The Board of Directors of EOS Russia can confirm the reports that have appeared in Russian news media today that the Chairman of the Board, Seppo Remes, was denied entry into Russia on 22 March when returning to the country after a vacation. The deportation notice served on Mr Remes, who has been permanently resident in the Russian Federation since 1993, was not accompanied by any official explanation of the reasons for this decision; the competent Russian authorities merely affirmed their right to take such action under relevant laws and regulations. The Board regards this as an unfortunate development for EOS Russia and affirms its sympathy and support for Mr Remes personally in his efforts to clarify the situation and obtain the Russian authorities' approval to resume his residence and professional activity in Russia. For this purpose, public discussion can often be inappropriate, and on being promptly informed by Mr Remes of this situation, the Board therefore considered it in the best interests of the company to monitor developments discreetly. The Board will report to shareholders again as and when any relevant official information becomes available or further decisions are taken. EOS Russia is an investment company headquartered in Stockholm. The overall objective of the company is to offer attractive returns via investments in the Russian electricity industry. EOS Russia's shares have been listed on First North, a marketplace operated by the Stockholm Stock Exchange, since 25 June 2007. Remium Nordic AB is the Certified Adviser.
The Chairman of the Board of EOS Russia denied entry into Russia
| Source: EnergyO Solutions Russia AB