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2014-04-10

Elektrobit Oyj: Decisions of the Annual General Meeting of Elektrobit Corporation (EB)

Stock exchange release

Free for publication on April 10, 2014 at 4.00 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
10, 2014, at 1.00 p.m. at the address the University of Oulu, Saalastinsali,
Pentti Kaiteran katu 1, 90590 Oulu, Finland. The Annual General Meeting
approved the annual accounts for the financial year 2013 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 0.02 per share as dividend based on the balance
sheet adopted for the financial period January 1, 2013 - December 31, 2013.
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, Tuesday, April 15, 2014. The dividend will be paid on Thursday,
April 24, 2014.

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 10, 2014, 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 1,200 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. Juhani Rönkkö, 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 9.57 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
April 11, 2013 to decide on the repurchase of the company's own shares.

The authorization is effective until June 30, 2015.

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 19.14 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
April 11, 2013 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, 2015.

Oulu, April 10, 2014

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 Corporation (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 2013 totaled EUR 199.3 million and operating profit
was EUR 8.1 million. Elektrobit Corporation is listed on NASDAQ OMX Helsinki.
www.elektrobit.com

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Elektrobit Oyj via Globenewswire

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