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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