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2015-05-21 17:00:00 CEST 2015-05-21 17:00:32 CEST REGULATED INFORMATION Afarak Group Plc - Changes board/management/auditorsAFARAK ANNOUNCES CHANGES IN THE MANAGEMENT AND APPOINTS CHIEF EXECUTIVE OFFICER16:00 London, 18:00 Helsinki, 21 May 2015 - Afarak Group Plc, Stock Exchange Release AFARAK ANNOUNCES CHANGES IN THE MANAGEMENT AND APPOINTS CHIEF EXECUTIVE OFFICER The board of directors of Afarak Group Plc ("Afarak" or the "Company"), appointed on 8 May 2015, announces today changes in the Company's management structure so that its current executive management team and board member Dr Alistair Ruiters is appointed new Chief Executive Officer ("CEO") of the Company. The current CEO, Dr. Danko Koncar, will then focus on the operational matters of the Company as Business Development Director, reporting to the CEO. Dr Ruiters will continue to serve as a board member of the Company. Further, Mr Michael Lillja, currently head of marketing and a board member, will take on the responsibilities of Marketing Director while continuing as a board member. The changes have been agreed to take immediate effect. The current executive management team is as follows Dr. Alistair Ruiters, CEO Dr. Danko Koncar, Business Development Director Michael Lillja, Marketing Director Furthermore, the board has also reviewed the composition of the board committees. The new committees are as follows: Audit Committee Barry Rourke, Chairman Markku Kankaala Ivan Jakovcic The Nomination and Remuneration committee Jelena Manojlovic, Chairman Markku Kankaala Ivan Jakovcic The Committee for Health Safety and sustainable development Alfredo Parodi, Chairman Michael Lillja Markku Kankaala AFARAK GROUP PLC THE BOARD OF DIRECTORS For additional information, please contact: Afarak Group Plc Dr Alistair Ruiters, CEO, tel +358 50 372 1130 (Helsinki Office), aruiters@afarak.co.za 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.afarakgroup.com Distribution: NASDAQ Helsinki London Stock Exchange main media www.afarakgroup.com [HUG#1923274] |
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