Published: 2010-11-09 08:30:00 CET
Afarak Group Plc
Tender offer
LEVEL OF ACCEPTANCES AND EXTENSION OF THE OFFER AND THE WARRANT OFFER
07:30 London, 09:30 Helsinki, 9 November 2010 - Ruukki Group Plc, Stock
Exchange
Release                                                              
          

LEVEL OF ACCEPTANCES AND EXTENSION OF THE OFFER AND THE WARRANT
OFFER           

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, IN WHOLE OR  
IN PART, IN OR INTO OR FROM THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN OR ANY
OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT  
LAWS OF SUCH JURISDICTION            
                                          

9 November 2010                  
                                              

Embargoed for release at 7.00
a.m.                                              


 Recommended Cash Offer
by Synergy Africa Limited (“Synergy Africa”) (a company 
51 per cent. owned by
Ruukki Group Plc and 49 per cent. owned by Kermas Limited)
for the entire
issued and to be issued ordinary share capital of Chromex Mining 
            
                   plc (“Chromex”)                                 

Level of
acceptances and extension of the Offer and the Warrant Offer           

On
30 September 2010, the boards of Ruukki, Kermas and Chromex announced that  

they had reached agreement on the terms of a recommended cash offer for the  
  
entire issued and to be issued share capital of Chromex. The terms of, and 
    
conditions to, the Offer were set out in the Offer Document posted to
Chromex   
Shareholders on 18 October 2010.                                   
            

As at 1.00 p.m. (London time) on 8 November 2010, being the
First Closing Date  
of the Offer, Synergy Africa had received valid
acceptances in respect of       
74,667,251 Chromex Shares, representing
approximately 83.74 per cent. of the    
current issued share capital of
Chromex.                                        

This total includes
acceptances received in respect of 46,025,000 Chromex       
Shares,
representing in aggregate approximately 51.6 per cent. of the issued    
share
capital of Chromex, which were subject to irrevocable undertakings       

obtained by Synergy Africa from certain Chromex Shareholders.                
  

As at 1.00 p.m. (London time) on 8 November 2010, being the First Closing
Date  
of the Warrant Offer, Synergy Africa had received valid acceptances in
respect  
of 2,470,781 Chromex Warrants, representing approximately 92.20 per
cent. of the
total number of Chromex Warrants in issue.                       
              

The Offer and the Warrant Offer, which remain subject to the
terms and the      
conditions set out or referred to in the Offer Document
posted to Chromex       
Shareholders on 18 October 2010, are extended to, and
will remain open for      
acceptance until, 1.00 p.m. on 29 November 2010
(the "Second Closing Date").    

Procedure for acceptance of the Offer and
the Warrant Offer                     
                                       
                                        
To accept the Offer in respect of
Chromex Shares held in certificated form      
and/or the Warrant Offer in
respect of Chromex Warrants held in certificated    
form, Chromex
Shareholders and Chromex Warrantholders should complete, sign and 
return the
Offer Form of Acceptance and/or the Warrant Offer Form of Acceptance 
(as
applicable), together with their share certificate(s) and/or warrant       

certificates (as applicable), in accordance with the instructions contained  
  
therein and set out in the Offer Document, to Capita Registrars at
Corporate    
Actions, The Registry, 34 Beckenham Road, Kent BR3 4TU, as soon
as possible, but
in any event so as to arrive not later than 1.00 p.m. (London
time) on 29       
November 2010.                                             
                    

To accept the Offer in respect of Chromex Shares held
in CREST, and the Warrant 
Offer in respect of Chromex Warrants held in CREST,
Chromex Shareholders and    
Warrantholders should follow the procedure for
electronic acceptance through    
CREST in accordance with the instructions
set out in the Offer Document so that 
the TTE Instruction settles as soon as
possible and, in any event, not later    
than 1.00 p.m. on 29 November 2010. 
                                           

If you have any questions on the
completion of the Form(s) of Acceptance or wish
to receive additional Form(s)
of Acceptance, please telephone Capita Registrars 
on 0871 664 0321 from
within the United Kingdom or on + 44 20 8639 3399 if      
calling from
outside the United Kingdom. This helpline is available from 9.00   
a.m. to
5.00 p.m. (London time) Monday to Friday (except UK public holidays).   
Calls
to the 0871 664 0321 number cost 10 pence per minute (including VAT) plus

your service provider's network extras. Calls to the helpline from outside
the  
United Kingdom will be charged at applicable international rates.
Different     
charges may apply to calls from mobile telephones and calls may
be recorded and 
randomly monitored for security and training purposes. The
helpline cannot      
provide advice on the merits of the Offer or the Warrant
Offer or give any      
financial, legal or tax advice.                       
                         

Further Information                               
                             

Copies of the Offer Document, the Offer Form
of Acceptance and the Warrant Offer
Form of Acceptance are available (during
normal business hours) from Capita     
Registrars, Corporate Actions, The
Registry, 34 Beckenham Road, Kent BR3 4TU.   

Copies of the Offer Document,
the information incorporated by reference into it,
the Offer Form of
Acceptance and the Warrant Offer Form of Acceptance are       
available at
the offices of Herbert Smith LLP, Exchange House, Primrose Street, 
London
EC2A 2HS, during usual business hours on any weekday (Saturdays and     

public holiday excepted) and on Ruukki's website at
http://www.ruukkigroup.fi,  
subject to certain restrictions relating to
persons resident in the United      
States, Australia, Canada and Japan.     
                                      

Copies of all announcements made by
Synergy Africa, including this announcement 
are available on Ruukki's website
at http://www.ruukkigroup.fi, subject to      
certain restrictions relating
to persons resident in the United States,         
Australia, Canada and
Japan.                                                    

Save as disclosed
above, neither Synergy Africa nor any person acting in concert
with Synergy
Africa for the purposes of the Offer is interested in or has any   
rights to
subscribe for any Chromex Shares nor does any such person have any    
short
position or any arrangement in relation to Chromex Shares. For these     

purposes "arrangement" includes any agreement to sell or any dealing
obligation 
or right to require another person to purchase or take delivery
of, and         
borrowing or lending of, Chromex Shares. An "arrangement"
also includes any     
indemnity or option arrangement, any agreement or
understanding, formal or      
informal, of whatever nature, relating to
Chromex Shares which may be an        
inducement to deal or refrain from
dealing in such securities. "Interest"       
includes any long economic
exposure, whether conditional or absolute, to changes
in the prices or
securities and a person is treated as having an "interest" by  
virtue of the
ownership or control of securities, or by virtue of any option in 
respect of,
or derivative referenced to securities.                             

The
expressions used in this announcement, unless the context otherwise        

requires, bear the same meaning as in the Offer Document dated 18 October
2010. 


Enquiries:                                                         
            

Ruukki Group Plc / Synergy Africa Limited                      
                

Dr Danko Koncar / Alex Buck     Tel: +44 (0)20 7368 6763   
                    
Thomas Hoyer, CFO               Tel: +358 (0)45 6700 491 
                      

Investec Bank plc (financial advisers to Ruukki and
Synergy Africa)             

David Currie                    Tel: +44 (0)20
7597 5970 
Patrick Robb                                                       
            
Daniel Adams                                                     
              
Stephen Cooper                                                 
                


Investec Bank Plc, which is authorised and regulated in
the United Kingdom by   
the Financial Services Authority is acting
exclusively for Ruukki and Synergy   
Africa and no one else in connection
with the Offer and Warrant Offer and will  
not be responsible to anyone other
than Ruukki and Synergy Africa for providing 
the protections afforded to
clients of Investec Bank plc or for providing advice
in connection with the
Offer and the Warrant Offer.                             
                    
                                                           
The release,
publication or distribution of this announcement in jurisdictions  
other than
the United Kingdom may be restricted by law and therefore persons in 
such
jurisdictions into which this announcement is released, published or      

distributed should inform themselves about, and observe, any applicable      
  
requirements. The following Announcement has been prepared in accordance
with   
English law and the Code and information disclosed may not be the same
as that  
which would have been prepared in accordance with the laws of
jurisdictions     
outside England.                                           
                    

This Announcement does not constitute an offer or an
invitation to purchase or  
subscribe for any securities or the solicitation
of any vote or approval in any 
jurisdiction pursuant to the Offer, the
Warrant Offer or otherwise. The Offer   
and the Warrant Offer are made solely
by means of the Offer Document, an        
advertisement published in the
London Gazette and the London edition of the     
Financial Times, and the
Form of Acceptance (in respect of Chromex Shares in    
certificated form) and
the Warrant Offer Form of Acceptance (in respect of the  
Chromex Warrants in
certificated form), which contain the full terms and        
conditions of the
Offer and the Warrant Offer, including details of how the     
Offer and the
Warrant Offer may be accepted. Any acceptance or other response to
the Offer
or the Warrant Offer should be made only on the basis of the         

information in the Offer Document and the Form of Acceptance (in the case of 
  
Chromex Shares in certificated form) and the Warrant Offer Form of
Acceptance   
(in respect of the Chromex Warrants in certificated form) (as
applicable).      

Unless otherwise determined by Synergy Africa and
permitted by applicable law   
and regulation, the Offer and the Warrant Offer
are not being, and will not be, 
made, directly or indirectly, in, into, or by
use of the mail, or by any means  
or instrumentality (including, without
limitation, telephonically or            
electronically) of interstate or
foreign commerce of, or by any facility of a   
national securities exchange,
of the United States, Canada, Australia, or Japan 
or any other jurisdiction
if to do so would constitute a violation of the       
relevant laws of such
jurisdiction and the Offer and the Warrant Offer will not 
be capable of
acceptance by any such use, means, instrumentality or facilities.

Accordingly, copies of this announcement, the Offer Document, the Form(s) of 
  
Acceptance and any other documents relating to the Offer are not being, and
must
not be, directly or indirectly, mailed, or otherwise forwarded,
distributed or  
sent, in whole or in part, in, into or from the United
States, Canada,          
Australia, or Japan or any other jurisdiction if to
do so would constitute a    
violation of the relevant laws of such
jurisdiction and persons receiving such  
documents (including custodians,
nominees and trustees) must not directly or    
indirectly mail, transmit or
otherwise forward, distribute or send them in, into
or from any such
jurisdiction as to do so may invalidate any purported          
acceptance of
the Offer and the Warrant Offer. Doing so may render invalid any  
purported
acceptance of the Offer and the Warrant Offer.  The availability of   
the
Offer and the Warrant Offer to persons who are not resident in the United  

Kingdom should inform themselves about and observe any applicable
requirements. 

Under Rule 8.3(a) of the Code, any person who is "interested"
in 1 per cent. or 
more of any class of "relevant securities" of an offeree
company or of any paper
offeror (being any offeror other than an offeror in
respect of which it has been
announced that its offer is, or is likely to be,
solely in cash) must make an   
"Opening Position Disclosure" following the
commencement of the "offer period"  
and, if later, following the announcement
in which any paper offeror is first   
identified. An "Opening Position
Disclosure" must contain details of the        
person's interests and short
positions in, and rights to subscribe for, any"    
relevant securities" of
each of (i) the offeree company and (ii) any paper      
offeror(s). An
"Opening Position Disclosure" by a person to whom Rule 8.3(a)    
applies must
be made by no later than 3.30 pm (London time) on the 10th business
day
following the commencement of the "offer period" and, if appropriate, by no

later than 3.30 pm (London time) on the 10th business day following the      
  
announcement in which any paper offeror is first identified. Relevant
persons   
who "deal" in the "relevant securities" of the offeree company or
of a paper    
offeror prior to the deadline for making an "Opening Position
Disclosure" must  
instead make a "Dealing Disclosure".                       
                    

Under Rule 8.3(b) of the Code, any person who is, or
becomes, "interested" in 1 
per cent. or more of any class of "relevant
securities" of the offeree company  
or of any paper offeror must make a
"Dealing Disclosure" if the person "deals"  
in any relevant securities of the
offeree company or of any paper offeror. A    
"Dealing Disclosure" must
contain details of the dealing concerned and of the   
person's interests and
short positions in, and rights to subscribe for, any     
"relevant
securities" of each of (i) the offeree company and (ii) any paper    

offeror, save to the extent that these details have previously been disclosed
  
under Rule 8. A "Dealing Disclosure" by a person to whom Rule 8.3(b)
applies    
must be made by no later than 3.30 pm (London time) on the
business day         
following the date of the relevant dealing.             
                       

If two or more persons act together pursuant to an
agreement or understanding,  
whether formal or informal, to acquire or
control an interest in relevant       
securities of an offeree company or a
paper offeror, they will be deemed to be a
single person for the purpose of
Rule 8.3.                                      

"Opening Position
Disclosures" must also be made by the offeree company and by  
any offeror and
"Dealing Disclosures" must also be made by the offeree company, 
by any
offeror and by any persons acting in concert with any of them (see Rules 
8.1,
8.2 and 8.4).                                                             


Details of the offeree and offeror companies in respect of whose relevant  
    
securities "Opening Position Disclosures" and "Dealing Disclosures" must
be made
can be found in the Disclosure Table on the Panel's website at        
         
www.thetakeoverpanel.org.uk, including details of the number of
relevant        
securities in issue, when the offer period commenced and when
any offeror was   
first identified. If you are in any doubt as to whether you
are required to make
an "Opening Position Disclosure" or a "Dealing
Disclosure", you should contact  
the Panel's Market Surveillance Unit on +44
(0)20 7638 0129.                    

Terms in quotation marks are defined in
the Code, which can also be found on the
Panel's website.                     
                                          

In accordance with Rule 19.11 of
the Code, a copy of this Announcement will be  
published on the Ruukki
website: www.ruukkigroup.fi.