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FIN-FSA IMPOSES A PENALTY PAYMENT FOR AFARAK

FIN-FSA IMPOSES A PENALTY PAYMENT FOR AFARAK

07:30 London, 09:30 Helsinki, 24 September 2019 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

FIN-FSA IMPOSES A PENALTY PAYMENT FOR AFARAK

FIN-FSA imposes penalty payment of EUR 1 450 000 on Afarak Group Plc for failures relating to disclosure of inside information and maintenance of insider lists

The Financial Supervisory Authority (FIN-FSA) has imposed a penalty payment in the amount of EUR 1 450 000 on Afarak Group Plc as, according to the FIN-FSA, in December 2017 AFARAK failed  to comply with obligations laid down in the Market Abuse Regulation (MAR) regarding disclosure of inside information (Article 17) and drawing up of an insider list (Article 18).


This decision on a penalty payment is not yet legally binding. The company has the right to appeal the decision of 23.9.2019 to the Helsinki Administrative Court within 30 days of receipt of notice of the decision.


The board of directors will study the FIN-FSA decision carefully and reflect about the appropriate legal actions. The company will update the market in due course about its next steps.


Helsinki, September 24, 2019


Afarak Group Plc


Board of Directors


For additional information, please contact:


Guy Konsbruck, CEO, +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

Quick facts: Afarak Group PLC

Price: 37.5

Market: LSE
Market Cap: £88.89 m
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