Harju Elekter

M&A Activity • Mar 14, 2023

Company AS Harju Elekter Group

Type Company Release

Category Other corporate action

Disclosure time 14 Mar 2023 08:00:00 +0200

Currency

Merger of AS Harju Elekter subsidiaries Title

AS Harju Elekter published a stock exchange notice on 26 (https://view.news.eu.nasdaq.com/view?id=b499041877dcf76df62753138e47b15ae&lang= en) September

(https://view.news.eu.nasdaq.com/view?id=b499041877dcf76df62753138e47b15ae&lang= en) 2022

(https://view.news.eu.nasdaq.com/view?id=b499041877dcf76df62753138e47b15ae&lang= en) announcing the intragroup restructuring of two AS Harju Elekter Estonian factories- subsidiaries AS Harju Elekter Teletehnika and AS Harju Elekter Elektrotehnika. In accordance with the information published in the stock exchange notice on 26 September 2022, the merger decisions of AS Harju Elekter Elektrotehnika (the acquiring company) and AS Harju Elekter Teletehnika (the company being acquired) were adopted on 1 December 2022 and an entry of the merger in the commercial register was made on 13 March 2023.

Pursuant to the merger agreement concluded on 30 September 2023, the legal successor of AS Harju Elekter Teletehnika is AS Harju Elekter Elektrotehnika and, with the entry of the merger in the commercial register, all the assets of AS Harju Elekter Teletehnika were wholly transferred to AS Harju Elekter Elektrotehnika. Due to the merger, AS Harju Elekter Teletehnika was deleted from the commercial register 13 March 2023.

Harju Elekter is an international industrial group with extensive experience in providing future proof solutions for electrical power distribution. We engineer, manufacture, and install electrification solutions for utilities, industries, infrastructure, public and commercial buildings. The entities of Harju Elekter Group in Estonia, Finland, Sweden, and Lithuania employ around 900 people, and the Group's revenue in 2022 was 175,3 million euros.

Tiit Atso Chairman of the Management Board +372 674 7400

Prepared by:

Finantsinspektsioon http://www.fi.ee

Marit Tack Corporate Communications Manager +372 5340 8444 E-mail: marit.tack@harjuelekter.com

Finantsinspektsioon http://www.fi.ee