A PETITION TO THE FINNISH FINANCIAL SUPERVISION...

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

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Source: Afarak Group via Globenewswire