RESOLUTIONS OF AFARAK GROUP SE'S ANNUAL GENERAL MEETING
11:45 London, 13:45 Helsinki, 3 June 2025 - Afarak Group SE ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)
RESOLUTIONS OF AFARAK GROUP SE'S ANNUAL GENERAL MEETING
Afarak Group SE's Annual General Meeting was held in Helsinki on 3 June 2025.
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 2024.
The AGM resolved that no dividend would be paid for 2024. The AGM authorized the Board of Directors to resolve in its discretion on the distribution of an aggregate maximum of EUR 0.005 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity. The authorization is valid until 31 December 2025. The Board will make separate resolutions on the amount and timing of distribution of the dividend and/or assets from the reserve for invested unrestricted equity. The Company shall make a separate announcement of such Board resolution. The AGM also adopted the Remuneration Report for the Company's governing bodies.
THE BOARD OF DIRECTORSThe AGM resolved that the Board of Directors would comprise of three (3) members: Dr Jelena Manojlovic (UK citizen) and Mr. Thorstein Abrahamsen (Norwegian citizen) were re-elected as Board members and Mr. Julien Duniague (Swiss citizen) was elected as a new Board member.
The AGM resolved that the Non-executive Board Members shall be paid EUR 5,000 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 AUDITORThe AGM resolved that the Company will pay the fee to the auditor against an invoice that is inspected by the Company and that according to the recommendation by the Audit Committee, the Authorised Public Accountant Tietotili Audit Oy was re-elected as the Auditor of the Company. Tietotili Audit Oy has informed the Company that the individual with the principal responsibility at Tietotili Audit Oy, is Authorised Public Accountant Urpo Salo.
THE SUSTAINABILITY REPORTING ASSURERThe AGM resolved that the Company will pay the fee to the sustainability reporting assurer against an invoice that is inspected by the Company and that according to the recommendation by the Audit Committee, Authorized Sustainability Audit Firm Tietotili Audit Oy was elected as the sustainability reporting assurer of the Company. Tietotili Audit Oy has informed the Company that the sustainability reporting assurer with the main responsibility would be authorized sustainability auditor Urpo Salo.
THE MEETING OF THE BOARD OF DIRECTORSFollowing 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 CommitteeJulien Duniague, chairpersonJelena ManojlovicThorstein Abrahamsen
Remuneration and Nomination CommitteeJelena Manojlovic, chairpersonThorstein AbrahamsenJulien Duniague
Health, Safety and Sustainable Development CommitteeThorstein Abrahamsen, chairpersonJelena ManojlovicJulien Duniague Guy Konsbruck Stefano BonatiKylie Gauci
OTHER INFORMATIONAfarak Group SE has, on 3 June 2025, a total of 277,041,814 shares and votes and the Company holds in total 15,641,514 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 17 June 2025.
IN HELSINKI, ON 3 JUNE 2025
AFARAK GROUP SEGuy KonsbruckCEO
For additional information, please contact:
Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com
Financial reports and other investor information are available on the Company's website: 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).
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