decided to authorize the Board to make a decision about an issue
with preferential right for existing shareholders of up to 4 million B-series
shares. 

It was also decided that the Board be authorized to make a decision about a new
shares issue of up to 2 million B-series shares deviating from shareholders'
preferential rights. The Board wishes to be prepared to conduct a possible
acquisition.

The Board 

The meeting decided on re-election of Board members Bo Hedenström, Jan-Erik
Dantoft and Hans Svensson, as well as election of two new Board members, Hans
Wikman and Lars-Olof Strand. Bo Hedenström, who has been a member of the Board
since 2001, was elected as new Chairman to replace Pater Augustsson, who
declined re-election after having accepted a new operational position abroad.

Hans Wikman, 63, with a degree in economics from Umeå University, Sweden, has
held various managerial positions within Volvo Cars during the last 26 years.
His latest position was that of Project Director Vehicle Line responsible for
development of Volvo's large car models. Hans Wikman was among others
responsible for development of the Volvo XC90 and he has also held positions as
business controller, in product economics and within engine development, as well
as project coordinator for new engines. 

Lars O. Strand, 67, mechanical engineer and certified market economist, has
extensive experience in leading positions in the supplier chain to among others
the automotive industry. Lars is a typical entrepreneur and businessman. Among
others in 1981 he started the Alligator group, which supplies heat exchangers
and cooling systems to among others Volvo Trucks, Scania, Siemens and
Electrolux. He has also run companies within special vehicles and logistics.   

The Nominating Committee for the coming year consists of Kenneth Turban
(chairman), Bo Hedenström and Torsten Nilsson.

The annual general meeting was held at Piperska Muren in Stockholm on April 22,
2009.
For further information kindly contact CEO Hans Svensson, +46 457 386 302 or +46
705 652 250. Visit our website www.novacast.se.