Afarak Group Plc A Petition To The Finnish Financial Supervision Authority To Obligate To Launch A Mandatory Takeover Bid Reg...
20 September 2017 - 12:43AM
UK Regulatory
TIDMAFAGR
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, +356 2122 1566, guy.konsbruck@afarak.com
Jean Paul Fabri, PR Manager, +356 2122 1566, jp.fabri@afarak.com
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
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq 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
http://www.afarakgroup.com
(END) Dow Jones Newswires
September 19, 2017 10:43 ET (14:43 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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