Brief: Afarak Group Resolves On Directed Share Issue

Afarak SE

18/08/2022 12:48

Aug 18 (Reuters) - Afarak Group Plc  AFAGR.HE :
    * DIRECTED SHARE ISSUE FROM AFARAK GROUP PLC
    * SHARE ISSUE IS CONNECTED TO ARRANGEMENT APPROVED BY BOD ON
AUG.
18 2022 RELATED TO PURCHASE BY AFARAK OF CERTAIN LOAN
RECEIVABLES THAT RCS TRADING CORPORATION LTD HAS FROM AFARAK'S
GROUP CO SYNERGY AFRICA LTD
    * ARRANGEMENT WILL TAKE PLACE IN ORDER TO DECREASE AMOUNT OF
AFARAK GROUP'S EXTERNAL DEBT BURDEN
    * AS CONSIDERATION FOR ARRANGEMENT, AFARAK SHALL ISSUE IN
SHARE
ISSUE TOTAL OF 13,132,477 TREASURY SHARES WITH SUBSCRIPTION
PRICE OF ABOUT EUR 0.40 PER SHARE

Source text for Eikon:  ID:nGNE66fkdc 
Further company coverage:  AFAGR.HE 

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