Eltek ASA: MANDATORY NOTIFICATION OF TRADE

Key employees and board members in Eltek ASA and its subsidiaries have today subscribed for a total of 2,152,392 A-shares in Eltek Management Invest AS, a subsidiary of Eltek ASA, as part of a new co-investment program for the Eltek group. Eltek ASA`s shareholding in Eltek Management Invest AS following the transaction is one controlling B-share. The price paid per A-share was NOK 3.97, giving an aggregate subscription amount of NOK 8,545,000.

Eltek Management Invest AS has been established for the purpose of investing in Eltek Valere Holding AS, the only direct subsidiary of Eltek ASA. The amount of NOK 8,545,000 together with a loan amount of NOK 34,180,000, in aggregate NOK 42,725,000 has been used by Eltek Management Invest AS to acquire 3,259,537 shares in Eltek Valere Holding AS corresponding to 3.27% of the share capital in the company. Eltek ASA owns the remaining 96.73% of the share capital of Eltek Valere Holding AS. The following primary insiders have, either directly or through wholly-owned companies, subscribed for shares in Eltek Management Invest AS in the above-mentioned transaction:

Colin Howe, 251,889 A-shares in Eltek Management Invest AS

Mark Baker, 125,945 A-shares in Eltek Management Invest AS

Reidar Hagen, 125,945  A-shares in Eltek Management Invest AS

Bengt Lundberg, 88,161 A-shares in Eltek Management Invest AS

Allen Pitts, 125,945 A-shares in Eltek Management Invest AS

Phil Young, 100,756  A-shares in Eltek Management Invest AS

Bob Hurley, 125,945 A-shares in Eltek Management Invest AS

Lars Dousa, 75,567 A-shares in Eltek Management Invest AS

Michel Fraisse,125,945 A-shares in Eltek Management Invest AS

Frode Vågen, 125,945 A-shares in Eltek Management Invest AS

Morten Heiss Schøyen, 62,972 A-shares in Eltek Management Invest AS

For further information, please contact:

Colin Howe, CEO of Eltek ASA, telephone +44 776 846 6446

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This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Eltek ASA via Thomson Reuters ONE

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