I would say yes. If the horizontal vis is 7000 m, then the mist is pretty thin. The vertical vis stops at 300 feet and that figure is so far below the 7000m figure it must indicate an effective ceiling at 300 feet, just without a definite base (as it fades into mist.)
In any event, as a European operator, you only have to account for visibility for ILS approaches, so the ceiling is irrevelant.
EU-OPS 1.297
Planning minima for IFR flights
(a) Planning minima for a take-off alternate aerodrome. An operator shall only select an aerodrome as a take-off alternate aerodrome when the appropriate weather reports or forecasts or any combination thereof indicate that, during a period commencing one hour before and ending one hour after the estimated time of arrival at the aerodrome, the weather conditions will be at or above the applicable landing minima specified in accordance with OPS 1.225.
The ceiling must be taken into account when the only approaches available are non-precision and/or circling approaches. Any limitation related to one-engine-inoperative operations must be taken into account.
(b) Planning minima for a destination aerodrome (except isolated destination aerodromes). An operator shall only select the destination aerodrome and when:
1. the appropriate weather reports or forecasts, or any combination thereof, indicate that, during a period commencing one hour before and ending one hour after the estimated time of arrival at the aerodrome, the weather conditions will be at or above the applicable planning minima as follows:
(i) RVR/visibility specified in accordance with OPS 1.225; and
(ii) For a non-precision approach or a circling approach, the ceiling at or above MDH; or
[emphasis mine]