Elcoteq SE Stock Exchange Release September 3, 2009, at 3.30 pm (EET) Elcoteq's debenture holders held a meeting today in Helsinki. The meeting was convened to amend the terms and conditions of subordinated notes I/2004, I/2005, II/2005 and I/2006 by adding the following provision: "The creditor has the right to use the Note, in accordance with the terms and conditions of the issue, for the payment or setting off of subscription price or equivalent payment, in an issue of shares, other special rights, bonds or subordinated notes (including instrument classified as equity) arranged by the Issuer or if the Issuer sells securities or other special rights issued by the company that it holds, or makes an offer for the exchange of such. Subject to the consent of the noteholder, the Issuer also has the right to pay back the Loan prematurely, either in part or in full." Concerning the note II/2005, a provision providing that the Issuer does not have the right to pay back the loan prematurely, was to be deleted. The amendments were approved by the debenture holders except for the I/2005 note, where the decision could not be taken due to the absence of the single noteholder. These amendments were made in order to be able to carry out restructuring actions which are needed to strengthen the company's equity. A possible concrete proposal about the restructuring of the loans will be presented to the debenture holders separately. ELCOTEQ SE Minna Aila Director, Communications and Corporate Responsibility Further information: Mikko Puolakka, CFO, tel. +358 10 413 1287 Markus Kivimäki, SVP, Legal Affairs, tel. +358 10 413 1248 About Elcoteq Elcoteq SE is a leading electronics manufacturing services (EMS) company in the communications technology field. Elcoteq's global service offering covers the entire lifecycle of products, from product development to after-market services. By further combining mechanics expertise into its service offering, Elcoteq's vision is to be a leading integrated electronics manufacturing services (IEMS) company. Elcoteq provides global end-to-end solutions consisting of product development services, supply chain management, NPI, manufacturing, and after market services for the whole lifecycle of its customers' products. These products include Consumer Electronics products such as mobile and wireless phones, their parts and accessories, set-top boxes, flat panel TVs and other consumer products as well as System Solutions products such as wireless and wireline infrastructure systems and modules, enterprise network products and other industrial segment products. The Group's consolidated net sales for 2008 totaled 3.4 billion euros and it employs approximately 13,000 persons. Elcoteq SE is listed on the Nasdaq OMX Helsinki Ltd. For more information visit the Elcoteq website at www.elcoteq.com.
Elcoteq's Debenture Holders Agree to Amend the Terms of the Notes
| Source: Elcoteq