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2015-08-14

Afarak Group: AFARAK BOARD RESOLUTION ON DIRECTED SHARE ISSUE

13.00 London, 15.00 Helsinki, 14 August 2015 - Afarak Group Plc, Stock
Exchange Release

AFARAK BOARD RESOLUTION ON DIRECTED SHARE ISSUE

The Board of Afarak Group Plc ("Afarak" or the "Company") (LSE: AFRK, OMX:
AFAGR) announces that it has on 14 August 2015 resolved to offer 3,478,261
new ordinary shares in the Company ("New Shares") to Gujo Investment (Pty)
Limited, one of the vendors of Mogale Alloys (a company acquired in May 2009)
under the settlement agreement announced on 11 October 2012. Following
completion of the share issue, the consideration for the acquisition will be
fully satisfied. All of the New Shares have been subscribed for and the
subscriptions have been approved by the Board of Directors. The total
subscription price of EUR 1,739,130.50 (EUR 0.5 per share) has been fully
satisfied through offset against the settlement receivables of the Vendor
related to the Mogale Alloys acquisition.

The New Shares represent approximately 1.34 per cent of the current issued
share capital and approximately 1.36 per cent of the total voting rights of
the Company prior to the share issue. The New Shares are offered in
derogation of the pre-emptive subscription right of shareholders and Board
approval of the share issue is pursuant to the authorisation granted by the
Annual General Meeting to the Board of Directors 8 May 2015. The subscription
price will be recognized under the invested unrestricted equity fund.

The New Shares are expected to be registered with the Finnish Trade Register
on 21.08.2015. Following registration an application will be made to the UK
Listing Authority and the London Stock Exchange for admission to (i) the
Official List and (ii) to trading on the London Stock Exchange's and NASDAQ
OMX Helsinki's markets. Admission is expected to take place on 24.08.2015.
The New Shares carry shareholder rights as of the registration date with the
Finnish Trade Register and will rank pari passu with the Company's existing
issued ordinary shares.

Following the issue of the New Shares, the total amount of shares in issue
will be increased by 3,478,261 from 259,562,434 to 263,040,695 ordinary
shares of no par value. 4,244,717 ordinary shares are held in treasury.

AFARAK GROUP PLC
Alistair Ruiters
CEO
For additional information, please contact:

Afarak Group Plc

Dr Alistair Ruiters, CEO, tel +358 50 372 1130 (Helsinki Office),
Alistair.ruiters@afarak.com

Afarak Group is a chrome mining and minerals producer focused on delivering
sustainable growth with a speciality alloys business in southern Europe and a
ferro alloys business in southern Africa. The Company is listed on NASDAQ
Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).
www.afarak.com
Distribution:
NASDAQ Helsinki
London Stock Exchange
main media
www.afarak.com

Terms and conditions
http://hugin.info/143997/R/1945683/705595.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Afarak Group via Globenewswire

HUG#1945683

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