Decisions of Elcoteq SE's Annual General Meeting and Constitutive Board Meeting

Thursday, 28. April 2011 16:03
Elcoteq SE
Stock Exchange Release
April 28, 2011 at 17.00 pm (EET)

Decisions of Elcoteq SE's Annual General Meeting

Elcoteq SE's Annual General Meeting took place today, on April 28, 2011, in
Luxembourg. The Meeting respectively confirmed and approved the consolidated and
parent company's income statements and balance sheets for the financial year
2010 and discharged the members of the Board of Directors and the statutory
auditor from liability for the financial year.

Composition of the Board of Directors and Fees

The Meeting decided to set the number of members of the Board to five (5) and
re-elected the following persons to the Board of Directors: Mr. Pauli Aalto-
Setälä, Mr. Hannu Krogerus, Mr. Paul Paukku, Mr. François Pauly and Mr. Jorma
Vanhanen.

Mr. Aalto-Setälä, Mr. Krogerus, Mr. Paukku and Mr. Pauly are independent Board
members from the Company and its significant shareholders, and they represent
more than half of the Board's members.

The Meeting approved the Nomination Committee's proposal to pay to each member
of the Board of Directors an annual fee of 40,000 euros plus 1,000 euros per
meeting, 60% of the annual fee will be paid in money and 40% in Elcoteq shares
and those needed shares have to be acquired during May 9 - May 20, 2011. The
shares are not allowed to be transfered before the next Annual General Meeting,
unless the person's membership in the Board of Directors ends prior to that.

The Meeting also decided that the Chairman of the Board of Directors will be
paid an additional fee of 30,000 euros per month and the Deputy Chairman of the
Board of Directors will be paid an additional fee of 6,500 euros per month.

Auditor

The Meeting approved the proposal of the Audit Committee of the Board of
Directors to appoint the firm of authorized public accountants KPMG Audit
S.à.r.l under the supervision of Mr. Philippe Meyer as the Company's auditors
for the financial year ending on December 31, 2011. The fee of auditors will be
paid as per the appropriate invoice.

Dividend

The Meeting approved the Board's proposal that no dividend will be distributed
for the financial year January 1 - December 31, 2010.

The minutes of the Annual General Meeting will be on display for inspection by
shareholders at Elcoteq SE's offices in Luxembourg and in Espoo, Finland and on
company's website during week 18.

Decisions of Elcoteq SE's Constitutive Board Meeting


Elcoteq SE's Board of Directors held its contitutive meeting on Thursday, April
28, 2011. The Board of Directors elected Mr. Jorma Vanhanen as its Chairman and
Mr. Hannu Krogerus as the Deputy Chairman.

The Board of Directors appointed the following committees and members to the
committees in accordance with article 40 of articles of association of the
Company:

Audit Committee. Mr Pauli Aalto-Setälä, Mr. Hannu Krogerus, Mr. Paul Paukku and
Mr. François Pauly were elected as members of this committee. Mr. Hannu Krogerus
was elected as the Chairman.

Compensation Committee. Mr. Pauli Aalto-Setälä, Mr. Hannu Krogerus, Mr. Paul
Paukku and Mr. François Pauly were elected as members of this committee. Mr.
Hannu Krogerus was elected as the Chairman.

Nomination Committee. Mr. Antti Piippo, Mr. Henry Sjöman, Mr. Juha Toivola and
Mr. Jorma Vanhanen were elected as members of this committee. Mr. Jorma Vanhanen
was elected as the Chairman.

The Board of Directors appointed the Nomination Committee taking in
consideration the recommendation made in the Annual General Meeting by the
Company's significant shareholders. The Nomination Committee consists of the
significant shareholders and an independent advisor. The members from outside
the Board are Mr. Antti Piippo, Mr. Henry Sjöman and Mr. Juha Toivola. In
addition the Chairman of the Board, Mr. Jorma Vanhanen was elected from among
the Board members.


ELCOTEQ SE

Petra Ebner
Director, Marketing and Communications
Further information:

Markus Skrabb
Senior Vice President, Group Legal Affairs, tel. +358 10413 1248

About Elcoteq

Elcoteq SE is the global Life Cycle Service Partner for high-tech product and
service companies. Elcoteq has a proven track record in electronics
manufacturing and after market services and a global service network close to
its customers coupled with modern manufacturing and testing equipment and
consistent systems and processes.

Elcoteq's Electronics Manufacturing Services (EMS) Business Segment provides its
customers globally with engineering, manufacturing and fulfillment services. EMS
products include mobile phones and their accessories, set-top boxes, LED
lighting products, flat panel TVs, infrastructure systems and other industrial
segment products.

Elcoteq's After Market Services (AMS) Business Segment is providing its
customers in the communications and consumer electronics industries with global
reverse logistics, depot repair, refurbishment, recycling and salvage services
but also AMS specific engineering and customer support services.

Elcoteq SE is listed on the NASDAQ OMX Helsinki Ltd.  For more information visit
the Elcoteq website at www.elcoteq.com






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Source: Elcoteq SE via Thomson Reuters ONE

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