Eltek ASA: PROPOSAL OF INCREASED DIVIDEND AT THE ANNUAL GENERAL MEETING

Reference is made to the Notice to the Annual General Meeting of Eltek ASA dated 11 April 2014 where inter alia the Board of Directors has proposed that a dividend of NOK 0.50 per share is distributed. The Annual General Meeting is to be held on 6 May 2014. As a consequence of the settlement with Ceragon on 1 April 2014 relating to the divestment of Nera Networks AS, the Board of Directors has resolved to propose at the Annual General Meeting an increase of the dividend to NOK 0.75 per share.

For further information, please contact:

CFO Björn Wigström, Eltek ASA
Tel: +47 90 53 13 04

About Eltek ASA:

Eltek is a strategic technology partner for power solutions. The company reported revenue of NOK 3.7 billion in 2013, and has approximately 2,400 employees and operations in almost 40 countries. The company focuses on power electronics markets, where it is one of the leaders in telecom power and a growing force within industrial applications. Eltek is also pursuing growth opportunities within the datacenter market. Eltek is listed on Oslo Stock (ELT:Oslo) Exchange and headquartered in Drammen, Norway.