Afarak Group Plc
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
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
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About Globenewswire
Subscribe to releases from Globenewswire
Subscribe to all the latest releases from Globenewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Globenewswire
Fynske Bank A/S4.7.2025 19:50:00 CEST | Pressemeddelelse
Fynske Bank og Nordfyns Bank indgår ny aftale om fusion med forhøjet fusionsvederlag
Nordfyns Bank A/S4.7.2025 19:50:00 CEST | Pressemeddelelse
Fynske Bank og Nordfyns Bank indgår ny aftale om fusion med forhøjet fusionsvederlag
Schweiter Technologies4.7.2025 18:00:00 CEST | Press release
INVITATION TO THE MEDIA & ANALYST WEBCAST
Siili Solutions Oyj4.7.2025 17:30:00 CEST | Press release
Siili Solutions Plc: Share Repurchase 4.7.2025
Tryg A/S4.7.2025 16:23:51 CEST | Press release
Correction: Consensus estimates on Tryg A/S
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom