AGM 2013

Resolutions of AGM

Today, on 9 May 2013 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 89 shareholders and their authorised representatives who represented the total of 12,516,831 votes accounting for 71.94 % of the total votes.

The agenda of the general meeting was as follows:
1. Approval to AS Harju Elekter annual report of 2012;
2. Approval to profit distribution;

1. Approval to AS Harju Elekter annual report of the year 2012
The general meeting resolved:
To approve the annual report of AS Harju Elekter of 2012, prepared by the management board and approved by the supervisory board, according to which the consolidated balance sheet total of AS Harju Elekter was 59,609 thousand euros as of 31.12.2012, while the turnover of the financial year was 52,801 thousand euros and net profit 3,517 thousand euros.

The number of the votes given in favor of the resolution was 12,516,231 which accounted for 100.00 % of the voted participants.

2. Approval to profit distribution
The general meeting resolved:
To approve the profit distribution proposal of AS Harju Elekter of 2012 as presented by the management board and as approved by the supervisory board as follows:

retained profit from previous periods on 31.12.2012

11,491 thousand euros

total net profit of the financial year

 3,517 thousand euros

total retained profit on 31.12.2012

15,008 thousand euros

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

dividends (0,09 euros per share*)

 1,566 thousand euros

increase of reserves

    42 thousand euros

balance carried forward after profit distribution

13,400 thousand euros

The dividends will be paid to the shareholders on 28 May 2013 by a transfer to the bank account of the shareholder. * The shareholders registered in the shareholders’ registry on 23 May 2013 at 23.59 shall be entitled to dividend.

The number of the votes given in favor of the resolution was 12,488,975 which accounted for 99.78 % of the voted participants.

Andres Allikmäe
Managing Director/CEO
Phone +372 674 7400