Market announcement

AS Harju Elekter Group

LEI code

5299009GM96I0NYKWS93

Size of the entity

Large group

Economic activities

Real Estate Activities

Industry sector(s)

Credit rating agency

Country of registered office

Estonia

General information

Categories

Other corporate action

Unique data record identifier

9830

Submission date and time

22.09.2022 09:53:55

Content of announcement in Estonian

Title

Enefit Connect OÜ nõue Harju Elektri tütarettevõtjale

Message

AS                Harju                Elekter               teavitas 20.05.2022
(https://view.news.eu.nasdaq.com/view?id=be96cd5b149ef76b9dd1356c40b489341&lang=
et)  avaldatud börsiteates tütarettevõtja Energo Veritas OÜ poolt Enefit Connect
OÜ-ga  sõlmitud hermeetiliste jaotustrafode raamlepingute ülesütlemisest ning et
Enefit Connect OÜ ei pea raamlepingute ülesütlemist õiguspäraseks.

Enefit Connect OÜ esitas 20.09.2022 Energo Veritas OÜ-le raamlepingute rikkumise
eest  leppetrahvi  nõude  kogusummas  1 374 645,38 eurot.  Summa sisaldab trahve
tellimuste  hilinemise,  täitmata  jätmise  ning avariireservi mittenõuetekohase
tagamise eest. Lisaks teavitas Enefit Connect OÜ kavatsusest esitada nõue summas
2 094 249 eurot,  mis  on  tekkinud  raamlepingutes  kokku  lepitud  hindade  ja
dünaamilise  hankesüsteemi hangete  tulemusena Enefit  Connect OÜ poolt sõlmitud
lepingute  hindade vahel. Tegemist on  tulevikus tekkiva kahjuga, kuivõrd Enefit
Connect   OÜ  pole  20.09.2022 seisuga  raamlepingus  märgitud  hinda  ületavaid
väljamakseid veel teinud.

Energo  Veritas OÜ on seisukohal, et  raamlepingud on üles öeldud ja raamlepingu
alusel  sõlmitud hankelepingutest  taganetud õiguspäraselt  ning ei tunnista ega
mööna esitatud nõude põhjendatust ega rikkumise esinemist.

Ülaltoodud   rahalised   nõuded   võivad   omada   negatiivset   mõju  konsterni
finantsseisundile.

Harju  Elekter on enam kui 50-aastase kogemusega rahvusvaheline tööstuskontsern,
mille  põhitegevusalaks  on  elektri-  ja  automaatikaseadmete väljatöötamine ja
tootmine. Osa Harju Elektri tehnilistest lahendustest on suunatud taastuvenergia
sektorisse,  pakkudes päikeseenergia jaamade,  elektriautode laadimisseadmete ja
muude  seotud lahenduste tervikpakette.  Eesti, Soome, Rootsi  ja Leedu tehastes
töötab  ligikaudu  900 töötajat  ning  kontserni  2022. aasta  esimese poolaasta
müügitulu  oli 79,2 miljonit eurot.  Harju Elektri aktsiad  on noteeritud Nasdaq
Tallinna börsil.

Tiit Atso
Juhatuse esimees
+372 6747400

Content of announcement in English

Title

Enefit Connect OÜ’s claim against the subsidiary of Harju Elekter

Message

In     its    stock    exchange    release    published    on    20 May    2022
(https://view.news.eu.nasdaq.com/view?id=be96cd5b149ef76b9dd1356c40b489341&lang=
en),  AS Harju Elekter announced the termination of the framework agreements for
hermetic distribution transformers concluded by its subsidiary Energo Veritas OÜ
with  Enefit  Connect  OÜ  and  that  Enefit  Connect  OÜ  does not consider the
cancellation of the framework contracts to be lawful.

On  20 September 2022, Enefit Connect OÜ filed a claim against Energo Veritas OÜ
for  a breach of  the framework agreements  for a total  amount of 1,374,645.38
euros.  The  amount  includes  fines  for  delays, non-fulfilment of orders, and
failure  to ensure emergency  reserves. In addition,  Enefit Connect OÜ notified
its  intention to file a claim for an amount of 2,094,249 euros arising from the
difference  between the prices agreed in the framework agreements and the prices
of  the  agreements  awarded  by  Enefit  Connect  OÜ as a result of the dynamic
procurement  system. This is a loss for the future, as Enefit Connect OÜ has not
yet  made any payments in excess of  the price stated in the framework agreement
as of 20 September 2022.

Energo  Veritas OÜ  is of  the opinion  that the  framework agreements have been
cancelled  and the framework  agreements have been  lawfully withdrawn from, and
does  not  admit  or  concede  the  merits  of  the claim or the existence of an
infringement.

Above  mentioned financial  claims may  have a  negative impact on the financial
position of the group.

Harju  Elekter is an  international industrial group  with more than 50 years of
experience,  whose main activity is the development and production of electrical
and  automation equipment. Part of the  technical solutions of Harju Elekter are
aimed  at the renewable  energy sector, offering  complete plans for solar power
plants,  electric vehicle  charging stations,  and other  related solutions. Its
factories  in Estonia, Finland, Sweden,  and Lithuania employ approximately 900
employees,  and  the  Group's  revenue  for  the first six months 2022 was 79.2
million  euros. The  shares of  Harju Elekter  are listed  on the Nasdaq Tallinn
Stock Exchange.

Tiit Atso
Chairman of the Board
+372 6747400