Afarak Group SE (HLSE:AFAGR) signed an agreement to acquire LL-resources gmbh from LLR-Holding GmbH for approximately EUR 59.5 million on May 12, 2023. The Consideration Shares will be directed for subscription of the shareholders of LLR's shareholders. Following execution, LLR will become a fully owned subsidiary of Afarak.

Consequently, the former shareholders of LLR will hold in aggregate approximately 35 % of the total amount of shares and votes of Afarak following execution of the Transaction. The completion of the Transaction is subject to e.g: approval of the Transaction by the Shareholders of Afarak; merger control approval in Austria and Germany; Foreign Direct Investment (FDI) clearance and approval in Austria; approval of the Prospectus by the Finnish Financial Supervisory Authority for the listing of the Consideration Shares in Finland and needed approval in the U and fulfilment of other customary terms and conditions of a transaction of this type.