Afarak Group Plc Correction: Update On Buy-BACK

 
TIDMAFAGR 
 
 
   14:45 London, 16:45 Helsinki, March 29, 2019 - Afarak Group Plc 
("Afarak" or "the Company") 
 
   CORRECTION: UPDATE ON BUY-BACK 
 
   In the release published on March 28, 2019 there was some differences 
between the language versions and both language versions refer to a 
wrong date when they refer to Extraordinary Shareholders meeting. 
 
   The Extraordinary Shareholders Meeting was held on November 12, 2018 
(not on February 12, 2019). 
 
   There were several conditions for the authorization of the Board (they 
were communicated prior to the Extraordinary Shareholders meeting and 
after that). It was the intention of Afarak to repeat the most important 
ones in a release giving an update /summary on the process. However, the 
English version contained more information than the Finnish language 
version. 
 
   In the Finnish language version there should be added two additional 
points (coming from original proposals and decisions) and they should 
read as follows: 
 
   English version: 
 
 
   1. The share offer price to be paid by Afarak in the Takeover Bid shall be 
      EUR 1.015 per share. ("Share Offer Price"). Each shareholder of Afarak 
      shall also have the right not to participate in the Takeover Bid and to 
      continue as a shareholder in Afarak. 
 
 
   1. The total amount of cash consideration in the Takeover Bid to be paid by 
      Afarak shall be limited to EUR 28,404,000.00. 
 
   2. The payment of the Share Offer Price shall take place by the end of March 
      2019, if practically possible. 
 
   3. The authorisation is proposed to include the right for the Board to 
      decide on all other matters related to the Takeover Bid. 
 
   4. The authorisation is proposed to remain valid until 31 May 2019. 
 
 
   Finnish version: 
 
 
   1.  Afarakin Ostotarjouksessa maksama hinta on 1,015 euroa per osake 
      ("Osakkeen Myyntihinta"). Kullakin Afarakin osakkeenomistajalla on 
      myös oikeus olla osallistumatta Ostotarjoukseen ja jatkaa Afarakin 
      osakkeenomistajana. 
 
 
   1. Ostotarjouksessa Afarakin rahana maksaman korvauksen 
      yhteismäärän ylärajaksi asetetaan 28.404.000,00 
      euroa. 
 
   2. Tarjousvastikkeen maksun tulee tapahtua maaliskuun 2019 loppuun 
      mennessä, mikäli käytännössä mahdollista. 
 
   3. Valtuutuksessa annetaan hallitukselle myös oikeus 
      päättää kaikista muista Ostotarjoukseen 
      liittyvistä seikoista. 
 
   4. Valtuutuksen ehdotetaan pysyvän voimassa 31. toukokuuta 2019 asti. 
 
 
   The Board has authority to make a decision on the buy-back up and until 
May 31, 2019. 
 
   The Board of Directors 
 
   Afarak Group 
 
   For additional information, please contact: 
 
   Guy Konsbruck, CEO, [phone], 
https://www.globenewswire.com/Tracker?data=lJrZ8GvyaL-TVHnyZmqwV4hESMzLPQ1tMf_ntCXSluOuYHO9PhfHqaxHTBRsSl9zorEFiF1hJoaL9TfWOTv1C1FJyx9t4I0Zg875ta1WQUw= 
[e-mail] 
 
   Jean Paul Fabri, PR Manager, [phone], 
https://www.globenewswire.com/Tracker?data=S4WPgCDsjge78KXw_peA6bjTYogXTdStYc-mg7PRSor8YIydhT1zJ6jcAWRbndHxuPtgJSjT_pFGGvOVNT43uN2zgCD4ZhDH9SXDdlFmNHs= 
[e-mail] 
 
   Financial reports and other investor information are available on the 
Company's website: 
https://www.globenewswire.com/Tracker?data=xCfARAGj_9zxOGIhkPP1ko1e_V-bovr0ufUVU6oBJKm7b6ghhj88snOwbEtFVWi0h4gpxh5_7LpzmYs6YNVYeQ== 
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 
 
   https://www.globenewswire.com/Tracker?data=xCfARAGj_9zxOGIhkPP1kqV1sKdJKWVRwaIt3qxdIu35Ux4_hJiRz0IouP1-Zdo3aL4G3fkkaheN3lJYMUBkHw== 
www.afarak.com 
 
 
 
 

(END) Dow Jones Newswires

March 29, 2019 11:00 ET (15:00 GMT)

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