Afarak Group Plc - Annual Financial Report

AFARAK GROUP PLC'S PUBLISHES FINANCIAL STATEMENTS AND ANNUAL REPORT FOR 1 JANUARY - 31 DECEMBER 2016

07:00 London, 09:00 Helsinki, 31 March 2016 - Afarak Group Plc ("Afarak" or "the
Company") (LSE: AFRK, OMX: AFAGR) Annual Financial Report

AFARAK GROUP PLC'S PUBLISHES FINANCIAL STATEMENTS AND ANNUAL REPORT FOR
1 JANUARY - 31 DECEMBER 2016

Afarak Group plc ("Afarak" or the "Company") (LSE: AFRK, NASDAQ: AFAGR)
announces that it has published today its Annual Report for the year ended 31
December 2016 which is available from the Company's website www.afarak.com.
The  Annual Report for 2016 includes a  detailed Strategic Review which analysis
the  Company's  operational  and  financial  performance,  risk management and a
sustainability review with a focus on the initiatives undertaken with respect to
health  & safety,  host communities  and the  environment.  A  Governance Review
highlighting  the Board's work during  2016 and initiatives related to Corporate
Governance  is  also  included.   The  Annual  Report  also  includes an updated
Resources and Reserves Statement for the Company's mining assets in South Africa
following activities over the course of 2016.
Commenting  on the Annual Report, Guy Konsbruck,  CEO of Afarak, said that "This
year's  Annual  Report  highlights  the  difficulties  Afarak  faced  as well as
management's  strategy  to  safeguard  the  Company's  fundamentals.   Given the
several  headwinds we faced, we are satisfied with the results and the Company's
ability to benefit from the market upswing that started in December."
Ivan  Jakovcic, Chairman of Afarak added that,  "2016 was a challenging year for
the  Company and the Board acted decisively and in a timely manner.  As a Board,
we focused our energy on further enhancing health & safety and strengthening the
management and organisational structure.  We are confident that our efforts will
continue   creating   value   for   all   of  our  stakeholders,  including  our
shareholders."
A  copy  of  the  Annual  Report  2016 has  been  submitted to the UK's National
Storage Mechanism      and      will     shortly     be     available     for
inspection   at www.hemscott.com/nsm.do.
Afarak will hold its 2016 Annual General Meeting in Helsinki on 23 May 2017. The
notice of the meeting will be released in April 2017.

Guy Konsbruck
CEO
2017





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Attachments:

PR Annual Report 2016.pdf

AFARAK Annual Report 2016.pdf