Decisions adopted at the annual shareholders meeting of JSC SAF Tehnika on 13 December, 2023
13.12.23.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 2022/2023.
2. Approve the consolidated and separate financial statements of “SAF Tehnika” JSC for financial year 2022/2023 and release the Group`s Board of Directors from responsibility for financial year 2022/2023.
3. Keep the profit for the reporting year 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 2023/2024 and determine the maximum remuneration for the auditor of the Annual Reports for the financial year 2023/2024 in the amount of EUR 15’000 (fifteen thousand euros), excluding taxes set in the legislation. Authorize the Board of the Group to sign the contract with the elected auditor.
5. Approve the Management Board and Supervisory Council remuneration report for financial year 2022/2023.
6. Approve the following amendments to the Articles of Association of “SAF Tehnika” JSC by expressing Clause 2.4 of the Articles of Association in a new wording: “The person possessing shares shall enjoy the rights pertaining to such shares.”
Additional information:
Zane Jozepa
CFO, Member of the Board
zane.jozepa@saftehnika.com
www.saftehnika.com
Draft resolutions and voting form for annual shareholders meeting of JSC SAF Tehnika to be held on 6 December, 2022
22.11.22.1. 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 2021/2022.
2. The approval of the annual financial statements for financial year 2021/2022 and release the Board of Directors from responsibility for financial year 2021/2022.
Decision: to approve the consolidated and separate financial statements of “SAF Tehnika” JSC for financial year 2021/2022 and release the Group`s Board of Directors from responsibility for financial year 2021/2022.
3. Decision on the use of profit of the Company.
Decision:
(1) To pay in dividends 0.68 EUR (sixty- eight cents) per one SAF Tehnika JSC share or total amount of 2 019 722.40 EUR (two million nineteen thousand seven hundred twenty-two euros 40 cents);
- The date of record is 20 December, 2022.
- The date of payment is 21 December, 2022.
- Ex-date is 19 December, 2022.
(2) Keep the remaining amount of retained earnings 7 187 954.60 EUR (seven million one hundred eighty-seven thousand nine hundred fifty-four euros and 60 cents) as the retained earnings of SAF Tehnika JSC.
4. Appointment of the auditor for the financial year 2022/2023 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 2022/2023 and determine the maximum remuneration for the auditor of the Annual Reports for the financial year 2022/2023 in the amount of EUR 13’500 (thirteen thousand five hundred euros), excluding taxes set in the legislation. Authorize the Board of the Group to sign the contract with the elected auditor.
5. The approval of Management Board and Supervisory Council remuneration report for financial year 2021/2022
Decision: To approve the Management Board and Supervisory Council remuneration report for financial year 2021/2022.
Attachments: SAF_Balsojuma veidlapa_Voting form_LV_EN.docx
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 subsidiary “SAF North America” LLC. Company operates from Denver, CO, USA serving North American market.
Additional information:
Zane Jozepa
CFO, Member of the Board
zane.jozepa@saftehnika.com
www.saftehnika.com
SAF Tehnika announces the establishment of a subsidiary in Asia
01.09.22.JSC SAF Tehnika (NASDAQ:SAF1R) announces the establishment of a subsidiary SAF Tehnika Asia Pte Ltd in Singapore. The company will be wholly owned by JSC SAF Tehnika.
SAF Asia primary mission will be to provide customers in the Asia-Pacific region with custom-designed and efficient wireless data transmission and sensor solutions. Products and services are intended for both private and public companies that need to ensure high-quality wireless data transmission in telecommunications projects and industrial segments where the IoT ecosystem could be applied.
A/S SAF Tehnika board member Z. Jozepa informs that so far sales in the countries of the Asia and Pacific region were coordinated from Latvia. A closer presence is needed to promote business development in the mentioned region (especially in the IoT segment). The Asian market, which is vast and different from the markets learned so far, requires a much deeper understanding, presence, and relationship building.
"We are very happy about the company's board decision to establish this subsidiary. This will certainly help to improve SAF Tehnika's ability to provide strong support to local clients who need both individual consultations and specialized service solutions in cooperation with partner companies, and will promote SAF Tehnika's business development in this fast-growing market," adds sales director J. Isarovs.
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 subsidiary “SAF North America” LLC, which operates from Denver, CO, USA and serves the North American market.
Additional information:
Zane Jozepa
CFO, Member of the Board
zane.jozepa@saftehnika.com
www.saftehnika.com
SAF Tehnika Consolidated Interim Report for Q4 and 12 months of financial year 2021/2022
11.08.22.In the fourth quarter of the financial year 2021/2022, the Group’s unaudited consolidated net turnover was 8.4 million euros, which is 2% more than in the fourth quarter of the FY 2020/2021. The Group ended the fourth quarter of the financial year 2021/2022 with a profit of EUR 824 thousand (unaudited). The unaudited consolidated result of the financial year 2021/2022 is profit of EUR 5.96 million.
The turnover of the region of the countries of North and Latin America amounted to 64%, or EUR 5.4 million. Compared to the same quarter turnover last financial year, the turnover increased by 7%.
The turnover of the region of Europe and the CIS countries is 28%, or EUR 2.3 million. Compared to the corresponding quarter of the last financial year, the turnover of Asia, Africa and the Middle East region decreased by 4% and accounts for 8% of total quarterly turnover (or EUR 675 thousand).
In the reporting quarter, the Group’s products were sold in 66 countries.
The Group’s expenditures did not exceed the planned volumes and were generally higher than in the same period a year earlier, which is due to the increase in the number of employees, investment in sales promotion in existing and new market segments. The Group continues to invest in the development of new products and modification of existing products.
The Group’s unaudited consolidated turnover for the financial year 2021/2022 was EUR 33.97 million, which is 35% more than the amount of revenue in the previous financial year.
The consolidated unaudited result of the financial year 2021/2022 is profit of EUR 5.96 million. The Group’s profit for the previous financial year 2020/2021 was EUR 3.88 million. The Group’s net cash balance at the end of the period was 2.8 million euros.In the 4th quarter of the financial year 2021/2022, EUR 856 thousand were invested in the acquisition of fixed assets (total EUR 1.68 million in the financial year).
In the final quarter of the financial year, in order to strengthen its position in the international market and promote brand and product recognition, SAF Tehnika participated in 16 international exhibitions, covering industries of different scale in the USA, Europe and Asia. At the same time, great emphasis was placed on digital marketing activities and e-commerce, promoting both brand awareness and increasing sales figures.
Since the outbreak of hostilities in Ukraine by Russia, the direct impact on the Group’s activities is relatively limited, but the uncertainty of the business environment has increased. The Group carefully assesses possible cost growth forecasts and potential risks. The Group’s operations are affected by the global shortage of various electronic components. Supply chains are becoming increasingly difficult – alternative transportation options increase delivery times and costs. As in times of global pandemic, the company regularly reviews procurement volumes and deadlines, and continues to accumulate inventory in order to be able to fulfil 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, as well as continues investments in product development. The goal of the Company is to stabilize sales levels to ensure a positive net result in the long term.
Attachment: 12M FY21_22_SAF_results ENG.pdf
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
zane.jozepa@saftehnika.com
www.saftehnika.com
Dividend payment ex-date of JSC “SAF Tehnika”
17.12.21.JSC “SAF Tehnika” (SAF1R, ISIN: LV0000101129) will close the list of shareholders for dividend payment on December 22, 2021 at the end of the working day of the Nasdaq CSD Latvian Settlement System.
Proceeding from the above, the ex-date is December 21, 2021. From that date the new owner of the shares is not entitled to dividends.
JSC “SAF Tehnika” will pay dividend 0.67 EUR per share on December 23, 2021.
JSC “SAF Tehnika” confirms that the dividends are paid from profits:
- earned until 31.12.2017 in the amount of EUR 1 793 632.30;
- earned for the financial year 2019/2020 in the amount of EUR 196 388.30.
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 8 December, 2021
08.12.21.1. Approve the reports of the Board of Directors and the Supervisory Council for financial year 2020/2021.
2. Approve the consolidated and separate financial statements of “SAF Tehnika” JSC for financial year 2020/2021 and release the Group`s Board of Directors from responsibility for financial year 2020/2021.
3.
(1) To pay in dividends 0.67 EUR (sixty- seven cents) per one SAF Tehnika JSC share or total amount of 1 990 020.60 EUR ( one million nine hundred ninety thousand twenty euros 60 cents); The profit accrued until 31 December 2017 is 1 793 627.20 EUR (one million seven hundred ninety-three thousand six hundred twenty-seven euros and 20 cents).
The date of record is 22 December, 2021.
The date of payment is 23 December, 2021.
Ex-date is 21 December, 2021.
(2) Keep the remaining amount of retained earnings 3 453 438.60 EUR (three million four hundred fifty-three thousand four hundred thirty-eight euros and 60 cents) 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 2021/2022 and determine the maximum remuneration for the auditor of the Annual Reports for the financial year 2021/2022 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 Management Board and Supervisory Council remuneration report for financial year 2020/2021.
6. As of December 8, 2021 to recall from the position of member of the Supervisory Council - Juris Ziema, Andrejs Grisans, Ivars Senbergs, Aira Loite, Sanda Salma.
To elect the Supervisory Council of joint stock company “SAF Tehnika” for a three year term in the following composition - Juris Ziema, Andrejs Grisanss, Ivars Senbergs, Sanda Salma, Aira Loite by fixing beginning of term of office on December 8, 2021.
7. Authorize the Supervisory Council to perform the tasks of Revision Committee prescribed in legislation.
Attachments: 20211208_AkcionaruSapulcesProtokols_WEB_ENG
Additional information:
Zane Jozepa
CFO, Member of the Board
+371 67 046 833
zane.jozepa@saftehnika.com
www.saftehnika.com
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
