Afarak Group — Major Shareholding Notification 2015

Apr 30, 2015

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)

13:00 London, 15:00 Helsinki, 30 April 2015 - 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, NASDAQ: AFAGR) has on
30 April 2015 received a flagging notification in accordance with Chapter 9,
Section 5 of the Finnish Securities Markets Act from Dr Danko Koncar regarding
the shares of Afarak.

As a result of a transaction that occurred between two controlled corporations
of Dr Danko Koncar, Kermas Limited and Kermas Resources Limited, Kermas Limited
has decreased below the threshold of 5 per cent and Kermas Resources Limited has
increased above the threshold of 25 per cent.

However, the total combined ownership of Dr Danko Koncar remains completely
unchanged.

1. Name of the target company
   Afarak Group Plc

2. Basis for the flagging obligation
   Sale of shares

3. Date when the holdings have changed
   30 April 2015

4. Holdings prior to the transaction

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

Kermas Resources 0 0 0 0
Limited

Kermas Limited 70,795,967 27.28 70,795,967 27.28

Danko Koncar 19,672 0.01 19,672 0.01

Total 70,815,639 27.28 70,815,639 27.28

1. Current holdings

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

Kermas Resources 70,795,967 27.28 70,795,967 27.28
Limited

Kermas Limited 0 0 0 0

Danko Koncar 19,672 0.01 19,672 0.01

Total 70,815,639 27.28 70,815,639 27.28

1. Name and address of the shareholder

Danko Koncar

Kermas Limited
Registration number 504889
P.O. Box 3175
3(rd) Floor
Geneva Palace
Waterfront Drive
Road Town
British Virgin Islands

Kermas Resources Limited
Registration number C 66256
Ground Floor
Europa Centre
St. Anne Street
Floariana FRN 9011
Malta

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

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
Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).
www.afarakgroup.com

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

[HUG#1917446]