Afarak Group — Major Shareholding Notification 2014

Jul 25, 2014

HOLDINGS IN COMPANY (FLAGGING NOTIFICATION IN ACCORDANCE WITH CHAPTER 9, SECTION 10 OF THE FINNISH SECURITIES MARKETS ACT)

HOLDINGS IN COMPANY (FLAGGING NOTIFICATION IN ACCORDANCE WITH CHAPTER 9, SECTION 10 OF THE FINNISH SECURITIES MARKETS ACT)

13:30 London, 15:30 Helsinki, 25 July 2014 - Afarak Group Plc, Stock Exchange
Release

HOLDINGS IN COMPANY (FLAGGING NOTIFICATION IN ACCORDANCE WITH CHAPTER 9, SECTION
10 OF THE FINNISH SECURITIES MARKETS ACT)

Afarak Group Plc ("Afarak" or the "Company") (LSE: AFRK, OMX: AFAGR) has on 25
July 2014 received a flagging notification in accordance with Chapter 9, Section
5 of the Finnish Securities Markets Act from Ms Aida Djakov regarding the shares
of Afarak.

As a result of the increase in the total number of shares in Afarak, due to the
directed share issue, announced on 18 July, the ownership percentage of Atkey
Limited ("Atkey"), a controlled corporation of Ms Djakov, has decreased below
20 per cent. According to the flagging notification, Atkey currently holds
19.81 per cent of the shares and voting rights in Afarak.

1. Name of the target company
   Afarak Group Plc

2. Basis for the flagging obligation
   Increase in the total number of shares of Afarak due to a directed share issue

3. Date when the total number of Afarak shares increased
   24 July 2014

4. Holdings prior to the directed share issue

Number of shares % of shares Number of voting % of voting
rights rights

Atkey Limited 51,426,401 20.70 51,426,401 20.70

Aida Djakov 17,100,300 6.88 17,100,300 6.88

Total 68,526,701 27.58 68,526,701 27.58

1. Current holdings

Number of shares % of shares Number of voting % of voting
rights rights

Atkey Limited 51,426,401 19.81 51,426,401 19.81

Aida Djakov 17,100,300 6.58 17,100,300 6.58

Total 68,526,701 26.4 68,526,701 26.4

1. Name and address of the shareholder
   Atkey Limited
   P.O. Box 3175
   Road Town
   Tortula
   British Virgin Isles

AFARAK GROUP PLC
Danko Koncar
CEO

For additional information, please contact:

Afarak Group Plc
Danko Koncar, CEO, +44 (0)20 7376 1175, danko.konchar@afarak.com

Investec Bank Plc
Jeremy Wrathall, +44 (0)20 7597 5970

Afarak Group is a chrome mining and minerals producer focused on delivering
sustainable growth with a speciality alloys business in southern Europe and a
ferro alloys business in southern Africa. The Company is listed on NASDAQ OMX
Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).
www.afarakgroup.com

Distribution:
NASDAQ OMX Helsinki
London Stock Exchange
main media
www.afarakgroup.com

[HUG#1838592]