OREANDA-NEWS. May 05, 2008. The annual general meeting of the shareholders of AS Harju Elekter was held at Keskvaljak 12, Keila, reported the press-centre of Harju Elekter.

The AGM was attended by 121 shareholders and their authorised representatives who represented the total of 12,069,268 votes accounting for 71,84 % of the total votes.

The agenda of the general meeting was as follows:

1. Approval to AS Harju Elekter annual report of 2007;

2. Approval to profit distribution.


1. Approval to AS Harju Elekter annual report of the year 2007.

The general meeting resolved:
To approve the annual report of AS Harju Elekter of 2007, prepared by the management board and approved by the supervisory board, according to which the consolidated balance sheet total of AS Harju Elekter was 720,312 thousand kroons as of 31.12.2007, while the turnover of the financial year was 731,985 thousand kroons and net profit 84,456 thousand kroons.

The number of the votes given in favour of the resolution was 12,045,662 which accounted for 99.80 % of the registered participants.

2. Approval to profit distribution

The general meeting resolved:
To approve the profit distribution proposal of AS Harju Elekter of 2007 as presented by the management board and as approved by the supervisory board as follows:

Retained profit from previous periods on 31.12.2007       67,438 thousand kroons

Net profit of the financial year                                       84,456 thousand kroons

Total retained profit on 31.12.2007                              151,894 thousand kroons

Management board\'s proposal for the distribution of profit as follows:

Dividends, 2,00 kroons per share*                                33,600 thousand kroons

Legal reserve                                                               3,400 thousand kroons

Balance carried toward after profit distribution             114,894 thousand kroons

The dividends will be paid to the shareholders on 19 May 2008 by a transfer to the bank account of the shareholder.

* The shareholders registered in the shareholders\' registry on 9 May 2008 at 23.59 shall be entitled to dividend.

The number of the votes given in favour of the resolution was 12,053,798 which accounted for 99,87 % of the registered participants.