Decisions adopted at JSC "SAF Tehnika" annual shareholders meeting on 12th November 2009 can be found in the attachment.
Taking into account that the shareholders of JSC "SAF Tehnika" decided to pay dividends, the Board of Directors of JSC "SAF Tehnika" declares that the date of calculation of dividends will be 21st December 2009 but the date of payment of dividends will be 28th December 2009.
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Draft resolutions of JSC "SAF Tehnika" annual shareholders meeting can be found in the attachment.
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Joint Stock company
(hereinafter - Company)
Draft Resolutions of extraordinary Shareholders' Meeting of 21st January 2009
1. Reduction of equity capital of the company buying out and cancelling company's stock.
Decision: Mandate the Company to buy-out its shares in order to reduce the equity capital of the Company by cancelling Company's stock taken out of circulation (bought-out).
2. Approval of the general terms of stock buy-out.
Decision: Approve following general terms of stock buy-out:
1) The aim of stock buy-out - to reduce the equity capital of the Company for a sum which corresponds to the nominal value of the shares bought-out by the Company by cancelling Company's stock taken out of circulation (bought-out);
2) Upper limit of the sum which can be used to buy-out the shares is LVL 300 000.00 (three hundred thousand Latvian lats);
3) Minimum number of Company's shares which shall be acquired within a buy-back proposal is 10 000 (ten thousand);
4) The way of stock buy-out - stock are bought-out using the services of Riga Stock Exchange providing equal possibilities for shareholders to sell the shares for a fixed price;
5) The stock buy-out term is 18 (eighteen) months counting from the day when shareholders' meeting has adopted a decision regarding the stock buy-out. Board of Directors can make buy-out proposals for several times freely stating the terms in which respective proposals for a concrete (fixed) price are in force;
6) Remuneration for one share - Board of Directors can freely fix the price of a share within a concrete buy-out proposal.
7) Possibility to alter the number of shares on sale - shareholders have a right within each term of buy-out proposal to alter the number of shares which they are willing to sell under the terms of a buy-out proposal. Final number of the shares regarding which shareholders accept the stock buy-out proposal is fixed at the moment when the term of the concrete stock buy-out proposal is expired;
8) Procedure of stock buy-out in case shareholders accept stock buy-out proposal regarding a number of stock at which the sum of its acquisition exceeds the sum mentioned in article 2 - Company buys-out the shares proportionally from all the shareholders which have accepted the proposal;
9) Procedure of stock buy-out in case shareholders within a concrete stock buy-out proposal accept it regarding a number of stock which is less than the minimum number of shares which shall be acquired - Concrete stock buy-out proposal is not valid from the date of its publication;
10) Procedure for disbursement of remuneration - Remuneration to shareholders is disbursed under the Riga Stock Exchange rules on procedure of financial instruments' and currency payments
3. Authorization with a power to delegate for the Board of Directors to perform all necessary actions for the buy-out of company's stock observing the general terms of stock buy-out and laws in force.
Decision: Authorize with a power to delegate the Board of Directors to perform all necessary actions for the buy-out of company's stock observing the general terms of stock buy-out and laws in force