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Electronics Production | December 22, 2006

Elcoteq moves head office to Luxembourg

Elcoteq's domicile and head office will be transferred to Luxembourg. However, there is no plan to move Elcoteq's operations in Finland to Luxembourg in conjunction with the transfer of domicile.

The transfer of domicile will not affect trading in the company's series A shares, which will continue to be traded as before on the Helsinki Stock Exchange. The purpose underlying the transfer of domicile is to implement Elcoteq's globalization strategy and to create an effective structural basis to ensure the continuous improvement of the company's competitiveness. The Board of Directors has, as of December 21, 2006, prepared a Transfer Proposal, a Report and proposed new Articles of Association, which will be registered and published in the manner required by Finnish law. The decision concerning the transfer of domicile will be made by the Annual General Meeting, which will convene on March 22, 2007. Should the AGM carry the Board's proposal on the transfer of domicile, the transfer could take place on January 1, 2008.
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