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Afarak Group
Share Issue/Capital Change • Sep 23, 2019
3302_rns_2019-09-23_682fc2d8-9d62-4d96-b8f8-48bfdc16cfd2.html
Share Issue/Capital Change
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Released: September 23, 2019
09:30 London, 11:30 Helsinki, 23 September 2019 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)
DIRECTED SHARE ISSUES FROM AFARAK GROUP PLC
Stock Exchange Release
Afarak Group Plc ("Afarak" or the "Company") has resolved on directed share issues (“Share Issues”) to certain South African suppliers.
The Share Issues 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 25 June 2019, in deviation from the shareholders’ pre-emptive subscription right.
The Share Issues provide significant benefits to Afarak Group as a whole as well to the shareholders of Afarak. The group will further improve its trading relationships with the relevant suppliers and the transaction represents a very efficient means of conserving cash resources.
As consideration for the Arrangements, Afarak shall issue in the Share Issues total of 1,324,895 treasury shares for a total consideration of Euros 794,937.00
After the execution of the Share Issues 13,677,599 treasury shares shall remain in the possession of Afarak.
Helsinki, September 23, 2019
Afarak Group Plc
Board of Directors
For additional information, please contact:
Guy Konsbruck, CEO, +356 2122 1566, [email protected]
Stefano Bonati, Company secretary, +356 2122 1566, [email protected]
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
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