Brief: Afarak Group Sells Ilitha Mine Assets

Afarak SE

31/05/2021 08:11

May 31 (Reuters) - Afarak Group Plc  AFAGR.HE :
    * REG-AFARAK GROUP SELLS ILITHA MINE ASSETS
    * REG-AFARAK GROUP SELLS ILITHA MINE ASSETS
    * BUYERS ARE WMA CHROME MINING PROPERTY LIMITED AND WMA
MINMET
PROCESSING PROPRIETARY LIMITED ( "ARRANGEMENT").
    * TOTAL PURCHASE PRICE OF 400 MILLION ZAR (AROUND 23.8
MILLION
EURO) WILL BE PAID IN 3 PORTIONS
    * ARRANGEMENT WILL HAVE A CLEAR POSITIVE EFFECT ON GROUP'S
FINANCIAL RESULT IN 2021 AND WILL CONTRIBUTE TO FACILITATING
WORKING CAPITAL MANAGEMENT.
    * ARRANGEMENT WILL HAVE A CLEAR POSITIVE EFFECT ON GROUP'S
FINANCIAL RESULT IN 2021 AND WILL CONTRIBUTE TO FACILITATING
WORKING CAPITAL MANAGEMENT.

Source text for Eikon:  ID:nGNE2ZgHJf 
Further company coverage:  AFAGR.HE 

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