SAF Tehnika                                                      01.11.2004.



JSC „SAF Tehnika” resolutions of Annual Shareholder Meeting October 29, 2004



1. The report of the Board of Directors

Decision to approve the report of the Board of Directors;



2. The report of the Supervisory Council

Decision to approve the report of the Supervisory Council;



3. The annual report

Decision to approve the annual report;



4. The election of the Supervisory Council

Decision to elect Vents Lācars, Juris Ziema, Andrejs Grišāns, Ivars Šenbergs, 

Ivars Bergmanis as members of the Supervisory Council consisting of five members 

for 3 year term;



5. The election of the auditor

Decision to elect SIA “PriceWaterhouseCoopers” as the auditor of the Company for 

the next financial year. To authorize the Board of Directors to set the auditors 

fee. 



6. Use of profit from the previous year of activity

1) Decision to pay part of the previous years profit 990060 LVL (nine hundred 

ninety nine thousand and sixty Latvian lats) in dividends to the shareholders 

setting the amount of dividends 1 LVL (one Latvian lat) per share setting the 

date of calculation November 24, 2004 and the date of payment December 1, 2004;



2) Decision to use part of previous years profit 1980120 LVL (one million ninety 

eight thousand and one hundred and twenty Latvian lats) to increase the share 

capital of the company and issue 1980120 shares with par value of each share is 

LVL 1.00 (one Latvian lat) as bonus shares divided proportionally among the 

stockholders setting the date of issuing new shares, December 1, 2004.



2.1) Decision to approve amendment to the article 2.1.articles of association as 

follows:

„The share capital of the Company shall be LVL 2’970’180.00 (two million nine 

hundred seventy thousand and one hundred and eighty Latvian lats) which consists 

of 2’970’180 ((two million nine hundred seventy thousand and one hundred and eighty) 

shares. All shares shall be issued as securities.”



3) Decision to add part of previous years profit 950389 LVL (nine hundred fifty 

thousand and three hundred and eighty nine Latvian lats) to the reserve fund of 

the company.



7. Other

1) To authorize with power to delegate authority Chairman of the Board of the 

Company Normunds Bergs to sign an Application to the Commercial Register Authority 

to register the resolutions and amendments of articles of association passed by the 

meeting of Shareholders in the Commercial Register, to ascertain an excerpt from the 

Minutes of this meeting, and to sign repeated application and / or complaint to the 

Commercial Register Authority in the case of Application for the Registry being 

declined.



2) To authorize legal adviser of the company Valdis Bergs to submit all the required 

documentation and supply the required explanations, if demanded, to register the 

resolutions passed by the meeting of Shareholders in the Commercial Register, and 

to take out the documents from the Commercial Register Authority.