Afarak Group Plc - Changes board/management/auditors

AFARAK GROUP ANNOUNCES NEW EXECUTIVE MANAGEMENT APPOINTMENTS

          AFARAK GROUP ANNOUNCES NEW EXECUTIVE MANAGEMENT APPOINTMENTS

 07:00 London, 09:00 Helsinki, 09 December 2016 - Afarak Group Plc ("Afarak" or
"the Company")



Afarak  Group is pleased to announce the  appointment of Mr Guy Konsbruck as the
new CEO following the resignation of Dr Alistair Ruiters.

Dr  Ruiters will  continue serving  the company  as Executive Director and Board
member.   Following the resignation of Mr Keith Scott from the Board, Dr Ruiters
was also appointed as Chairman of the Safety, Health and Environment Committee.

The Board also appointed Mr Predrag Kovacevic as CFO.

Mr  Ivan Jakovcic,  Chairman of  Afarak Group,  stated, "Afarak  is continuously
strengthening  its capacity and structures.  Mr Konsbruck and Mr Kovacevic bring
a wealth of international experience to Afarak and will continue building on the
work undertaken by Dr Ruiters."



Guy Konsbruck

Guy Konsbruck previously served as an Executive Vice-President of MFC Industrial
since  2014.  Before that he served as CEO of FESIL's global sales companies and
was  also  the  co-founder  of  Luxalloys.   Mr  Konsbruck holds an MBA from SHU
Fairfield and is a graduate of the Unversité de Strasbourg II



Predrag Kovacevic

Predrag Kovacevic is a corporate finance, capital markets and financial industry
professional with 17 years of broad international experience. Having held senior
advisory  and  leadership  positions  in  both  government and private sector he
joined  Afarak  at  the  beginning  of  2016 working  on  finance  and  business
development.


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Priedai:

PR MANAGEMENT CHANGES.pdf