Harju Elekter : AGM decisions

Today, on 30 June 2020 starting at 10 a.m., the annual general meeting of the shareholders of AS Harju Elekter was held at Keskväljak 12, Keila. The AGM was attended by 52 shareholders and their authorised representatives who represented the total of 11,478,288 votes accounting for 64.70 % of the total votes.

The agenda of the general meeting was as follows:
1. Approval to AS Harju Elekter annual report of 2019;
2. Approval to profit distribution

1. Approval to AS Harju Elekter annual report of the year 2019

The general meeting resolved:
To approve the annual report of AS Harju Elekter of 2019, prepared by the management board and approved by the supervisory board, according to which the consolidated balance sheet total of AS Harju Elekter was 107,899 thousand euros as of 31.12.2019, while the sales revenue of the financial year was 143,397 thousand euros and net profit 2,367 thousand euros.

The number of the votes given in favor of the resolution was 11,450,687 which accounted for 99.76% of the voted participants.

2. Approval to profit distribution

The general meeting resolved:
To approve the profit distribution proposal of AS Harju Elekter of 2019 as presented by the management board and as approved by the supervisory board as follows:

retained profit from previous periods on 31.12.2019	49,238,503 euros
total net profit 2019, attributable to owners of the parent company	2,460,606 euros
total retained profit on 31.12.2019	51,699,109 euros

Management Board's proposal for the distribution of profit as follows:

dividends (0,14 euros per share*)	2,483,583 euros
balance carried forward after profit distribution	49,215,526 euros

*The shareholders registered in the shareholders' registry on 14 July 2020 as of the end of the business day in the accounting system, shall be entitled to dividend. The dividend payment ex-date is 13 July 2020. From that date the new owner of the shares is not entitled to dividends for the year 2019. The dividends will be paid to the shareholders on 21 July 2020 by a transfer to the bank account of the shareholder.

The number of the votes given in favor of the resolution was 11,461,073 which accounted for 99.85 % of the voted participants.

Tiit Atso
Chairman of the Management Board
[phone]

Prepared by:

Ursula Joon
Lawyer
[phone]