Dividend payment ex-date of JSC “SAF Tehnika”
15.12.20.JSC “SAF Tehnika” (SAF1R, ISIN: LV0000101129) will close the list of shareholders for dividend payment on December 18, 2020 at the end of the working day of the Nasdaq CSD Latvian Settlement System.
Proceeding from the above, the ex-date is December 17, 2020. From that date the new owner of the shares is not entitled to dividends for the year 2017.
JSC “SAF Tehnika” will pay dividend 0.21 EUR per share on December 21, 2020.
JSC “SAF Tehnika” confirms that the dividends are paid from profits earned until 31.12.2017.
About SAF Tehnika:
„SAF Tehnika” JSC is an ISO certified wireless data transmission equipment manufacturer. The company's products are produced in Latvia, Europe and sold in over 130 countries worldwide. „SAF Tehnika” has been listed on Nasdaq Riga since 2004. SAF Tehnika wholly owns subsidiaries “SAF North America” LLC and “SAF Services” LLC. Both of the mentioned companies are operating from Denver, CO, USA serving North American market.
Additional information:
Zane Jozepa
CFO, Member of the Board
+371 67 046 840
Zane.Jozepa@saftehnika.com
www.saftehnika.com
Decisions adopted at the annual shareholders meeting of JSC SAF Tehnika on 4 December, 2020
04.12.20.The following decisions were adopted at the annual shareholders meeting of JSC "SAF Tehnika":
1. Approve the reports of the Board of Directors and the Supervisory Council for financial year 2019/2020.
2. Approve the consolidated and separate financial statements of “SAF Tehnika” JSC for financial year 2019/2020 and release the Group`s Board of Directors from responsibility for financial year 2019/2020.
3. (1) To pay in dividends the profit accrued until 31 December 2017 as 0.21 EUR (twenty- one cent) per one SAF Tehnika JSC share or total amount of 623 737,80 EUR (six hundred twenty-three thousand seven hundred thirty-seven euros and 80 cents);
- The date of record is 18 December, 2020.
- The date of payment is 21 December, 2020.
- Ex-date is 17 December, 2020.
(2) Keep the remaining amount of retained earnings 2 266 812 EUR (two million two hundred sixty-six thousand eight hundred twelve euros) as the retained earnings of SAF Tehnika JSC.
4. Appoint “Potapoviča un Andersone” Ltd. as the auditor of the “SAF Tehnika” JSC for the financial year 2020/2021 and determine the maximum remuneration for the auditor of the Annual Reports for the financial year 2020/2021 in the amount of EUR 11’000 (eleven thousand euro ), excluding taxes set in the legislation. Authorize the Board of the Group to sign the contract with the elected auditor.
5. Approve the remuneration policy of the Board of Directors and Supervisory Council.
Attachments:
20201204_AkcionaruSapulcesProtokols_WEB_ENG
SAF_Renumeration_Policy_ENG
Additional information:
Zane Jozepa
CFO, Member of the Board
+371 67 046 840
Zane.Jozepa@saftehnika.com
www.saftehnika.com
Draft resolutions and voting form for annual shareholders meeting of JSC SAF Tehnika to be held on 4 December, 2020
23.11.20.1. The approval of the reports of the Board of Directors and Supervisory Council.
Decision: to approve the reports of the Board of Directors and the Supervisory Council for financial year 2019/2020.
2. The approval of the annual financial statements for financial year 2019/2020 and release the Board of Directors from responsibility for financial year 2019/2020.
Decision: to approve the consolidated and separate financial statements of “SAF Tehnika” JSC for financial year 2019/2020 and release the Group`s Board of Directors from responsibility for financial year 2019/2020.
3. Decision on the use of profit of the Company.
Decision:
(1) To pay in dividends the profit accrued until 31 December 2017 as 0.21 EUR (twenty- one cent) per one SAF Tehnika JSC share or total amount of 623 737,80 EUR (six hundred twenty-three thousand seven hundred thirty-seven euros and 80 cents);
The date of record is 18 December, 2020.
The date of payment is 21 December, 2020.
Ex-date is 17 December, 2020.
(2) Keep the remaining amount of retained earnings 2 266 812 EUR (two million two hundred sixty-six thousand eight hundred twelve euros) as the retained earnings of SAF Tehnika JSC.
4. Appointment of the auditor for the financial year 2020/2021 and determination of the reward for the auditor.
Decision: Appoint “Potapoviča un Andersone” Ltd. as the auditor of the “SAF Tehnika” JSC for the financial year 2020/2021 and determine the maximum remuneration for the auditor of the Annual Reports for the financial year 2020/2021 in the amount of EUR 11’000 (eleven thousand euro ), excluding taxes set in the legislation. Authorize the Board of the Group to sign the contract with the elected auditor
5. Approval of the remuneration policy of the Management Board and the Supervisory Council.
Amendments to the Financial Instrument Market Law stipulate the obligation of all companies whose shares are listed on the regulated market to prepare, approve in the shareholder meeting and publish the remuneration policy of the Board of Directors and the Supervisory Council.
Decision: To approve the remuneration policy of the Board of Directors and Supervisory Council.
The draft remuneration policy of the Board of Directors and the Supervisory Council is attached as separate document to this announcement.
About SAF Tehnika:
„SAF Tehnika” JSC is an ISO certified wireless data transmission equipment manufacturer. The company's products are produced in Latvia, Europe and sold in over 130 countries worldwide. „SAF Tehnika” has been listed on Nasdaq Riga since 2004. SAF Tehnika wholly owns subsidiaries “SAF North America” LLC and “SAF Services” LLC. Both of the mentioned companies are operating from Denver, CO, USA serving North American market.
Attachments:
SAF_Voting form_EN
SAF_Renumeration_Policy_ENG
Additional information:
Zane Jozepa
CFO, Member of the Board
+371 67 046 833
zane.jozepa@saftehnika.com
www.saftehnika.com
Notification on convocation of regular meeting of shareholders of JSC “SAF Tehnika” on 4 December, 2020
05.11.20.The Board of Directors of “SAF Tehnika” JSC (Reg.No.40003474109, legal address: 24a, Ganibu dambis, Riga, LV-1005, Latvia) informs that it convenes a regular shareholders’ meeting on 4 December, 2020 at 3.00 PM (GMT +2H).
Due to Covid-19 pandemics to protect the health of shareholders, Group`s employees and society we invite all shareholders to participate in the meeting online without a physical presence. Shareholders, who want to participate in the meeting on-site, must electronically submit a negative Covid-19 test result with issue date no earlier than 2 December, 2020, by the end of working day 3 December.
Agenda:
- Approval of report of the Board of Directors and the Supervisory Council;
- Approval of the annual report for the financial year 2019/2020 and release the Board of Directors from responsibility for financial year 2019/2020;
- Taking a decision regarding distribution of FY 2019/2020 profit;
- Appointment of the auditor for the financial year 2020/2021 and determination of reward for the auditor;
- Approval of Management Board and Supervisory Council remuneration policy
Shareholders and their representatives can submit draft decisions regarding the issues of the agenda to be discussed on the shareholders meeting until 11 November 2020 by sending them signed with a secure electronic signature to the e-mail address investors@saftehnika.com. Or by sending them by post to the head office at Ganibu dambis 24a, Riga, LV-1005, Latvia.
Draft resolutions on the issues of the agenda to be discussed on the shareholders meeting and the voting form will be published on 20 November 2020. Draft resolutions will be available also on company’s webpage www.saftehnika.com, but on the meeting day at the registration desk.
The total number of shares with a right to vote amounts to 2 970 180 (two million nine hundred seventy thousand one hundred eighty).
Shareholders can participate personally or delegate a representative and to vote in person or to exercise the right to participate and vote remotely by electronic means.
Shareholders may exercise the right to vote in writing before the shareholders' meeting, using a secure electronic signature, by sending a vote to the e-mail address investors@saftehnika.com or in paper sending by post to the address Ganibu dambis 24a, Riga, LV-1005, Latvia. The published voting form must be used for voting. Such a vote will be taken into account if received by the end of 3 December, 2020. Shareholders with such a vote will be considered present at the shareholders' meeting. A shareholder who has voted before the shareholders' meeting may ask the Company to confirm the receipt of the vote. The Company shall send a confirmation to the shareholder immediately upon receipt of the shareholder's vote.
If a shareholder has voted before the meeting, this does not prevent him from attending the meeting in person or joining the meeting remotely and participating in the voting. In this case, the vote previously cast by the shareholder will be canceled and the vote cast during the meeting will be taken into account.
Only persons or entities which are shareholders on the date of record will be entitled to participate in the shareholders’ meeting. The date of record is the end of the day of 26 November 2020.
Registration and identification of shareholders who wish to participate to the meeting remotely will take place in the following order:
- By the end of December 3, 2020 shareholders must send a published meeting application form signed with a secure electronic signature to the e-mail address investors@saftehnika.com. Or signed paper meeting application by post together with a copy of passport or other identification document to the address Ganibu dambis 24a, Riga, LV-1005, Latvia.
Representatives of shareholders must also attach to the e-mail or parcel legally valid copy of the written power of attorney of the represented shareholder.
- Shareholders applied for participation in the meeting remotely will receive an individual connection link to the meeting by e-mail until December 4, 2020 at 1.00 PM
- There will be a video identification held on the day of the meeting from 2.30 p.m. to 3.00 p.m. for security purposes. Shareholders who have applied for the meeting remotely using the link provided must join the meeting at 2.30 p.m. and be prepared to present an identity document by video so that the Chairman of the meeting can compare the image of the shareholder or representative with the image shown in the identity document. During the identification of the video, the head, shoulders, face without shading of the person and a clearly visible image in the presented document must be visible.
The video and audio streaming of the meeting and the video identification process will be recorded.
- Shareholders, who want to participate in the meeting on-site, must electronically submit a negative Covid-19 test result with issue date no earlier than 2 December, 2020. By sending the result to the e-mail address investors@saftehnika.com by the end of working day 3 December.
Registration of participants will take place at the venue on the day of the shareholders’ meeting – on 4 December 2020 from 2.30 p.m. until 3.00 p.m.
Shareholders at the registration must present a passport or another identification document. Representatives of shareholders at the registration must show a power of attorney witnessed by a notary or a power of attorney legally equal to that and passport or another verifying document. The template of the power of attorney is available on company’s webpage www.saftehnika.com.
Attachment: Shareholder meeting application form_ENG
The Board of “SAF Tehnika” JSC
Additional information:
Zane Jozepa
CFO, Member of the Board
zane.jozepa@saftehnika.com
+371 67046825
SAF Tehnika Annual report/ annual accounts
29.10.20.Audited statements and Corporate Governance report of „SAF Tehnika” for financial year 2019/2020
Net turnover of the “SAF Tehnika” Group in the 2019/2020 financial year was 16.76 million euros, which is by 2.32 million euros or by 16% higher than in the previous financial year 2018/2019. The net turnover of the Parent company in FY 2019/2020 was EUR 13.86 million, which is by EUR 1.99 million higher than in the previous FY 2018/2019. The Board of the Parent company proposes to pay dividends of EUR 473 185.
“SAF Tehnika” publishes its audited consolidated and non-consolidated financial statements for financial year 2019/ 2020 (from July 1, 2019- June 30, 2020) according to Section 56th, 5th paragraph of „Law on the Financial Instruments Market”
During the reporting year, the development and improvement of the microwave wireless data transmission product line continued. Solutions were found to improve functionality and quality indicators, and to reduce production costs. The Group continued to design and develop the Aranet functionality – the new Internet of Things (IoT) environmental monitoring solution, as well as kept on working on the Aranet Cloud service. Aranet is an industrial-grade wireless environmental monitoring solution that allows taking measurements of various environmental parameters over a wide area, including monitoring of temperature, humidity, and CO2.
Exports made 96.93% of the turnover and amounted to EUR 16.24 million. During the reporting year, the Group exported its products to 83 countries worldwide.
Fluctuations in turnover for all regions are affected by variable proportion of projects, replacement of equipment generations, and product audits, especially in the segments of standard equipment.
During the reporting year, the Group invested EUR 439 thousand into IT infrastructure, production and research equipment, purchase of software and licenses, as well as product certification.
The Group completed the financial year 2019/2020 with a profit of EUR 442 thousand.
The Parent company’s financial result for FY 2019/2020 was a profit of EUR 473 thousand EUR. This successful result of economic activity was provided by an increase in the share of variable specialized projects with high added value in the overall project portfolio.
The Board of the Parent company proposes to pay dividends of EUR 473 185.
Attachments:
Audited Consolidated financial statements and Separate financial statements for “SAF Tehnika” for the year ended 30 June 2020
Corporate Governance report for financial year 2019/2020
Zane Jozepa
CFO, Member of the Board
+371 67 046 833
Zane.Jozepa@saftehnika.com
SAF Tehnika Consolidated Interim Report for Q4 and 12 months of financial year 2019/2020
12.08.20.For Q4 of the FY 2019/2020, the Group's unaudited consolidated net turnover was 3.53 million euros, which is by 8% less than in Q4 of the FY 2018/2019. The Group ended the fourth quarter with a loss of EUR 135 thousand (unaudited). The unaudited consolidated result of the financial year 2019/2020 is profit of EUR 476 thousand.
Most of the quarterly turnover was made by sales in North/Latin Americas region – 59% or 2.07 million EUR. Turnover in Europe and CIS region composes 30% or EUR 1.06 million EUR. The AMEA (Asia, Middle East, Africa) region had a turnover of 11% or EUR 394 thousand.
The Group’s products were sold in 50 countries during the reporting quarter.
The Group’s unaudited consolidated turnover of the FY 2019/2020 was EUR 16.76 million, which is 16% more than the amount of revenue in the previous financial year.
The unaudited consolidated result of the financial year 2019/2020 is profit of EUR 476 thousand. The Group’s result in the previous financial year 2018/2019 was a loss of EUR 414 thousand.
In the fourth quarter special attention was paid to creating and expanding digital content for both Spectrum Compact and Aranet product families. During the quarter, a new addition to the Aranet product line was introduced – an innovative solution for measuring human body temperature for medical institutions fighting the COVID-19 pandemic, more details on https://aranetmedical.com/.
During the Covid-19 pandemic, all offices and the manufacturing facility of SAF Tehnika are operating normally, the company manufactures and ships its products worldwide. The company accumulates enough materials, has adjusted supply chains and is able to fulfil most of the orders within normal lead times. This applies to all SAF product families – microwave links, Spectrum Compact and Aranet.
There has been no rapid change in the microwave radio market over the last quarter. However, various specific restrictions due to the global COVID-19 pandemic cause project lags.
The Group continues to explore market demand and problematic issues in order to be able to provide necessary product modifications both on a daily basis and in the context of changing global circumstances, as well as continues investments in product development.
The Company’s goal is to stabilize sales levels to ensure a positive net result in the long term. The Board of SAF Tehnika retains caution and refrains from making certain predictions regarding future sales volumes and financial results.
About SAF Tehnika:
„SAF Tehnika” JSC is an ISO certified wireless data transmission equipment manufacturer. The company's products are produced in Latvia, Europe and sold in over 130 countries worldwide. „SAF Tehnika” has been listed on Nasdaq Riga since 2004. SAF Tehnika wholly owns subsidiaries “SAF North America” LLC and “SAF Services” LLC. Both of the mentioned companies are operating from Denver, CO, the USA serving North American market.
Additional information:
Zane Jozepa
CFO, Member of the Board
+371 67 046 833
zane.jozepa@saftehnika.com
SAF Tehnika A/S Consolidated Interim Report for Q3 and 9 month of financial year 2019/2020
14.05.20.For Q3 of the FY 2019/2020, the Group's unaudited consolidated net turnover was 4.52 million euros, which is by 24% more than in Q3 of the FY 2018/2019. The Group ended the Q3 of FY 2019/2020 with a profit of EUR 158 thousand (unaudited). The unaudited consolidated result for 9 months of the FY 2019/2020 is profit of EUR 610 thousand.
Most of the quarterly turnover was made by sales in North/Latin Americas region – 65% or 2.95 million EUR. Turnover in Europe and CIS region composes 25% or EUR 1.13 million EUR. The AMEA (Asia, Middle East, Africa) region had a turnover of 10% or EUR 435 thousand.
The Group’s products were sold in 54 countries during the reporting quarter.
The Group’s unaudited consolidated turnover for the 9-month period of the FY 2019/2020 was EUR 13.23 million, which is 25% more than the amount of revenue in the same period of the previous financial year.
The unaudited consolidated result for the 9-month period of FY 2019/2020 is profit of EUR 610 thousand. The Group’s result of 9 months in the previous financial year 2018/2019 was a loss of EUR 511 thousand.
During the quarter, the Group created a separate website dedicated to the Spectrum Compact product line: www.spectrumcompact.com.
During the Covid-19 pandemic, all offices and the manufacturing facility of SAF Tehnika are operating normally, the company manufactures and ships its products worldwide. The company has accumulated enough materials, adjusted supply chains and is able to fulfill most of the orders within normal lead times. This applies to all SAF product families – microwave links, Spectrum Compact and Aranet.
The Group continues to explore market demand and problematic issues in order to be able to provide necessary product modifications both on a daily basis and in the context of changing global circumstances, as well as continues investments in product development.
The Company’s goal is to stabilize sales levels to ensure a positive net result in the long term. The Board of SAF Tehnika retains caution and refrains from making certain predictions regarding future sales volumes and financial results.
About SAF Tehnika:
SAF Tehnika JSC is an ISO certified wireless data transmission equipment manufacturer. The company's products are produced in Latvia, Europe and sold in over 130 countries worldwide. SAF Tehnika has been listed on Nasdaq Riga since 2004. SAF Tehnika wholly owns subsidiaries SAF North America LLC and SAF Services LLC. Both of the mentioned companies are operating from Denver, CO, the USA serving North American market.
Additional information:
Zane Jozepa
CFO, Member of the Board
+371 67 046 833
zane.jozepa@saftehnika.com
SAF Tehnika Consolidated Interim Report for Q2 and 6 months of financial year 2019/2020
12.02.20.For Q2 of the FY 2019/2020, the Group's unaudited consolidated net turnover was 4.72 million euros, which is by 21% more than in Q2 of the FY 2018/2019. The Group ended the second quarter with a profit of EUR 193 thousand (unaudited).The unaudited consolidated result for 6 months of the FY 2019/2020 is profit of EUR 451 thousand.
Most of the quarterly turnover was made by sales in North/Latin Americas region – 69% or 3.25 million EUR. It is the region’s highest quarterly turnover over the last 2 financial years due to successful sales at the end of the previous quarter.
Turnover in Europe and CIS region composes 23% or EUR 1.1 million EUR. The AMEA (Asia, Middle East, Africa) region had a turnover of 8% or EUR 376 thousand.
The Group’s products were sold in 59 countries during the reporting quarter.
The Group’s unaudited consolidated turnover for the 6-month period of the FY 2019/2020 was EUR 8.71 million, which is 25% more than the amount of revenue in the previous financial year.
The unaudited consolidated result for the 6-month period of is profit of EUR 451 thousand. The Group’s result of 6 months in the previous financial year 2018/2019 was a loss of EUR 490 thousand.
During the reporting period, SAF Tehnika participated in trade fairs, including the largest Middle East Technology Exhibition in Dubai – GITEX (for the fourth time), the Smart building show in the UK, RigaComm exhibition in Riga, WISPAPALOOZA in Las Vegas, FIA Expo in Chicago, as well as in a series of smaller events in Europe, USA and Latin America.
The Group continues to explore market demand and problematic issues in order to be able to provide necessary product modifications, as well as continues investments in product development.
The Company’s goal is to stabilize sales levels to ensure a positive net result in the long term. The Board of SAF Tehnika retains caution and refrains from making certain predictions regarding future sales volumes and financial results.
About SAF Tehnika:
„SAF Tehnika” JSC is an ISO certified wireless data transmission equipment manufacturer. The company's products are produced in Latvia, Europe and sold in over 130 countries worldwide. „SAF Tehnika” has been listed on Nasdaq Riga since 2004. SAF Tehnika wholly owns subsidiaries “SAF North America” LLC and “SAF Services” LLC. Both of the mentioned companies are operating from Denver, CO, the USA serving North American market.
Additional information:
Zane Jozepa
CFO, Member of the Board
+371 67 046 833
zane.jozepa@saftehnika.com
