APPROVAL OF AFARAK MOGALE (PTY) LTD BUSINESS RE...

19:15 London, 21:15 Helsinki, 18 September 2020 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

APPROVAL OF AFARAK MOGALE (PTY) LTD BUSINESS RESCUE PLAN

Stock Exchange Release

On Wednesday 16 September creditors of Afarak Mogale (Pty) Ltd voted unanimously in favour of the adoption of the proposed business rescue plan.

The adopted restructuring plan provides for the disposal of the assets of Afarak Mogale (Pty) Ltd and for the proceeds of such disposals to be utilised in settlement of the claims of creditors.

The company and its advisors will now embark on a process to invite offers for the assets.

Helsinki, September 18, 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