TIDMAFAGR 
 
 
   13:00 London, 15:00 Helsinki, 12 March 2021 - Afarak Group Plc ("Afarak" 
or "the Company") (LSE: AFRK, NASDAQ: AFAGR) 
 
   AFARAK GROUP PLC HAS RESOLVED ON A DIRECTED SHARE ISSUE 
 
   Stock Exchange Release 
 
   Afarak has resolved on a direct share issue without consideration 
("Share Issue") of total of 4,965,265 Afarak's treasury shares to its 
South African subsidiary Chromex Mining Company (Pty) Ltd ("Chromex 
SA"). 
 
   Share Issue is resolved in order to accomplish and execute ownership 
arrangement in Chromex SA that will result in additional ownership of 
mining assets in South Africa. This will benefit the Company as the 
Group's parent company. Thus, from the Company's point of view 
especially weighty financial reasons exists for the deviation from the 
shareholders' pre-emptive right. 
 
   The Share Issue take place in accordance with the decisions of the 
Afarak Board of Directors, on the basis of the authorization given by 
the Annual General Meeting of Afarak on 22 June 2020. 
 
   Due to the relevantly modest size of the transaction and the fact that 
the Company is increasing its ownership in assets that it already 
controls, the Company is not expecting the transaction to affect the 
financial performance of the Group in 2021. 
 
   Helsinki, March 12, 2021 
 
   AFARAK GROUP PLC 
 
   Board of Directors 
 
   For additional information, please contact: 
 
   Afarak Group Plc 
 
   Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com 
https://www.globenewswire.com/Tracker?data=Dn62OoHErF0ikR3yhvooRo4OpsPFAEdTUgah4yh17_7seROfVJDP4k3kqWTa5AXfqG3rDH2JQqEmtLWRSuR4mBVKE-xxU_nB1xSYhMew3myIS8Rxk_ANcGm1H4wTV2d7 
 
 
 
 
 
 
   Financial reports and other investor information are available on the 
Company's website: 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 
 
   www.afarak.com 
 
 
 
 

(END) Dow Jones Newswires

March 12, 2021 07:59 ET (12:59 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Afarak (LSE:AFRK)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Afarak Charts.
Afarak (LSE:AFRK)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Afarak Charts.