For Investors

Mapon issued bonds in March 2024 and they were listed on Nasdaq Riga stock exchange from February 2025 to July 2026.

2026

Changes in the management board of AS Mapon | 29.06.2026

Fixing of Mapon bond coupon rate | 25.06.2026

Notice of early redemption of AS “Mapon” EUR 3,000,000 secured notes (ISIN: LV0000860161) and unrelated incident affecting the Group | 05.06.2026

On 8 March 2024 AS “Mapon” (the "Issuer") issued EUR 3,000,000 secured 3M EURIBOR + 5% notes due 8 March 2027 (ISIN: LV0000860161) (the “Notes”) under the Terms and the Conditions of the Notes (the “Terms and Conditions”) set out in the Offering Memorandum of the Issuer dated 4 March 2024.

The expressions defined in the Terms and Conditions shall, except where the context otherwise requires and save where otherwise defined herein, have the same meanings in this notice.

The Issuer hereby gives notice to the Noteholders that in accordance with Clause 12.2.1, paragraph (b), (Early redemption at the option of the Issuer (call option)) of the Terms and Conditions the Issuer will exercise its option to fully redeem the outstanding Notes on 8 July 2026 (the “Redemption Date”) at a redemption price equal to 102% of Nominal amount plus accrued and unpaid Coupon. The list of the Noteholders eligible to receive the redemption payment will be fixed at the end of the previous Business Day before the Redemption Date (i.e., 7 July 2026).

Taking into account the full redemption of the Notes, they will be delisted from First North as of the Redemption Date.

Separately and unrelated to the redemption of the Notes, the Issuer announces that one of its wholly owned subsidiaries has been the target of a fraud carried out through social engineering by external criminal actors, resulting in two outbound bank transfers to a third-party account.

Based on the investigation to date, the Issuer has found no evidence that any Group information system, email account, or customer data was compromised. The incident resulted from external social engineering and not from a breach of the Group's systems. Based on the findings available so far, the Issuer has identified no impact on customer data, customer services, or the security of its platform. The Issuer is continuing to assess the incident, including whether any data-protection notification obligations are triggered; to date it has found no evidence of unauthorized access to personal data.

The Group has taken the necessary measures to strengthen its payment approval and verification controls across the Group, initiated a recall of both transfers through its bank, requested the receiving bank to freeze the receiving account, and filed reports with law enforcement in the relevant jurisdictions.

The Issuer intends to provide a further announcement upon the occurrence of material developments that enable the assessment of the final circumstances of the fraud incident, including its financial impact on the Group.

The Issuer’s decision relating to the redemption of the Notes was taken independently of, and is not a consequence of, the fraud incident described above. The fraud incident does not affect the Issuer’s ability to meet its obligations to the Noteholders in respect of the Notes.

Mapon Group - Interim information | 20.05.2026

Mapon AS publishes the audited standalone and consolidated annual report for 2025 together with the independent auditors' report | 11.05.2026

Delay of publication of the audited consolidated annual report for 2025 | 29.04.2026

Fixing of Mapon bond coupon rate | 26.03.2026

Mapon Group - Interim information | 18.02.2026

2025

Fixing of Mapon bond coupon rate | 23.12.2026

Changes in the Management Board of AS Mapon | 12.11.2026

Mapon Group - Interim information | 11.11.2026

Europe's fleet management provider Mapon acquires Fleet DATA in Ireland | 05.11.2026

One of Northern Europe’s leading fleet management providers, the Latvian company Mapon, continues to expand its business across Europe by acquiring 100% of the shares of the Irish fleet management solutions company Envirokind Limited, known under the Fleet DATA brand.

Both Mapon and Fleet DATA offer fleet management, GPS tracking, safety cameras, and digital tachograph solutions, helping clients efficiently manage their resources, improve road safety, and promote sustainable corporate governance. With this acquisition, Mapon will expand its presence and customer base in Ireland, while also strengthening its team with experts who have extensive experience in the Irish market.

“This transaction marks an exciting new chapter in Fleet DATA’s development. Joining the Mapon team will allow us to accelerate growth, expand opportunities, and further grow our team here in Ireland. Our clients can continue to rely on the innovative fleet management solutions and support we’ve been providing since Fleet DATA was founded in Galway in 2012,” said Stephen Connell, Founder and Managing Director of Fleet DATA, who will now lead Mapon’s Irish branch.

Mapon has previously made similar acquisitions to expand its market share in Europe, acquiring companies in Estonia, Lithuania, Finland, Sweden, and Denmark.

“Fleet DATA has thirteen years of experience in the industry, so integrating their clients - and most importantly, their expertise and know-how - into Mapon will be extremely valuable for our joint future success in the Irish market. Previous acquisitions have proven that this growth strategy is effective in achieving great results,” said Mapon CEO Davis Siksnans, noting that the company already has offices in the Baltic states, Denmark, Finland, Sweden, and Spain and partner network worldwide.

“Congratulations to Mapon on entering the Irish market and expanding its operations in Western Europe. This transaction perfectly illustrates the growing two-way investment flow between Latvia and Ireland, as well as the increasingly close cooperation in the field of technology. I am proud of the success of this Latvian company and wish Mapon every success in achieving its goals in Ireland,” commented Juris Štālmeistars, Ambassador of Latvia to Ireland.

In early 2024, Mapon raised €3 million through the Nasdaq Baltic market from both private and institutional investors to finance acquisitions.

Fixing of Mapon bond coupon rate | 25.09.2026

Mapon Group - Interim information | 22.08.2026

Changes in the Management Board of AS Mapon | 26.06.2025

AS “Mapon”, registration number: 40003800531, legal address: Ojāra Vācieša iela 6B, Rīga, Latvia (the "Company") hereby informs about changes in the Management Board of the Company. It has been mutually agreed that Chief Sales Officer Andris Dzudzilo will be stepping down from his position. He has also stepped down from his position as a member of the Management Board. Its remaining members will carry out the functions of the Management Board.

The members of the Supervisory Board warmly thank Andris Dzudzilo for his contribution to the development and transformation of the Company from a Latvian-based telematics provider to a Northern European market leader over the last 15 years.

Dāvis Siksnāns, CEO of AS Mapon, Member of the Board: “We are truly grateful to Andris for his contribution to Mapon’s growth, especially in the export segment. Andris has been one of the driving forces behind Mapon’s transformation into an international player. His energy, optimism, and deep commercial acumen have left a lasting mark on the company culture and business trajectory.”

Andris Dzudzilo started his career at Mapon in 2010 as a Sales Manager and progressed to a Co-CEO from 2016 to 2024. He co-managed the Company through a period of rapid growth, scaling revenues from €3M to €17M. Andris consistently set and achieved ambitious goals - energizing those around him and leaving a powerful legacy of global ambition.

Simultaneously with this management change, Chris Simpson has been appointed as the new Chief Sales Officer and will take over the role from Andris Dzudzilo.

Chris Simpson brings over 20 years of experience in B2B sales, international business development, and leadership across the logistics, technology, and service industries. He has previously held senior positions at companies such as Paynt, Nordigen, and EveryPay, and has worked in Australia, Ireland, and the Baltic states. His addition to the Mapon leadership team will strengthen the company’s position and support its continued expansion across Europe and globally.

His addition to the Mapon leadership team will strengthen the company’s position and support its continued expansion across Europe and globally.

Mapon is one of the leading providers of fleet management and asset tracking solutions in Northern Europe. The company is trusted by over 30,000 clients and operates an extensive partner network across Europe, the United States, Latin America, Australia, and Africa. More than 200 professionals work at Mapon offices in Latvia, Lithuania, Estonia, Finland, Sweden, Denmark, and Spain. In 2024, the company’s revenue reached €19.7 million.

Fixing of Mapon bond coupon rate | 25.06.2025

Supplement to previous announcement: audited Mapon AS standalone report 2024 | 16.06.2025

Mapon Group - Interim information | 26.05.2025

Mapon AS publishes the audited consolidated annual report for 2024 together with the independent auditors' report | 30.04.2025

Fixing of Mapon bond coupon rate | 27.03.2025

Mapon acquires Swedish fleet management company Interkom AB | 10 February, 2025

Draugiem Group company Mapon expands its presence in the Nordic region by acquiring 100% of the shares in Interkom AB, a fleet management provider based in Lund, Sweden.

Mapon and Interkom AB offer fleet management and GPS tracking solutions, helping clients optimize resource management, enhance road safety, and promote sustainable corporate governance. This acquisition strengthens Mapon’s customer base in Sweden and brings in a team of seasoned professionals, enabling faster growth in the Swedish market.

"The acquisition of Interkom AB is a significant step in Mapon's growth, strengthening our position in Sweden. We continue executing our strategy by acquiring industry-relevant companies, and Interkom AB, with five years of experience in our industry, will be a valuable addition to our team. We have already established a presence in the Baltic States, Denmark, Finland, and Spain, and the Mapon team supports clients and partners worldwide every day," says Davis Siksnans, CEO of Mapon.

The acquisition serves as a key step in Mapon’s expansion in Sweden, not only by adding a new Transit.se client portfolio but also by leveraging Interkom AB’s deep expertise in the Swedish fleet management market. The company has built a solid foundation, and combined with Mapon’s resources, it will provide more comprehensive and convenient solutions for clients in Sweden.

“We’re proud of what we’ve achieved so far. Looking ahead, this deal marks the beginning of an exciting new chapter. Our experience in technology and sales, combined with Mapon’s expertise, will allow us to scale even faster,” comments Jamal Bajwa, founder of Interkom AB.

Mapon has executed other similar acquisitions to expand its market share across Europe. The company previously acquired the client portfolios of its partners Trackon and TrackingMap in Lithuania. In June 2023, it completed the acquisition of CarCops, along with its extensive client base in Estonia. Additionally, in March 2024, Mapon secured a €3 million investment from private and institutional investors to support its merger and acquisition strategy.

Mapon, a Draugiem Group company, is one of Northern Europe’s leading providers of fleet management and asset-tracking solutions. It serves over 30,000 clients and maintains a vast partner network across Europe, the US, Latin America, Australia, and Africa. The company employs more than 200 professionals across Latvia, Lithuania, Estonia, Finland, Sweden, Denmark, and Spain. The company’s turnover reached €17.3 million in 2023.

2024

Fixing of Mapon bond coupon rate | 30 December, 2024

Fixing of Mapon bond coupon rate | 1 October, 2024

Davis Siksnans appointed as CEO of Mapon | 4 September, 2024

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 merger procedure completion | 27 June, 2024

Fixing of Mapon bond coupon rate | 27 June, 2024

Trackon Fleet Management acquisition | 3 June, 2024

Mapon Estonia and CarCops merger | 28 May, 2024