Annual General Meeting 2020

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 the year 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 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:

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

*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
+372 674 7400

Prepared by:
Ursula Joon
Lawyer
+372 674 7413