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Proposal by Elcoteq SE's Nomination Committee to the Annual General Meeting on the Election and Remuneration of Board members


April 13, 2011 - London

Elcoteq SE
Stock Exchange Release
April 13, 2011, at 10.00 am (EET)

The Nomination Committee of Elcoteq SE's Board of Directors will propose to the Annual General Meeting on April 28, 2011, that Elcoteq Board of Directors would consist of five (5) persons and that the composition would be as follows:

Current Board members Mr. Pauli Aalto-Setälä, Mr. Hannu Krogerus, Mr. Paul Paukku, Mr. Francois Pauly and Mr. Jorma Vanhanen would be re-elected. All the aforesaid individuals have given their consent for re-election.

Mr. Pauli Aalto-Setälä, Mr. Hannu Krogerus, Mr. Paul Paukku and Mr. Francois Pauly are independent from the Company and its significant shareholders and they represent more than half of the Board's members. Board members are elected for a one-year period until the end of the following Annual General Meeting.

The Nomination Committee of Elcoteq SE's Board of Directors will propose to the Annual General Meeting on April 28, 2011, that the remuneration of the Board of Directors would be set as follows:

Board members will be paid an annual fee of 40.000 euros of which 60% will be paid in cash and 40% will be paid in the Company's shares. Board members will also be paid a fee of 1.000 euros per meeting. In addition to this, following remuneration will be paid to Chairman and Deputy Chairman: for the Chairman of the Board 30.000 euros per month and for the Deputy Chairman of the Board 6.500 euros per month.

 

ELCOTEQ SE

Nomination Committee of the Board of Directors

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




This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Elcoteq SE via Thomson Reuters ONE

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