Increase of Share Capital in Connection with Realization of the Option Programme and Subscription Results

The Supervisory Board of AS Harju Elekter Group decided to increase the share capital of the company by 34,020 euros by issuing new ordinary shares. The increase in the share capital is due to the need to issue new shares to the management board members and key personnel of Harju Elekter and its subsidiaries participating in the option program approved with the resolution of the general meeting on 29 April 2021.

A total of 5 members of the Management Board of Harju Elekter Group participated in the share issue related to the implementation of the option program, who subscribed for a total of 54,000 shares for a total of 243,00 euros.  

Decisions of the Supervisory Board of AS Harju Elekter Group:

1. Harju Elekter's share capital will be increased by a maximum of 34,020 euros, i.e., from 11,671,235.10 euros to 11,705,255.10 euros.
2. The share capital will be increased by way of issuing 54,000 new ordinary shares (ISIN: EE3100004250) with a book value of 0.63 euros per share. The shares will be issued with a share premium. The issue price is 4.50 euros per share, with a book value of the share amounting to 0.63 euros and the share premium to 3.87 euros.
3. The increase in the share capital and payment for the new shares will be carried out fully by way of monetary contribution. The payment deadline for the newly subscribed shares is January 9, 2026. After the increase of the share capital, Harju Elekter has a total of 18,579,770 ordinary shares without nominal value.
4. Pursuant to the resolution of the general meeting of 29 April 2021, which approved Harju Elekter's share option program and its basic conditions, the pre-emptive right to subscribe for new shares belongs to the management board members and key personnel of Harju Elekter and its subsidiaries, as determined by the supervisory board of Harju Elekter, with whom the respective option agreements have been concluded.
5. Harju Elekter's shareholders, who are not covered by the share option program, shall not have any pre-emptive right to subscribe for new shares issued during the increase of the share capital.
6. The due date for exercising the pre-emptive right of subscription and the due date for subscribing to shares was 5 January 2026. The option beneficiaries submitted their subscription notes in a timely manner and was fully subscribed.
7. The increase of Harju Elekter’s share capital will not create any exceptions or special rights in connection with the ordinary shares. The new shares to be issued during the increase of share capital shall grant the right to dividend for the financial year starting on 1 January 2025.
   
   
   
   

All new shares of Harju Elekter issued during the share issue will be listed on Nasdaq Tallinn on the day following the date on which the additionally issued shares with temporary ISINs have been included in the Estonian Central Securities Depository (Nasdaq CSD) together with the previously issued shares with main ISINs.

Tiit Atso

Chairman of the Management Board

+372 674 7400