Elektrobit Oyj - Decisions of extraordinary general meeting

The Extraordinary General Meeting of Elektrobit Corporation approved the sale of the Automotive Business to Continental AG and resolved to change the name of the company to Bittium Corporation

Stock exchange release

Free for publication on June 11, 2015 at 2.15 pm. (CEST+1)

The Extraordinary General Meeting of Elektrobit Corporation approved the sale of
the Automotive Business to Continental AG and resolved to change the name of the
company to Bittium Corporation


The  Extraordinary General Meeting of Elektrobit Corporation ("EB"), held on 11
June  2015, decided to approve the sale  of the company's Automotive Business to
Continental  AG in accordance with the  proposal and recommendation of the Board
of  EB. The Transaction comprises the sale of Elektrobit Automotive GmbH and its
subsidiaries,  including  EB's  51 per  cent  ownership  in  e.solutions GmbH, a
jointly  owned company between  Elektrobit Automotive GmbH  and Audi Electronics
Venture  GmbH. In addition, the  rights to the name  Elektrobit will transfer to
Continental.  The purchase price for the  acquisition is EUR 600 million payable
in cash and it shall be paid in full upon the closing of the Transaction.

The  Extraordinary General  Meeting also  resolved to  change section  1 of EB's
Articles  of Association and the name of  the company. The implementation of the
change  of the name and the Articles of Association is subject to the completion
of  the sale of the Automotive Business. Upon the completion of the transaction,
the new name of the company will be Bittium Oyj, in English Bittium Corporation.

Besides the approval of the Extraordinary General Meeting, the completion of the
transaction is still subject to the receipt of the required regulatory approvals
and  certain  other  customary  closing  conditions.  The sale of the Automotive
Business is expected to close at the beginning of July 2015. Further information
on  the  transaction  is  available  in  EB's  stock  exchange release dated May
19 2015.


Oulu, June 11, 2015

Elektrobit Corporation
The Board of Directors

Further information:

Jukka Harju
CEO
Tel. +358 40 344 5466

Kari Jokela
Chief Legal Officer
Tel. +358 40 344 5258

Distribution:
NASDAQ OMX Helsinki
Principal media

Elektrobit Corporation (EB)
EB creates advanced technology and turns it into enriching end-user experiences.
EB  is specialized  in demanding  embedded software  and hardware  solutions for
wireless  and automotive  industries. The  net sales  in 2014 totaled EUR 224.1
million  and operating  profit was  EUR 16.8 million.  Elektrobit Corporation is
listed on NASDAQ OMX Helsinki. www.elektrobit.com.


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