Chrome producer Afarak bows to shareholder pressure
Afarak has now said it will honour the result of a shareholder vote which could see it forced to buy back shares from investors
Company
Afarak Group PLC
LON:AFRK
Afarak Group PLC is a global vertically-integrated producer of speciality alloys with operations in South Africa, Turkey, Germany, London, Helsinki and Malta. Recognised as a critical metal producer, Afarak supplies world leading companies in a broad range of industries across the globe.
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Afarak Group to consider request to implement a tender offer to shareholders
Substantial shareholders LNS has proposed what it calls a "takeover offer" in accordance with the Finnish Securities Markets Act whereby Afarak effectively offers to buy-out its own shareholders
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Afarak boasts an attractive suite of chrome and speciality alloys assets in South Africa and Germany
Afarak has some of the lowest cost chrome projects in South Africa, and a niche speciality alloys business in Germany
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