Eltek ASA closes Put Option with Eltek Valere minority shareholders

As previously communicated, the minority shareholders of Eltek
Valere have exercised their Put-option and elected to sell all their shares to Eltek ASA. On Friday 18 December, 2009, the Put option was effectuated and Eltek ASA became owner of 99.998% of the shares in Eltek Valere. The total consideration for the shares is approximately NOK 235 million, which Eltek ASA will settle by issuance of promissory notes within twenty days from Friday 18 December, 2009. Reference is made to the Stock Exchange notification dated 11 December 2009 for further details.

For further information, please contact:
CFO Pål Skistad, +47 908 50 378