Afarak Group Plc A Petition To The Finnish Financial Supervision Authority To Obligate To Launch A Mandatory Takeover Bid Reg...

 
TIDMAFAGR 
 
 
   15:30 London, 17:30 Helsinki, 19 September 2017 - Afarak Group Plc 
("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR) 
 
   A PETITION TO THE FINNISH FINANCIAL SUPERVISION AUTHORITY TO OBLIGATE TO 
LAUNCH A MANDATORY TAKEOVER BID REGARDING THE SHARES OF AFARAK GROUP PLC 
 
   The Company has learnt that a minority group of shareholders, (Joensuun 
Kauppa ja Kone Oy, Markku Kankaala, Esa Hukkanen, Petri Suokas, Tomi 
Hyttinen, Taloustieto Incrementum Ky, Juhani Lemmetti, Kare Kakkonen, 
Antti Kivimaa, AJ Elite Value Hedge Fund, Aarne Simula ja Timo Kankaala) 
who jointly have a 10.79 per cent shareholding in Afarak Group Plc 
("Afarak Group") have filed on 18 September 2017 a joint petition to the 
Finnish Financial Supervision Authority ("FIN-FSA") and demanded the 
FIN-FSA to obligate Danko Koncar and/or Kermas Resources Limited to 
launch mandatory takeover bid regarding the shares of Afarak Group at 
least for a price of EUR 2.50 per share. The petition has been based on 
chapter 11, section 19 and chapter 11, section 20, subsections 1 and 3 
of the Finnish Securities Market Act (746/2012). 
 
   The Company notes that it is not a party to the matter. Kermas Resources 
Limited has informed the Company it denies all accusations levied by the 
petition and that it has strictly followed the rules of the Finnish 
Securities Market Act. 
 
   The trading in the Company's shares has been suspended today as at 09.47 
AM EET on the Nasdaq Helsinki by the request of the Company. 
 
   The Company is not aware how long the FIN-FSA will take to process the 
petition. 
 
   Afarak Group will not comment on the petition presented to the FIN-FSA. 
 
   AFARAK GROUP PLC 
 
   Guy Konsbruck 
 
   CEO 
 
   For additional information, please contact: 
 
   Afarak Group Plc 
 
   Guy Konsbruck, CEO, [phone], [e-mail] 
 
   Jean Paul Fabri, PR Manager, [phone], [e-mail] 
 
   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 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Afarak Group via Globenewswire 
 
 
  http://www.afarakgroup.com 
 

(END) Dow Jones Newswires

September 19, 2017 10:43 ET (14:43 GMT)

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