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APPROVAL OF AFARAK MOGALE (PTY) LTD BUSINESS RESCUE PLAN

Written by Customer Service on . Posted in Public Companies.

19:15 London, 21:15 Helsinki, 18 September 2020 – Afarak Group Plc (“Afarak” or “the Company”) (LSE: AFRK, NASDAQ: AFAGR)APPROVAL OF AFARAK MOGALE (PTY) LTD BUSINESS RESCUE PLANStock Exchange ReleaseOn Wednesday 16 September creditors of Afarak Mogale (Pty) Ltd voted unanimously in favour of the adoption of the proposed business rescue plan.The adopted restructuring plan provides for the disposal of the assets of Afarak Mogale (Pty) Ltd and for the proceeds of such disposals to be utilised in settlement of the claims of creditors.The company and its advisors will now embark on a process to invite offers for the assets.Helsinki, September 18, 2020AFARAK GROUP PLCBoard of DirectorsFor additional information, please contact:Afarak Group PlcGuy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com

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