Draft Resolutions of the extraordinary shareholders meeting of JSC "SAF Tehnika"

Joint Stock company
„SAF Tehnika”
(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. 

Aira Loite
CFO
+371 67 046 833
Aira.Loite@saftehnika.com