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Thursday, 9 November 2017

AFARAK GROUP HAS RECEIVED A REQUEST TO CONVENE AN EXTRAORDINARY GENERAL MEETING

Afarak Group    

Published: 08:00 CET 09-11-2017 /GlobeNewswire /Source: Afarak Group / : AFRK /ISIN: FI0009800098

AFARAK GROUP HAS RECEIVED A REQUEST TO CONVENE AN EXTRAORDINARY GENERAL MEETING

07:00 London, 09:00 Helsinki, 09 November 2017 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

 

AFARAK GROUP HAS RECEIVED A REQUEST TO CONVENE AN EXTRAORDINARY GENERAL MEETING

 

Afarak Group has received a request on the 8th November 2017 from a group of shareholders, representing 10.86% of shares and voting rights, to convene an extraordinary meeting of shareholders. The shareholders are:

 

  • Joensuun Kauppa ja Kone Oy
  • Markku Kankaala
  • Esa Hukkanen
  • Petri Suokas
  • Tomi Hyttinen
  • Taloustieto Incrementum Ky
  • Juhani Lemmetti
  • Kari Kakkonen
  • Antti Kivimaa
  • AJ Elite Value Hedge Fund
  • Aarne Simula
  • Timo Kankaala

 

The main points of the request, written originally in Finnish, are:

 

"The presenters of the request, who at the time of the request own more than one-tenth of all shares of the Company) are putting forward a request to the Board of Afarak Group Plc (hereinafter Afarak), pursuant to Chapter 5 Paragraph 4 of the Companies Act, to convene without delay and Extraordinary General Meeting of Afarak to address the following issues:

 

  1. A proposal to perform a special audit, in accordance with Chapter 7 Paragraph 7 of the Companies Act, concerning the Company's administration and accounting for the financial years January 1st to December 31st 2015, January 1st to December 31st 2016 as well as for the financial year beginning January 1st 2017 until October 31st 2017. The special audit should investigate the activity of Afarak and its administration as well as the legitimacy of the mentioned activity, in particular regarding and taking into account all business and legal actions between the Company and its main shareholder Danko Koncar and his controlled corporations and other related parties;
     
  2. Dismissal of the Board; and
     
  3. Election of a new Board, independent of the Company's main shareholder Danko Koncar and his controlled corporations."

 

The Board of Directors of Afarak Group will discuss the received letter of request in the manner provided by the Finnish Companies Act.

 

AFARAK GROUP PLC

 

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 (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Afarak Group, 30 Stratford Road Kensington, London W8 6QD, UK
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