Merger of Swedish subsidiaries

On 29 October 2020, the merger of SEBAB AB and Grytek AB, Swedish subsidiaries wholly owned by Harju Elekter Group, was entered into the Swedish Companies Registration Office’s register. As a result of the merger of companies, SEBAB AB becomes the successor of Grytek AB.

The merger of the Swedish subsidiaries is related to the Group’s plan to transfer all subsidiaries under the name and brand of Harju Elekter, to simplify the coordination of sales and marketing.

Mikael Schwartz Jonsson will continue as the CEO of SEBAB AB. In the Management Board, Tiit Atso will continue as the Chairman, and Andres Allikmäe, Andres Toome and Thomas Andersson will continue as Members.

The merger of subsidiaries does not have an effect on the economic results of Harju Elekter Group.