OREANDA-NEWS. In accordance with Paragraph 14 of Section 59 of the Law of Financial Instruments Market, SAF Tehnika JSC (hereinafter – the Company) informs that it became aware of liquidity issues of the Company’s partner in Brazil who had purchased SAF equipment in order to implement the project of building up the Brazilian TV broadcast network (hereinafter – the Partner). As the result, the Partner has not been able to meet the conditions for TV broadcast network construction project implementation, and the customer has terminated the agreement. The total amount of the SAF equipment delivered to the Partner (and not yet paid) is 578,000.00 USD, and the payment due date is August 2013.

SAF Tehnika had acquired Latvian Guarantee Agency’s export guarantee for this transaction which, according to the conditions of the export guarantee agreement, will cover part of the overdue amount in case if the partner fails to meet his obligations.