At the company’s Annual General Meeting on 22 March 2007, Elcoteq SE's Board of Directors will propose that the company's domicile and head office be transferred to Luxembourg. The purpose being to implement the company's globalization strategy and to create an effective structural basis to ensure the continuous improvement of its competitiveness.
However, there is no plan to move Elcoteq's operations in Finland to Luxembourg and the transfer of domicile will not affect trading in the company's series A shares, which will continue to be traded on the Helsinki Stock Exchange as before.
On 21 December 2006 the Board of Directors prepared a Transfer Proposal, a Report and proposed new Articles of Association, which will be registered and published in the manner required by Finnish law. Should the AGM carry the Board's proposal on the transfer of domicile in March, the transfer could take place on 1 January 2008.
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