Harju Elekter : Regarding changes in the management of Harju Elekter

The Supervisory Board of AS Harju Elekter hereby announces that Chairman of the Management Board Andres Allikmäe will be taking on the position of Head of Business Development at AS Harju Elekter, following the expiration of his Management Board Member Contract on 3 May 2020.

Andres Allikmäe joined the company in 1982 and was named Chairman of the Management Board in 1999. In recent years the Group has expanded aggressively in Finland, Sweden and Lithuania, and the integration of companies and better use of the opportunities offered by synergistic cooperation within the Group requires the creation of the position of Head of Business Development at the Harju Elekter Group, where long-term managerial experience will be of great benefit.

The Management Board of AS Harju Elekter has three members and any subsequent changes in the composition of the Management Board will be announced when they occur.

After launching its activities in 1968, Harju Elekter Group has developed into a leading producer of MV/LV electrical and engineering devices in the Baltic countries and a well-known and respected manufacturer in Scandinavia. Harju Elekter's main field of business is the development, manufacturing and sale of equipment necessary for the distribution and transmission of electric energy. The core business is supported by a sheet metal plant in Estonia and the development and leasing of industrial real estate. Harju Elekter Group's plants in Estonia, Finland, Sweden and Lithuania employ 799 specialists, and 9 months 2019 sales revenue of the Group was 112.2 million euros. Shares of Harju Elekter are listed on Nasdaq Tallinn.

Endel Palla
Chairman of the Supervisory Board
[phone]

Prepared by:
Moonika Vetevool
Corporate communication and IR manager
[phone]