AFARAK GROUP: AFARAK RECEIVES DECISION FROM THE...

08:30 London, 10:30 Helsinki, 27 April 2020 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

AFARAK RECEIVES DECISION FROM THE HIGH ADMINISTRAT IVE COURT

Stock Exchange Release

The Supreme Administrative Court delivered on Friday, April 24 two decisions on the matters which are originally related to the decisions rendered by FIN-FSA. These FIN-FSA decisions have been under appeal process in the Helsinki Administrative Court as a first instance and then in the Supreme Administrative Court.

Even though the Company is not a party to these proceedings, the Company has informed the markets about these processes in its stock exchange releases dated February 22, 2018, July 7, 2018, March 1, 2019 and June 17, 2019. 

The original decisions were related to the obligation to make a public tender on all shares of Afarak Group Plc and penalty fees. The Supreme Administrative Court decided not to give rights to appeal. The decisions are now final.

As stated in the release on June 17, 2019, the Company will not comment on this matter.

Helsinki, April 27, 2020

AFARAK GROUP PLC

Board of Directors

For additional information, please contact:

Afarak Group Plc

Guy Konsbruck, CEO, [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