Afarak Group Plc Correction: Update On Buy-BACK
March 29 2019 - 10:00AM
UK Regulatory
TIDMAFAGR
14:45 London, 16:45 Helsinki, March 29, 2019 - Afarak Group Plc
("Afarak" or "the Company")
CORRECTION: UPDATE ON BUY-BACK
In the release published on March 28, 2019 there was some differences
between the language versions and both language versions refer to a
wrong date when they refer to Extraordinary Shareholders meeting.
The Extraordinary Shareholders Meeting was held on November 12, 2018
(not on February 12, 2019).
There were several conditions for the authorization of the Board (they
were communicated prior to the Extraordinary Shareholders meeting and
after that). It was the intention of Afarak to repeat the most important
ones in a release giving an update /summary on the process. However, the
English version contained more information than the Finnish language
version.
In the Finnish language version there should be added two additional
points (coming from original proposals and decisions) and they should
read as follows:
English version:
1. The share offer price to be paid by Afarak in the Takeover Bid shall be
EUR 1.015 per share. ("Share Offer Price"). Each shareholder of Afarak
shall also have the right not to participate in the Takeover Bid and to
continue as a shareholder in Afarak.
1. The total amount of cash consideration in the Takeover Bid to be paid by
Afarak shall be limited to EUR 28,404,000.00.
2. The payment of the Share Offer Price shall take place by the end of March
2019, if practically possible.
3. The authorisation is proposed to include the right for the Board to
decide on all other matters related to the Takeover Bid.
4. The authorisation is proposed to remain valid until 31 May 2019.
Finnish version:
1. Afarakin Ostotarjouksessa maksama hinta on 1,015 euroa per osake
("Osakkeen Myyntihinta"). Kullakin Afarakin osakkeenomistajalla on
myös oikeus olla osallistumatta Ostotarjoukseen ja jatkaa Afarakin
osakkeenomistajana.
1. Ostotarjouksessa Afarakin rahana maksaman korvauksen
yhteismäärän ylärajaksi asetetaan 28.404.000,00
euroa.
2. Tarjousvastikkeen maksun tulee tapahtua maaliskuun 2019 loppuun
mennessä, mikäli käytännössä mahdollista.
3. Valtuutuksessa annetaan hallitukselle myös oikeus
päättää kaikista muista Ostotarjoukseen
liittyvistä seikoista.
4. Valtuutuksen ehdotetaan pysyvän voimassa 31. toukokuuta 2019 asti.
The Board has authority to make a decision on the buy-back up and until
May 31, 2019.
The Board of Directors
Afarak Group
For additional information, please contact:
Guy Konsbruck, CEO, +356 2122 1566,
https://www.globenewswire.com/Tracker?data=lJrZ8GvyaL-TVHnyZmqwV4hESMzLPQ1tMf_ntCXSluOuYHO9PhfHqaxHTBRsSl9zorEFiF1hJoaL9TfWOTv1C1FJyx9t4I0Zg875ta1WQUw=
guy.konsbruck@afarak.com
Jean Paul Fabri, PR Manager, +356 2122 1566,
https://www.globenewswire.com/Tracker?data=S4WPgCDsjge78KXw_peA6bjTYogXTdStYc-mg7PRSor8YIydhT1zJ6jcAWRbndHxuPtgJSjT_pFGGvOVNT43uN2zgCD4ZhDH9SXDdlFmNHs=
jp.fabri@afarak.com
Financial reports and other investor information are available on the
Company's website:
https://www.globenewswire.com/Tracker?data=xCfARAGj_9zxOGIhkPP1ko1e_V-bovr0ufUVU6oBJKm7b6ghhj88snOwbEtFVWi0h4gpxh5_7LpzmYs6YNVYeQ==
www.afarak.com.
Afarak Group is a specialist alloy producer focused on delivering
sustainable growth with a Speciality Alloys business in southern Europe
and a FerroAlloys business in South Africa. The Company is listed on
NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange
(AFRK).
Distribution:
NASDAQ Helsinki
London Stock Exchange
Main media
https://www.globenewswire.com/Tracker?data=xCfARAGj_9zxOGIhkPP1kqV1sKdJKWVRwaIt3qxdIu35Ux4_hJiRz0IouP1-Zdo3aL4G3fkkaheN3lJYMUBkHw==
www.afarak.com
(END) Dow Jones Newswires
March 29, 2019 11:00 ET (15:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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