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Published: 2023-04-28 11:27:57 CEST
Harju Elekter Group
Minutes of annual general meeting

Decisions of the Annual General Meeting of AS Harju Elekter

The Annual General Meeting of Shareholders of AS Harju Elekter was held on 28 April 2023 starting at 10 a.m., at the Keila Kultuurikeskus, Keskväljak 12. The AGM was attended by 58 shareholders and their authorised representatives who represented a total of 11 403 963 votes accounting for 62,57 % of the total votes.

The decisions of the General Meeting were as follows:

1. Approval to AS Harju Elekter Annual Report of 2022

To approve the 2022 Annual Report prepared by the Management Board and approved by the Supervisory Board, according to which the total consolidated balance sheet as of 31 December 2022 is 171,4 million euros, revenue is 175,3 million euros, operating loss is 4,5 million euros and net loss is 5,6 million euros.

The number of votes given in favor of the resolution was 11,412,307 which accounted for 99.72% of the voted participants.

2. Approval to profit distribution

To approve the profit distribution proposal of AS Harju Elekter of 2022 as presented by the management board and as approved by the supervisory board as follows:

retained earnings EUR 53,314,971
Net loss for 2022 EUR -5,544,403
total distributable profit as of 31.12.2022 EUR 47,770,568

dividends (0,05 euros per share*) EUR 914,475
Retained earnings after profit distribution EUR 46,856,093

*The shareholders registered in the shareholders’ registry on 17 May 2023 as of the end of the business day in the accounting system, shall be entitled to dividend. The dividend payment ex-date is 16 May 2023. From that date the new owner of the shares is not entitled to dividends for the year 2022. The dividends will be paid to the shareholders on 24 May 2023 by a transfer to the bank account of the shareholder.

The number of votes given in favor of the resolution was 11,392,938 which accounted for 99,55% of the voted participants.

3. Change of business name and amendment of the Articles of Association
To approve the new business name of AS Harju Elekter as AS Harju Elekter Group and to approve the new wording of the articles of association as presented to the General Meeting.

The number of votes given in favor of the resolution was 11,408,046 which accounted for 99.69 % of the voted participants.

The webinar recording of the annual general meeting is found at https://youtu.be/uc0EViP2M3M

Ursula Joon
+372 674 7413