Afarak Group Plc cancelled the transaction announced on July 10, 2013.
On November 8, 2013, the company announced that the transaction is expected to close by the year end 2013.
On December 13, 2013, the company announced that it will issue at a price of 0.45 per share for gross proceeds of 2,250,000. The shares represent approximately 2.01% of the current issued share capital and approximately 2.05% of the total voting rights of the company prior to the issuance of the shares. The subscription period of the transaction will commence immediately and continue till January 18, 2014. The subscription price will be paid to the company latest by January 31, 2014. Upon completion of the transaction, the total amount of shares in issue will be increased from 248,432,000 to 253,432,000 shares.
On January 20, 2014, Ruukki Group Oyj cancelled the transaction.