Stock Exchange & Press Releases 2006

Dr. J.T. Bergqvist, 48, has been nominated as a candidate for Board Membership and forthcoming semi-executive Chairman of the Board of Elektrobit Group Plc. In his previous profession, Dr. Bergqvist has been a Nokia Group Executive Board member 2002-2005 and has made a significant career at Nokia Networks 1988-2005, occupying various high management positions ranging from sales and marketing to heading all of the global business units of Nokia Networks.

 

Elektrobit Group Plc's CEO, Mr. Juha Hulkko and COO, Mr. Jukka Harju have as well been  nominated as candidates for Board Membership of Elektrobit Group Plc. Mr. Eero Halonen has called for not being available as Board Member. A group of shareholders representing, in total, more than 50 per cent of Elektrobit Group Plc.'s shares and votes will propose to the General Meeting of Shareholders to be held 15 March 2006, that the number of seats in the Board  be amended to six. The same group proposes the following Board Members, in accordance with their consents, to be elected in the same meeting: J.T. Bergqvist, Juha Hulkko, Jukka Harju, Juha Sipilä, Tapio Tammi and Matti Lainema. Should the Board be elected in accordance with the aforementioned proposal the new Board of Directors is, due to a recommendation of the same shareholders, likely to elect Dr. J.T. Bergqvist as the chairman. The membership of Mr. Jukka Harju will be in force as of the time when the amendment of the section of the Articles of Association concerning the number of board members has been registered.

 

The Board of Directors of Elektrobit Group Plc. has formulated a new strategy. The strategy aims to focus the business operations of the company and to concentrate on clear growth businesses, without increasing the dependence of the mobile terminal market. Elektrobit Group renewed strategy will be communicated in more detail later during the spring 2006.