Resolutions by Eltel’s Extraordinary General Meeting 2016

On Monday 20 June 2016 Eltel AB held an Extraordinary General Meeting (EGM) at
Eltel’s headquarters in Stockholm.


The following resolutions were made at the EGM:



Long-term incentive programme for 2016 (LTIP 2016)



The EGM approved the implementation of a share savings programme (LTIP 2016) for
key individuals at Eltel Group. The aim is to create an individual long-term
ownership of Eltel shares among the participants.

The proposal was divided into four items:

A. Terms of the Share Savings Programme 2016 (LTIP 2016).
B. Hedge for LTIP 2016 in the form of new class C shares.
C. If item B is not approved, the Board proposes that hedge of LTIP 2016 shall
take place via equity swap agreement with a third party.
D. Other matters related to LTIP 2016.

The EGM approved the terms of the LTIP 2016. The EGM did not approve the
proposal for hedge of LTIP 2016 in the form of class C shares and thus did not
authorise the Board to issue and subsequently repurchase class C shares. As an
alternative, the EGM approved the proposal to hedge obligations related to the
LTIP 2016 via equity swap agreement with a third party.

The programme comprises the CEO and the Group Management Team involving 11
individuals, and additionally a maximum of 74 key employees at Eltel.
Participants will, after a qualifying period and assuming an investment in Eltel
ordinary shares, receive allotments of additional Eltel ordinary shares without
consideration. The number of allotted shares will depend on the number of Eltel
ordinary shares they have purchased and on the fulfilment of certain performance
targets. The term of the LTIP 2016 is three years.

For further information:



Ingela Ulfves VP
IR and Group Communications
Tel: +358 40 311 3009,
ingela.ulfves@eltelnetworks.com


About Eltel AB
Eltel is a leading European provider of technical services for critical
infrastructure networks – Infranets – in the segments of Power, Communication
and Transport & Defence, with operations throughout the Nordic and Baltic
regions, Poland, Germany, the United Kingdom and Africa. Eltel provides a broad
and integrated range of services, spanning from maintenance and upgrade services
to project deliveries. Eltel has a diverse contract portfolio and a loyal and
growing customer base of large network owners. The number of employees is
approximately 8,600 and in 2014, Eltel sales amounted to EUR 1.24 billion.
Eltel’s share is listed on Nasdaq Stockholm since February 2015.