Afarak Group Plc Resolutions Of Afarak Group Plc's Annual General Meeting
June 29 2021 - 8:09AM
UK Regulatory
TIDMAFAGR
13:00 London, 15:00 Helsinki, 29 June 2021 - Afarak Group Plc
("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)
RESOLUTIONS OF AFARAK GROUP PLC'S ANNUAL GENERAL MEETING
Afarak Group Plc's Annual General Meeting was held at the
Company's headquarter in Helsinki on June 29, 2021 under special
arrangements due to the COVID-19 pandemic.
The AGM adopted the financial statements and the consolidated
financial statements and discharged the members of the Board of
Directors and the CEO from liability for the financial period 2020.
The AGM resolved that no dividend would be paid for 2020. The AGM
also adopted the Remuneration Report for the Company's governing
bodies.
THE BOARD OF DIRECTORS
The AGM resolved that the Board of Directors would comprise of
three (3) members: Dr Jelena Manojlovic (UK citizen), Mr Thorstein
Abrahamsen (Norwegian citizen) and Mr Guy Konsbruck (Luxembourg
citizen) were re-elected as Board members.
The AGM resolved that the Non-executive Board Members shall be
paid EUR 3,000 per month and the Chairman of the board shall be
paid an additional EUR 1,500 per month. Non-Executive Board Members
who serve on the Board's Committees shall be paid additional EUR
1,500 per month for committee work. Those members of the Board of
Directors that are executives of the Company are not entitled to
receive any remuneration for Board membership. Board Members shall
be compensated for travel and accommodation expenses as well as
other costs directly related to Board and Committee work in
accordance with the company's travel rules.
THE AUDITOR
The AGM resolved that the Company will pay the fee to the
auditor against an invoice that is inspected by the Company and
that election of the Auditor shall be decided on separate
Extraordinal General Meeting held during 2021.
AUTHORIZATION TO THE BOARD OF DIRECTORS TO DECIDE UPON SHARE
ISSUE AND UPON ISSUING OTHER SPECIAL RIGHTS THAT ENTITLE TO
SHARES
The AGM resolved to authorize the Board of Directors to issue
shares and stock options and other special rights that entitle to
shares in one or more tranches up to a maximum of 50,000,000 new
shares or shares owned by the Company. This equates to
approximately 19.8 % of the Company's currently registered shares.
The authorization may be used among other things to raise
additional finance and enabling corporate and business acquisitions
or other arrangements and investments of business activity or for
employee incentive and commitment schemes. By virtue of the
authorization, the Board of Directors can decide both on share
issues against payment and on share issues without payment. The
payment of the subscription price can also be made with
consideration other than money. The authorization contains the
right to decide on derogating from shareholders' pre-emptive right
to share subscriptions provided that the conditions set in the
Finnish Companies' Act are fulfilled. The authorization replaces
all previous authorizations and is valid two (2) years from the
decision of the Annual General Meeting.
THE MEETING OF THE BOARD OF DIRECTORS
Following the AGM, the Board of Directors held a meeting in
which Mr Thorstein Abrahamsen was unanimously re-elected as the
Chairperson. The Board Committees and their composition are as
follows:
Audit and Risk Management Committee
Thorstein Abrahamsen, chairperson
Jelena Manojlovic
Remuneration and Nomination Committee
Jelena Manojlovic, chairperson
Thorstein Abrahamsen
Health, Safety and Sustainable Development Committee
Thorstein Abrahamsen, chairperson
Jelena Manojlovic
Guy Konsbruck
OTHER INFORMATION
Afarak Group Plc has, on 29 June 2021, a total of 252,041,814
shares and votes and the Company holds in total 6,073,991 of its
own shares in treasury.
The minutes of the Annual General Meeting will be available on
the internet at the Company's website www.afarak.com at the latest
on 13 July 2021.
IN HELSINKI, ON 29 JUNE 2021
AFARAK GROUP PLC
Guy Konsbruck
CEO
For additional information, please contact:
Guy Konsbruck, CEO, +356 2122 1566,
https://www.globenewswire.com/Tracker?data=O-s4mc1juBZ93Gyd85vofk1fgFWh4u-8j5XbwzNrycV2uyYvWK1dEgfrEOMaGmqkAzuYcz2NuPLMtqpf_j_TZuoHIe7HG646ZHKUqHkkRD45DWcIGfGWCKyHKdt_G22uYc6haUwk1Nh3DgXA5Gm64UiTpI8vbBwspan3YYhgUAjghzDO2jqk94dqc-wkJo8XFVorW582XEdweihq19IJy02Y__zjkMI1aOQ2KhneA7mHzz4rj_aivlqy0sNS7aUlSGxl9M960Aj7wacbzjyWVw==
guy.konsbruck@afarak.com
Financial reports and other investor information are available
on the Company's website:
https://www.globenewswire.com/Tracker?data=LtGsT8buB0BCCvZViHd32zRhscow6Z6sAnv7FnBuU3a1HtFOmr7I7u-Cdq8s__1n5Ih54Mt9iVjAaiVtu-v0k95XboFD2zL0jo5p9k5dytA9Xxv26E9SUodJZ8srGNj9gIZcBX1frcHl6HqrM_ofSNvmDLnPn2KBYmko_QBjPaBLYsYD-fM30Yi9zZ5u9A4e21X3HAHt4vz7iX1OUZ4jAcnzPX7IktFTxkm6Hfdld5I=
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
https://www.globenewswire.com/Tracker?data=LtGsT8buB0BCCvZViHd32xWEMdc54gd4n959JS7EJ2c5ByteDhRsCQeD5UBEL8vKl__nS3DnosVf3-ROZ5-ooJej8L3p6hka8-R9hFenXfKlnwQukwfxC0b9H4RKOYqdv9106hEw82fGKDBRGE30UXict-GCPF1ENIENoov_wczbNH-BUUGjSi3jdK9PJEGz8NYfs4kypnP56nYYdSprrq9Pt8GfP21d-pxFBSIrmro=
www.afarak.com
(END) Dow Jones Newswires
June 29, 2021 08:09 ET (12:09 GMT)
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