Elcoteq - Company Announcement

Decisions Of Elcoteq SE's Extraordinary General Meeting

Elcoteq
SE
Stock Exchange Release
February 23, 2010 at 3.50 pm (EET)



The Extraordinary General Meeting (EGM) of the shareholders of Elcoteq SE held
today, on February 23, 2010, in Luxemburg, was convened to decide on actions
supporting the execution of balance sheet restructuring and equity project. On
the agenda were, among other items, Board of Directors proposals to reduce the
par value of shares and to increase the authorised share capital.

The Board of Directors made its proposal to the EGM prior to the recent positive
development in the Company´s equity. In light of the strenghtening of balance
sheet, the EGM deemed that the size of the proposed authorisation to increase
the share capital up to EUR 200,000,000 was too high and the decrease of the par
value of shares is not needed.

As a result of the above mentioned, EGM decisions were as follows:

The proposals to decrease the share capital of the Company from its current
amount of EUR 8,944,874 and to decrease the current par value of A-shares (EUR
0.40) and of K-shares (EUR 0.04) were rejected.

To increase the authorised share capital of the Company from its current amount
of twenty million euros (EUR 20,000,000) up to forty million euros (EUR
40,000,000) and accordingly amendment of article 21 of the articles of
association of the Company;

To authorise the Board of Directors to issue new shares and convertible debts
instruments within the authorised share capital of the Company without reserving
the existing shareholders a preferential subscription right, up to an amount of
twelve million euros (EUR 12,000,000) of the authorized share capital which
corresponds to in maximum 30,000,000 new A-shares;

To authorise the Board of Directors to issue new shares and convertible debts
instruments within the remainder of the authorized share capital of nineteen
million fifty-five thousand one hundred twenty-six Euros (EUR 19,055,126) with
respecting the existing shareholders preferential subscription right which
corresponds to in maximum approximately 47,000,000 new A-shares, and to amend
the proposed new article 22 accordingly;

To delete from the Company's articles of association the right of a shareholder
to request a redemption of shares in case of a change or changes in the
ownership of the Company resulting in a shareholder holding more than
thirty-three and one third (33 1/3) percent or, as the case may be, fifty (50)
percent of the shares in the Company resulting in corresponding deletion of
articles
98, 99, 100, 101, 102, 103, 104, 105, 106, 107, 108, 109, 110, 111, 112, 113 and
114 of the Company's articles of association;

To change the date of the Annual General Meeting of the shareholders from 23
March to 28 April each year and accordingly amendment of article 54 of the
articles of association of the Company; and

The Company's articles of association were restated in order to reflect these
changes voted upon at the EGM of the shareholders of the Company.


ELCOTEQ SE

Satu Jaatinen
Communications Manager

Further information:
Markus Kivimäki, SVP, Legal Affairs, tel. +358 10 413 1248

About Elcoteq


Elcoteq SE is the global Life Cycle Service Partner for high-tech product and
service companies.

Engineering, Manufacturing, Fulfillment and After Market Services are the
cornerstones of Elcoteq's extensive service offering. Elcoteq has a proven track
record in electronics manufacturing services (EMS) and a global factory network
coupled with modern manufacturing equipment and consistent systems and
processes.

Products include Consumer Electronics devices such as mobile phones and their
accessories, set-top boxes, flat panel TVs as well as System Solutions products
such as infrastructure systems, modules and other industrial segment products.

The Group's consolidated net sales for 2008 totaled 3.4 billion euros and it
employs approximately 11,000 persons. 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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