AFARAK GROUP HAS RECEIVED A REQUEST TO CONVENE AN EXTRAORDINARY GENERAL MEETING
08:00 London, 10:00 Helsinki, August 24, 2018 - Afarak Group Plc ("Afarak" or "the Company")
AFARAK GROUP HAS RECEIVED A REQUEST TO CONVENE AN EXTRAORDINARY GENERAL MEETING
Afarak Group has received a request on the 23rd August 2018 from a group of shareholders, representing 11.09 % of shares and voting rights, to convene an extraordinary meeting of shareholders. The shareholders are:
•Joensuun Kauppa ja Kone Oy
•Markku Kankaala
•Esa Hukkanen
•Petri Suokas
•Tomi Hyttinen
•Taloustieto Incrementum Ky
•Juhani Lemmetti
•Kari Kakkonen
•Antti Kivimaa
•AJ Elite Value Hedge Fund
•Aarne Simula
•Timo Kankaala
The main points of the request, written originally in Finnish, are:
"The presenters of the request, who at the time of the request own more than one-tenth of all shares of the Company) are putting forward a request to the Board of Afarak Group Plc (hereinafter Afarak), pursuant to Chapter 5 Paragraph 4 of the Companies Act, to convene without delay an Extraordinary General Meeting of Afarak to address the following issues:
(1) Dismissal of the Board; and
(2) Election of a new Board, independent of the Company's main shareholder Danko Koncar and his controlled corporations."
The Board of Directors of Afarak Group will discuss the received letter of request in the manner provided by the Finnish Companies Act. According to the Companies Act, the invitation to the General Meeting in a public Company must be published within one month of the request.
Afarak Group Plc has received notifications that shareholders Atkey Ltd and LNS Ltd (formerly known with the name Kermas Resources Ltd), who hold more than 56 % of the shares and voting rights, will vote against the presented proposals.
The Board of Directors
Afarak Group
For additional information, please contact:
Guy Konsbruck, CEO, ,
Jean Paul Fabri, ,
Financial reports and other investor information are available on the Company's website: .
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
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