Mapon bonds with ISIN LV0000860161, coupon of 5% + 3-month EURIBOR, maturity on 8 March 2027, new coupon rate for period from 30 September 2024 until 30 December 2024 (including) is 8.431%. The coupon for this period will be paid on 2 January 2025.

Mapon has appointed board member Davis Siksnans as the company's CEO. Former co-CEOs Ingus Rukis and Andris Dzudzilo will continue to serve on the Mapon board and management team as Chief Technology Officer and Chief Sales Officer, respectively. 

"I am truly grateful for the trust placed in me by Mapon's shareholders in appointing me as CEO. It has been a pleasure to witness Mapon's revenue grow sixfold over the past eight years under the leadership of Ingus Rukis and Andris Dzudzilo, establishing the company as a leading provider of fleet management and tracking solutions in Northern Europe. The transportation and logistics industry is rapidly digitizing worldwide, and I believe Mapon has the necessary elements to become the European market leader. One of my priorities will be strengthening the Mapon team," says Davis Siksnans. In addition to his new role as CEO of Mapon, Siksnans will continue to lead the investment company Draugiem Capital. He has been with Draugiem Group, a Latvian technology startup factory, for 15 years, 10 of which he spent as the CEO and co-founder of Latvia’s first unicorn, Printful. 

"Together with Andris, we have led Mapon for eight years and have significantly expanded the company's market share. We need a leader with experience securing substantial investments to guide the company through its next development phase. Davis has already been actively involved in driving various strategic initiatives as a member of the Mapon board for the past two years, and we are pleased that he will now take on the responsibilities of a CEO," says Ingus Rukis, Mapon's Chief Technology Officer. 

Mapon's Chief Financial Officer Aleksei Avanessov, who oversees the company's financial matters and acquisitions, and Edmunds Riekstins, who supervises all Draugiem Group companies, will continue to serve on the Mapon board.

Mapon Estonia and CarCops have completed the merger procedure on 27 June 2024. The changes in ownership are reflected in the Business Register. CarCops has already been operating as Mapon Estonia since June 1, 2024, but now the process is finalised from a legal perspective.

Mapon announces fixing coupon rate for a floating-rate bond effective from 30 June 2024. 

Mapon bonds with ISIN LV0000860161, coupon of 5% + 3-month EURIBOR, maturity on 8 March 2027, new coupon rate for period from 30 June 2024 until 29 September 2024 (including) is 8.698%. The coupon for this period will be paid on 30 September 2024.

Mapon has acquired 100% of the fleet management solutions company Trackon Fleet Management UAB, which will be known as Mapon Lithuania from now on. This acquisition will strengthen Mapon's position in Lithuania and the overall Baltic market, as well as significantly expand the company's client portfolio. 

Mapon expects that the combined turnover in the Lithuanian market will reach up to 1 million euros and that over 40,000 vehicles will use our fleet management solutions. Both Mapon and Trackon are committed to delivering high-quality services, ensuring efficient resource and fuel management, as well as improving road safety and promoting sustainable corporate governance.

Mapon Estonia and CarCops have initiated a merger procedure that is expected to be finalized by the end of June 2024, whereas CarCops will operate as Mapon Estonia starting from 01.06.2024. 

From an organizational point of view, both companies have been working as one team in a shared office space since mid-2023. This step is required to combine the teams from a legal perspective.