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Sector
Technology
Size
Small Cap
Market Cap £199.5m
Enterprise Value £197.7m
Revenue £67.4m
Position in Universe 709th / 1832

DECISIONS OF THE ANNUAL GENERAL MEETING OF ELEKTROBIT CORPORATION (EB)

Thu 11th April, 2013 1:32pm




STOCK EXCHANGE RELEASE 


Free for publication on April 11, 2013 at 3.30 p.m. (CEST+1)


DECISIONS OF THE ANNUAL GENERAL MEETING OF ELEKTROBIT CORPORATION (EB)

The Annual General Meeting of Elektrobit Corporation (EB) was held on April 11, 2013, at 1.00 p.m.
at the address the University of Oulu, Saalastinsali, Pentti Kaiteran katu 1, 90570 Oulu, Finland.
The Annual General Meeting approved the annual accounts for the financial year 2012 and discharged
the Company's management from liability. 

USE OF THE PROFITS SHOWN ON THE BALANCE SHEET AND PAYMENT OF DIVIDEND

The Annual General Meeting decided in accordance with the proposal of the Board of Directors to
pay EUR 0.01 per share as dividend based on the balance sheet adopted for the financial period
January 1, 2012 - December 31, 2012. The dividend will be paid to the shareholders who are
registered in the shareholders' register maintained by Euroclear Finland Ltd on the dividend
record date April 16, 2013. The dividend will be paid on April 23, 2013.

ELECTION AND REMUNERATION OF THE MEMBERS OF THE BOARD OF DIRECTORS 

The Annual General Meeting decided that the Board of Directors shall comprise five (5) members.
Jorma Halonen, Juha Hulkko, Seppo Laine, Staffan Simberg and Erkki Veikkolainen were elected
members of the Board of Directors for a term of office expiring at the end of the next Annual
General Meeting.

At its assembly meeting held on April 11, 2013, the Board of Directors has elected Mr. Seppo Laine
Chairman of the Board. Further, the Board has resolved to keep the Audit and Financial Committee
with Mr. Staffan Simberg (Chairman of the committee), Mr. Seppo Laine and Mr. Erkki Veikkolainen
as committee members.

The following monthly remuneration shall be paid to the members of the Board of Directors: to the
chairman of the Board of Directors EUR 3,500 and to the other members of the Board of Directors
EUR 2,000 each. In addition, the members of the Board of Directors are entitled to compensation
for attending Board Committee meetings as follows: the chairman of the Committee EUR 600 for each
meeting and other Committee members EUR 400 for each meeting. The members of the Board of
Directors, who also act as Board members of other companies belonging to the Elektrobit Group, are
also entitled to compensation for attending Board meetings of such other group companies as
follows: EUR 1,000 for each meeting. Travel expenses of the members of the Board of Directors
shall be reimbursed in accordance with the Company's travel policy.

ELECTION AND REMUNERATION OF THE AUDITOR AND DEPUTY AUDITOR

Ernst & Young Ltd, authorized public accountants, was re-elected auditor of the Company for a term
of office ending at the end of the next Annual General Meeting. Ernst & Young Ltd has notified
that Mr. Jari Karppinen, authorized public accountant, will act as responsible auditor. It was
decided that the remuneration to the auditor shall be paid against the auditor's reasonable
invoice.

AUTHORIZING THE BOARD OF DIRECTORS TO DECIDE ON THE REPURCHASE OF THE COMPANY'S OWN SHARES 

The General Meeting authorized the Board of Directors to decide on the repurchase of the Company's
own shares as follows.

The amount of own shares to be repurchased shall not exceed 12,500,000 shares, which corresponds
to approximately 9.66 per cent of all of the shares in the company. Only the unrestricted equity
of the company can be used to repurchase own shares on the basis of the authorization.

Own shares can be repurchased at a price formed in public trading on the date of the repurchase or
otherwise at a price formed on the market.

The Board of Directors decides how own shares will be repurchased. Own shares can be repurchased
using, inter alia, derivatives. Own shares can be repurchased otherwise than in proportion to the
shareholdings of the shareholders (directed repurchase).

The authorization cancels the authorization given by the General Meeting on March 26, 2012 to
decide on the repurchase of the company's own shares.

The authorization is effective until June 30, 2014.

AUTHORIZING THE BOARD OF DIRECTORS TO DECIDE ON THE ISSUANCE OF SHARES AS WELL AS THE ISSUANCE OF
SPECIAL RIGHTS ENTITLING TO SHARES

The General meeting authorized the Board of Directors to decide on the issuance of shares and
other special rights entitling to shares referred to in chapter 10 section 1 of the Companies Act
as follows.

The amount of shares to be issued shall not exceed 25,000,000 shares, which corresponds to
approximately 19.32 per cent of all of the shares in the company. 

The Board of Directors decides on all the conditions of the issuance of shares and of special
rights entitling to shares. The authorization concerns both the issuance of new shares as well as
the transfer of treasury shares. The issuance of shares and of special rights entitling to shares
may be carried out in deviation from the shareholders' pre-emptive rights (directed issue).

The authorization cancels the authorization given by the General Meeting on March 26, 2012 to
decide on the issuance of shares as well as the issuance of other special rights entitling to
shares referred to in Chapter 10 Section 1 of the Companies Act.

The authorization is effective until June 30, 2014.

Oulu, April 11, 2013

Elektrobit Corporation
The Board of Directors

Further information:

Jukka Harju
CEO
Tel. + 358 40 344 5466

Päivi Timonen
Chief Legal Officer
Tel. + 358 40 344 2794

Distribution:

NASDAQ OMX Helsinki
Principal media

Elektrobit (EB)

EB creates advanced technology and turns it into enriching end-user experiences. EB is specialized
in demanding embedded software and hardware solutions for wireless and automotive industries. The
net sales from continuing operations in 2012 totaled MEUR 185.4. Elektrobit Corporation is listed
on NASDAQ OMX Helsinki.   



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This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Elektrobit Oyj via Thomson Reuters ONE


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