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Pin to quick picksAfarak Group Regulatory News (AFRK)

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FINAL RESULT OF AFARAK GROUP PLC’S PUBLIC TENDER OFFER FOR OWN SHARES

31 Jul 2019 10:42



FINAL RESULT OF AFARAK GROUP PLC’S PUBLIC TENDER OFFER FOR OWN SHARES

Released: July 31, 2019

10:40 London, 12:00 Helsinki, 31 July 2019 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

Stock Exchange Release

FINAL RESULT OF AFARAK GROUP PLC’S PUBLIC TENDER OFFER FOR OWN SHARES

The offer period under the voluntary public tender offer (the "Offer") by Afarak Group Plc. ("Afarak" or the "Company") for its own shares ("Share") expired on July 29, 2019 at 4 p.m. (Finnish time).

According to the final result of the Offer, 56,204,012 Shares were tendered in the Offer, representing approximately 21.37 per cent of all outstanding Shares and votes of the Company.

The maximum amount of Shares (26,000,000) according to the terms of the Offer has thereby been exceeded by 30,204,012 Shares and accordingly 116.17 per cent as a result of the validly made acceptances of the Offer. Hence, the acceptances of the Offer will be scaled back in accordance with the terms of the Offer per book-entry account for the shareholders that have accepted the Offer pro rata to the number of Shares tendered by the shareholders so that the total number of Shares repurchased in the Offer does not exceed the maximum amount of Shares. The scale back will be 53,74 per cent. The accepted number of shares shall be rounded down for each book-entry account to the previous whole share.As the conditions for the completion of the Offer have been and remain satisfied the Company will complete the Offer in accordance with its terms and conditions.The sale and purchase of the Shares validly tendered in the Offer will be executed on or about August 2, 2019. The settlement will be effected on or about August 6, 2019 (the "Settlement Date"). The offer consideration will be paid on the Settlement Date in a way defined in the terms of the Offer to the shareholders who have validly accepted the Offer. All the Shares transferred in the Offer will become null and void as part of the settlement of the completion trades of the Offer, tentatively on the Settlement Date, so that the Shares will not come to the Company's possession.

As according to the terms of the Offer, all Shares transferred in the Offer will become null and void as part of the settlement of the completion trades of the Offer, no own Shares will come to the Company's possession in connection with the Offer.As a result of completing the Offer the cash balance and equity of the Company will decrease by EUR 26,388,864.22. Completing the Offer will have no effect on the guidance for result of operations concerning the year 2019 previously published by the Company.

In Helsinki, July 31, 2019Afarak Group PlcBoard of Directors

For additional information, please contact:Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com Jean Paul Fabri, PR Manager, +356 2122 1566, jp.fabri@afarak.comFinancial 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 mediawww.afarak.com

DisclaimerThis announcement is neither an offer to purchase nor a solicitation of an offer to sell shares in Afarak Group Plc (the "Shares") anywhere in the world. The final terms and further provisions of the public tender offer (the "Offer") will be disclosed in the offer document approved by the Finnish Financial Supervisory Authority. Holders of the Shares are strongly recommended to read the offer document and all announcements in connection with the Offer as they contain or will contain important information.The Offer is not being made directly or indirectly, in or into the United States or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction. The Offer is not being made by the use of the mails or any other means or instruments of interstate or foreign commerce (inter alia, transmission by fax, telephone or internet) in or into the United States, nor by the use of any facility of a national securities exchange in the United States. Accordingly, the sending or any other distribution of this announcement or any other accompanying document in or into the United States or any other jurisdiction, where to do so would constitute a violation of the laws of such jurisdiction, is prohibited.


Date   Source Headline
26th Feb 20203:51 pmGNWAFARAK GROUP: Q4 EBITDA WEAKER THAN EXPECTED
30th Jan 20203:16 pmGNWAFARAK GROUP: NOTIFICATION OF MANAGERS’ TRANSACTIONS
28th Jan 20201:50 pmGNWCHANGES REGARDING AFARAK GROUP PLC’S TREASURY SHARES
30th Dec 20194:07 pmGNWAFARAK GROUP PLC´S 2020 FINANCIAL REPORTING CALENDAR
9th Dec 20191:31 pmGNWSUBSIDIARY SECTION 189 NEGOTIATIONS
29th Nov 20191:17 pmGNWAFARAK GROUP: INTERIM REPORT Q3/2019
28th Nov 20199:05 amGNWCHANGES REGARDING AFARAK GROUP PLC’S TREASURY SHARES
11th Nov 20193:59 pmGNWCHANGES IN THE COMPOSITION OF THE BOARD OF DIRECTORS
23rd Oct 201912:38 pmGNWAFARAK GROUP PLC APPEALS THE FIN-FSA DECISION TO THE HELSINKI ADMINISTRATIVE COURT
17th Oct 20199:03 amGNWAFARAK GROUP PLC POSTPONES THE DISCLOSURE OF THE INTERIM REPORT FOR Q3/2019
24th Sep 20197:42 amGNWFIN-FSA IMPOSES A PENALTY PAYMENT FOR AFARAK
23rd Sep 20199:55 amGNWDIRECTED SHARE ISSUES FROM AFARAK GROUP PLC
26th Aug 20193:47 pmGNWCHANGES REGARDING AFARAK GROUP PLC’S SHARES AND TREASURY SHARES
23rd Aug 20194:29 pmGNWAFARAK GROUP: INTERIM REPORT Q2 2019
8th Aug 201910:32 amGNWNotification Pursuant to Chapter 9, Section 10 of the Finnish Securities Markets Act
8th Aug 201910:15 amGNWCHANGE IN THE NUMBER OF SHARES IN AFARAK GROUP PLC
7th Aug 20192:53 pmGNWQ2 EBITDA WEAKER THAN EXPECTED
31st Jul 201910:42 amGNWFINAL RESULT OF AFARAK GROUP PLC’S PUBLIC TENDER OFFER FOR OWN SHARES
30th Jul 20191:29 pmGNWPreliminary Result of Afarak Group Plc’s Public Tender Offer for Own Shares
16th Jul 201911:07 amGNWAFARAK GROUP PLC ANNOUNCES CHANGES IN IMPORTANT DATES RELATING TO THE TENDER OFFER
12th Jul 20192:44 pmGNWAFARAK GROUP PLC HAS RESOLVED TO EXTEND THE OFFER PERIOD OF THE TENDER OFFER
1st Jul 20198:51 amGNWCHANGES REGARDING AFARAK GROUP PLC’S TREASURY SHARES
28th Jun 20195:05 pmGNWSUPPLEMENT TO THE OFFER DOCUMENT BY AFARAK GROUP PLC DATED JUNE 7, 2019 REGARDING THE PUBLIC TENDER OFFER FOR OWN SHARES
28th Jun 201910:08 amGNWAFARAK GROUP PLC HAS RESOLVED TO EXTEND THE OFFER PERIOD OF THE TENDER OFFER
25th Jun 20191:50 pmGNWRESOLUTIONS OF AFARAK GROUP PLC’S ANNUAL GENERAL MEETING  
24th Jun 201911:16 amGNWSPECIFICATIONS RELATING TO THE INVITATION TO THE ANNUAL GENERAL MEETING OF AFARAK GROUP PLC REGARDING THE NUMBER OF BOARD MEMBERS, THE BOARD MEMBER CANDIDATES AND THE REMUNERATION OF THE BOARD MEMBERS
18th Jun 201912:25 pmGNWSUPPLEMENT TO THE OFFER DOCUMENT BY AFARAK GROUP PLC DATED JUNE 7, 2019 REGARDING THE PUBLIC TENDER OFFER FOR OWN SHARES
17th Jun 20191:08 pmGNWAFARAK RECEIVES DECISION FROM FIN-FSA RELATING TO DANKO KONCAR
14th Jun 20199:38 amGNWSupplement to the offer document by Afarak Group PLC dated June 7 2019 regarding the public tender offer for own shares
13th Jun 20192:31 pmGNWChanges in Production do not affect the buy-back
12th Jun 201910:12 amGNWPRODUCTION GUIDANCE & OPERATIONAL UPDATE ON FERRO-ALLOY SEGMENT
7th Jun 20193:44 pmGNWAFARAK GROUP PLC’S PUBLIC TENDER OFFER FOR OWN SHARES WILL COMMENCE ON JUNE 10, 2019. THE OFFER PRICE FOR A SHARE IS EUR 1.015
7th Jun 20192:00 pmGNWAFARAK GIVEN DECISION ON SPECIAL AUDIT
29th May 20194:22 pmGNWInvitation to the Annual General Meeting
29th May 20194:18 pmGNWRepurchase of own shares
29th May 20194:11 pmGNWAfarak secures funding for repurchase of shares
29th May 20196:51 amGNWTWO DIRECT SHARE ISSUES FROM AFARAK
20th May 20193:36 pmGNWCONVERSION OF AFARAK INTO A EUROPEAN COMPANY
17th May 201910:10 amGNWADVERSE BUSINESS CONDITIONS IMPACT PERFORMANCE
14th May 20194:13 pmGNWAFARAK GROUP: PROFIT WARNING FOR Q1 2019
7th May 20192:12 pmGNWHOLDINGS IN COMPANY (FLAGGING NOTIFICATION IN ACCORDANCE WITH CHAPTER 9, SECTION 10 OF THE FINNISH SECURITIES MARKETS ACT)
2nd May 20191:23 pmGNWAFARAK GROUP: NOTIFICATION OF MANAGERS’ TRANSACTIONS
5th Apr 20194:04 pmGNWAFARAK GROUP COMPLETES THE TRANSACTION RELATING TO SYNERGY AFRICA LTD
3rd Apr 20194:47 pmGNWAFARAK WILL ACQUIRE 49% BALANCE of SYNERGY AFRICA LTD (Joint Venture)
1st Apr 201912:52 pmGNWAFARAK PUBLISHES AUDITOR’S REPORT
29th Mar 20194:16 pmGNWAFARAK GROUP PLC'S PUBLISHES FINANCIAL STATEMENTS AND ANNUAL REPORT FOR 1 JANUARY - 31 DECEMBER 2018 
29th Mar 20193:00 pmGNWCORRECTION: UPDATE ON BUY-BACK
28th Mar 20191:00 pmGNWUPDATE ON BUY-BACK
1st Mar 201910:42 amGNWAFARAK RECEIVES DECISION FROM THE ADMINISTRATIVE COURT OF HELSINKI
22nd Feb 201911:52 amGNWFINANCIAL STATEMENTS RELEASE 2018

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