Afarak Group Plc Afarak Group: Supplementary Information On Mogale Voluntary Business Rescue

 
TIDMAFAGR 
 
 
   06:15 London, 08:15 Helsinki, 11 May 2020 - Afarak Group Plc ("Afarak" 
or "the Company") (LSE: AFRK, NASDAQ: AFAGR) 
 
   SUPPLEMENTARY INFORMATION ON MOGALE VOLUNTARY BUSINESS RESCUE 
 
   Stock Exchange Release 
 
   As announced on May 8th, 2020 Afarak Mogale (Pty) Ltd and Afarak South 
Africa (Pty) Ltd have been placed into voluntary business rescue arising 
from these companies being in financial distress and that the boards of 
directors being of the view that there is a reasonable prospect of 
rescuing both and Afarak Mogale (Pty) Ltd and Afarak South Africa (Pty) 
Ltd. 
 
   Afarak South Africa (Pty) Ltd is the holding company of Afarak Mogale 
(Pty) Ltd. 
 
   Afarak Mogale (Pty) Ltd and Afarak South Africa (Pty) Ltd being placed 
into business rescue does not and will not affect the remaining mining 
assets and businesses held by the Afarak Group. 
 
   It is envisaged that Afarak Mogale (Pty) Ltd and Afarak South Africa 
(Pty) Ltd will continue operating during the business rescue and furnace 
P1 is expected to be back in production as of Mid-May 2020. 
 
   The company will update all stakeholders on the progress. 
 
   Helsinki, May 11, 2020 
 
   AFARAK GROUP PLC 
 
 
 
 
 
   Board of Directors 
 
   For additional information, please contact: 
 
   Afarak Group Plc 
 
   Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com 
https://www.globenewswire.com/Tracker?data=PTrh9Ks2CFNpKA72frKAb9lOy7hwG6mF9jHG4iWi89iyWBD5Hn2iaLVwh62r6q32u1Q_KioWdPOGcPqS9XzWSDiYYpJcl0nDAvPbDAToCDYTaVOL_yYCQwIrPkW860R3 
 
 
 
 
 
 
   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

(END) Dow Jones Newswires

May 11, 2020 01:14 ET (05:14 GMT)

Afarak (LSE:AFRK)
Historical Stock Chart
From Apr 2024 to May 2024