AFARAK ANNOUNCES CHANGES IN THE MANAGEMENT AND ...

16:00 London, 18:00 Helsinki, 21 May 2015 - Afarak Group Plc, Stock Exchange Release

AFARAK ANNOUNCES CHANGES IN THE MANAGEMENT AND APPOINTS CHIEF EXECUTIVE OFFICER

The board of directors of Afarak Group Plc ("Afarak" or the "Company"), appointed on 8 May 2015, announces today changes in the Company's management structure so that its current executive management team and board member Dr Alistair Ruiters is appointed new Chief Executive Officer ("CEO") of the Company. The current CEO, Dr. Danko Koncar, will then focus on the operational matters of the Company as Business Development Director, reporting to the CEO. Dr Ruiters will continue to serve as a board member of the Company. Further, Mr Michael Lillja, currently head of marketing and a board member, will take on the responsibilities of Marketing Director while continuing as a board member. The changes have been agreed to take immediate effect.

The current executive management team is as follows
Dr. Alistair Ruiters, CEO
Dr. Danko Koncar, Business Development Director
Michael Lillja, Marketing Director

Furthermore, the board has also reviewed the composition of the board committees. The new committees are as follows:

Audit Committee
Barry Rourke, Chairman
Markku Kankaala
Ivan Jakovcic

The Nomination and Remuneration committee
Jelena Manojlovic, Chairman
Markku Kankaala
Ivan Jakovcic

The Committee for Health Safety and sustainable development
Alfredo Parodi, Chairman
Michael Lillja
Markku Kankaala


AFARAK GROUP PLC
THE BOARD OF DIRECTORS


For additional information, please contact:

Afarak Group Plc
Dr Alistair Ruiters, CEO, tel [phone] (Helsinki Office), [e-mail]

Afarak Group is a chrome mining and minerals producer focused on delivering sustainable growth with a speciality alloys business in southern Europe and a ferro alloys business in southern Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).
www.afarakgroup.com

Distribution:
NASDAQ Helsinki
London Stock Exchange
main media
www.afarakgroup.com

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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

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