Result of EGM

RNS Number:3400R
Jumpit ASA
01 April 2008

Jumpit ASA

("Jumpit" or the "Company")

Result of Extraordinary General Meeting

The board of Jumpit announces the results of the Extraordinary General Meeting
("EGM") held today at 10 a.m.  Central European Time at the Company's offices,
Martin Linges vei 15-25, 1367 Snaroya, Norway.

Under the Norwegian Public Limited Liability Companies Act (the "Act"),
amendments to resolutions described in the Notice of EGM may be ratified at the
EGM provided they are approved by a majority of both two thirds of the votes
cast and of the shares represented in the general meeting. In accordance with
the provisions of the Act, an amendment to item 4 on the notice of EGM was put
forward and approved.

An unofficial English translation of the resolutions, as approved, are set out
below.


1. Opening of the general meeting by the Chairman and registration of
shareholders represented in the meeting

The meeting was opened by the Chairman of the board.

2. Election of persons to chair the meeting and to co-sign the minutes

3. Approval of the notice and the agenda

4. Board authorization to issue shares

The board of directors proposed in the notice that the general meeting shall
grant an authorization to the board of directors to issue shares as follows:

"The board is authorized to increase the share capital of the company through
the issue of shares up to an aggregate nominal value of NOK 1,257,457,
representing 50 per cent of the nominal value of the ordinary share capital of
the company, through one or more share issues. The authorization is valid for
two years from the conclusion of the general meeting. The pre-emptive rights of
the existing shareholders may be derogated from. The authorization includes
share issues with contribution of other assets than cash and a right to assume
special obligations on behalf of the company. The authorization also includes
the right to resolve mergers pursuant to section 13-5 of the Public Limited
Liability Companies Act. The authorization replaces all existing 
authorizations."

Upon request from key shareholders in Jumpit ASA the board of directors proposed
the following amended resolution in the meeting:

"The board is authorized to increase the share capital of the company through
the issue of shares up to an aggregate nominal value of NOK 1,257,457,
representing 50 % of the nominal value of the ordinary share capital of the
company, through one or more share issues. The authorization is valid for 12
months from the date of the general meeting. The authorization only includes
share issues for a cash consideration. The authorization may inter alia be used
to implement a share option scheme for key personnel, however the aggregate
number of shares in the share option scheme shall not exceed 10% of the total
number of outstanding shares in the company. The pre-emptive rights of the
existing shareholders may be derogated from in connection with share issuance
required as a result of the exercise of stock options granted under the
aforesaid stock option scheme, but otherwise the authorization does not include
the right to derogate from the pre-emptive rights of existing shareholders. The
authorization replaces all existing authorizations."

The board of directors' proposal as amended in the meeting was approved.

5. Election of Directors

The board of directors have proposed in the notice that the board members Sissel
Edvardsen and Karin Juel Teige are replaced by Cecilie M. Vanem and Ellynor
Brorvik. The new board will consist of the following persons:

- Oystein Hedenskou Kvarme (Chairman)
- Thomas Axel Kielland
- Cecilie M. Vanem
- Ellynor Brorvik

The board of directors' proposal was approved.

6. Remuneration to the new Directors

The board of directors have proposed in the notice that the two newly elected
directors, Cecilie M. Vanem og Ellynor Brorvik, shall receive a remuneration of
NOK 25,000 each for their work as board members in 2008.


The board of directors' proposal was approved.

7. Change of company name to MultiPower ASA

The board of directors have proposed in the notice that the company changes its
name to MultiPower ASA. Thus, Section 1 of the Articles of Association shall be
amended to read as follows:

"The name of the company is MultiPower ASA. The company is a public limited
liability company."

The board of directors' proposal was approved.


***


All resolutions were approved unanimously.


Jumpit                          Morten Hansson                 + 47 67 82 70 40
                                Chief Executive Officer


Hanson Westhouse Limited        Bill Staple / Martin Davison   + 44 20 7601 6100






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