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HELSINKI - Afarak Group SE (LSE:AFRK, NASDAQ: AFAGR), a specialist alloy producer, held its Annual General Meeting (AGM) today, where it resolved to maintain its dividend policy and restructured its board of directors.
The AGM, which took place in Helsinki, affirmed the company’s financial statements and discharged board members and the CEO from liability for the 2024 fiscal year. In line with the previous year, Afarak announced it would not distribute dividends for 2024. However, the board has been authorized to decide on distributing up to EUR 0.005 per share from retained earnings or the reserve for invested unrestricted equity, a decision valid until the end of 2025.
The company’s governance was also a focal point, with the election of Julien Duniague as a new board member, joining re-elected members Dr. Jelena Manojlovic and Thorstein Abrahamsen. In subsequent board meetings, Abrahamsen was re-elected as Chairperson. Remuneration for the non-executive board members was set at EUR 5,000 per month, with additional compensation for committee participation and chairmanship roles.
Tietotili Audit Oy will continue as the company’s auditor, with Urpo Salo as the principal responsible auditor. Salo will also oversee sustainability reporting assurance, reflecting Afarak’s commitment to sustainable practices.
The board’s composition for its various committees was also determined, with members assigned to the Audit and Risk Management, Remuneration and Nomination, and Health, Safety, and Sustainable Development Committees.
The company, which possesses 277,041,814 shares and votes, holds 15,641,514 of its own shares in treasury. The AGM minutes will be published on Afarak’s website by June 17, 2025.
This report is based on a press release statement from Afarak Group SE.
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