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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Afarak Group Se | LSE:AFRK | London | Ordinary Share | FI0009800098 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 20.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Offices-holdng Companies,nec | 201.34M | 47.72M | 0.1937 | 1.03 | 49.27M |
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TIDMAFAGR
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
https://www.globenewswire.com/Tracker?data=Dn62OoHErF0ikR3yhvooRo4OpsPFAEdTUgah4yh17_7seROfVJDP4k3kqWTa5AXfqG3rDH2JQqEmtLWRSuR4mBVKE-xxU_nB1xSYhMew3myIS8Rxk_ANcGm1H4wTV2d7
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
(END) Dow Jones Newswires
March 12, 2021 07:59 ET (12:59 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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