HELSINKI - Afarak Group SE (LSE: AFRK, NASDAQ: AFAGR), a specialist alloy producer, has announced a special shareholder meeting scheduled for January 29, 2025, to discuss significant capital restructuring. The meeting will take place at Union Square Auditorium in Helsinki, starting at 10:00 Finnish time.
Key items on the agenda include a proposed reduction of the company's share capital from €23,642,049.60 to €1,000,000.00. The reduction of €22,642,049.60 will be transferred to the company’s invested unrestricted equity fund, contingent upon completion of a creditor protection procedure as per Chapter 14 of the Finnish Companies Act.
The board also proposes to decrease the company’s share premium account by transferring €25,223,189.79 to the invested unrestricted equity fund. This measure is aimed at achieving a more flexible capital structure, enabling more efficient use of the company’s funds. The share premium account reduction will not affect the number of shares, shareholder rights, or relative ownership percentages and is subject to the same creditor protection procedure.
Shareholders have the option to vote in advance on certain items of the agenda from January 2, 2025, until January 19, 2025. Detailed instructions for the advance voting process are provided in the notice of the meeting.
The documents related to the extraordinary general meeting, including the board's proposals, are available on Afarak's website. The minutes of the meeting will be available on the website by February 12, 2025.
To participate in the meeting, shareholders must be registered in the company's shareholder register held by Euroclear Finland Ltd by January 17, 2025. Instructions for registration and voting are outlined in the meeting notice.
This announcement is based on a press release statement from Afarak Group SE.
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