Afarak Group Plc Regulatory News (AFRK)

14 Oct 2010 13:30

Ruukki Group Oyj / Directorate change 14.10.2010 14:30 Dissemination of a UK Regulatory Announcement, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.--------------------------------------------------------------------------- 13:30 London, 15:30 Helsinki, 14 October 2010 - Ruukki Group Plc, Stock ExchangeRelease NEW MANAGEMENT APPOINTMENTS Ruukki Group Plc ('Ruukki' or the 'Company') (LSE: RKKI, OMX: RUG1V) announces the resignation of Alwyn Smit as CEO and Director of the Board with immediate effect. Dr Danko Koncar, currently Executive Director: New Business Development,will also become Acting Managing Director until the appointment of a new CEO is announced. Thomas Hoyer has been appointed Chief Financial Officer, effective immediately. He will continue to be the CEO of the wood processing business. Ilona Halla, theoutgoing CFO, will manage Group Internal Audit. The Ruukki Executive Management Team will comprise: Dr Danko Koncar, Acting Managing Director, Thomas Hoyer, CFO and CEO of the Wood Processing Business, DrAlistair Ruiters, CEO, Ruukki South Africa, Stefano Bonati, CEO, RCS, Kalle Lehtonen, Head of Finance and Markus Kivimaeki, Head of Corporate Affairs. Commenting on the new management appointments, Dr Jelena Manojlovic, Chairman, said 'Alwyn has done an excellent job in restructuring Ruukki over the past couple of years. He has overseen the streamlining of the wood processing business, the diversification into the mining and minerals sector, latterly withthe offer for Chromex Mining, and the successful admittance of the Company to the premium segment of the Official List and trading on the London Stock Exchange. We wish Alwyn well in his future endeavours.' Dr Jelena Manojlovic added 'The appointment of Danko as Acting Managing Directorreflects the Company's strategic focus on growing the mining and minerals business, as evidenced by the current offer for Chromex Mining, which will secure the Company's ore supply and resources in South Africa, consolidate its position in one of the premier chromite mining regions and complete the verticalintegration of the South African business. He will be ably supported by Thomas, who has both a solid knowledge of the wood business as well as strong backgroundin finance and portfolio management.' Dr Koncar has over 20 years experience in the ferrochrome sector and, prior to joining Ruukki, is credited with transforming Samancor, the South African chromeoperations formerly owned by BHP Billiton and Anglo American, into a profitable and disciplined producer, prior to divesting his shares in late 2009. Prior to joining Ruukki in 2008, Thomas Hoyer held a number of senior managementpositions in portfolio management, private equity, finance and management, including CFO of Aldata Solution Oyj and Partner at Helsinki Capital Partners Oy. He holds a MSc in Economics. Mr Smit will join Kermas, a major shareholder in Ruukki, in 2011 as an ExecutiveDirector. RUUKKI GROUP PLC Dr Jelena Manojlovic Chairman Ruukki Group is a natural resources company, with a wood processing business in Finland and a mining and minerals business in southern Europe and South Africa. The Company is listed on NASDAQ OMX Helsinki (RUG1V) and the Main Market of the London Stock Exchange (RKKI). For additional information, please contact: Ruukki Group Plc Dr Jelena Manojlovic, Chairman: +44 20 7368 6763 www.ruukkigroup.fi Investec Bank plc Stephen Cooper: +44 20 7597 5104 Pelham Bell Pottinger Charles Vivian: +44 20 7861 3126 James MacFarlane: +44 20 7861 3864 Note to Editors: Ruukki Group Plc Board Dr Jelena Manojlovic, Chairman Dr Danko Koncar, Acting Managing Director *Dr Chris Pointon *Barry Rourke *Philip Baum *Paul Everard *Markku Kankaala * denotes independent non-executive director News Source: NASDAQ OMX 14.10.2010 DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: EnglishCompany: Ruukki Group Oyj FinlandPhone: Fax: E-mail: Internet: ISIN: FI0009800098Category Code: BOALSE Ticker: RKKISequence Number: 596Time of Receipt: Oct 14, 2010 14:30:02 End of Announcement DGAP News-Service ---------------------------------------------------------------------------

UK-Regulatory-announcement transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.