Notification Pursuant to Chapter 9, Section 10 of the Finnish Securities Markets Act
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Released: August 8, 2019
10:30 London, 12:30 Helsinki, 8 August 2019 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)
NOTIFICATION PURSUANT TO CHAPTER 9, SECTION 10 OF THE FINNISH SECURITIES MARKETS ACT
Stock Exchange Release
Afarak Group Plc (“Afarak” or “Company”) received on 7 August 2019 from Joensuun Kauppa ja Kone Oy, Esa Hukkanen, Markku Kankaala, Kari Kakkonen, Timo Kankaala, Juhani Lemmetti, Antti Kivimaa, Juha Halttunen, AJ Elite Value Hedge and Veikko Karhulahti (together the “Flagging Notifies”) a flagging notification pursuant to Chapter 9, Section 5 and Section 6 of the Finnish Securities Markets Act, according to which the Flagging Notifiers aggregate portion of the Company’s shares and votes has gone below the threshold of 10 per cent. According to the notification the Flagging Notifies have agreed to use the voting rights of Afarak together in consensus.
According to the notification, the Flagging Notifies holds together 13,768,809 shares in Afarak, which corresponds to approximately 5.81 % of the shares and voting rights in Afarak as a result of the transaction that was executed on 2 August 2019 whereby Afarak purchased its own shares.
Amounts of persons subject to the notification:
| % shares and voting rights | % of shares and voting rights through financial instruments | % of total | |
| Resulting situation on the date on which threshold was crossed or reached | 5.81 | 0 | 5.81 |
| Position of previous notification (if applicable) | 10.01 | 0 | 10.01 |
Information on amounts regarding shareholding and voting rights following when the threshold was crossed:
A: Shares and voting rights:
| Class/type of shares | Number of shares and voting rights | % of shares and voting rights | ||
| Direct (SMA 9:5) | Indirect (SMA 9:6 and 9:7) | Direct (SMA 9:5) | Indirect (SMA 9:6 and 9:7) | |
| FI0009800098 | 13 768 809 | 0 | 5.81 | 0 |
| SUBTOTAL A | 13 768 809 | 5.81 | ||
B: Financial instruments referred to in SMA Chapter 9 Section 6 a:
| Type of financial instrument | Expiration date | Exercise/ Conversion Period | Physical or cash settlement | Number of shares and voting rights | % of shares and voting rights |
| N/A | N/A | N/A | N/A | N/A | N/A |
| SUBTOTAL B | N/A | N/A | |||
Information about the Flagging Notifies:
| Name | % of shares and voting rights | % of shares and voting rights through financial instruments | Shares, votes and financial instruments in total |
| Joensuun Kauppa ja Kone Oy | 2.89% | 0 | 2.89% |
| Esa Hukkanen | 0.79% | 0 | 0.79% |
| Markku Kankaala | 1.51% | 0 | 1.51% |
| Kari Kakkonen | 0.22% | 0 | 0.22% |
| Timo Kankaala | 0.02% | 0 | 0.02% |
| Juhani Lemmetti | 0.17% | 0 | 0.17% |
| Antti Kivimaa | 0.07% | 0 | 0.07% |
| Juha Halttunen | 0.02% | 0 | 0.02% |
| AJ Elite Value Hedge | 0.09% | 0 | 0.09% |
| Veikko Karhulahti | 0.02% | 0 | 0.02% |
In Helsinki, August 8, 2019
Afarak Group Plc
Board of Directors
For additional information, please contact:
Guy Konsbruck, CEO, +356 2122 1566, [email protected]
Jean Paul Fabri, PR Manager, +356 2122 1566, [email protected]
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
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