Celsys Scheme meeting approves takeover by Cambria

RNS Number : 2714E

Cambria Africa PLC

29 May 2012

 



Cambria Africa plc

("Cambria" or the "Company")

Celsys Scheme Meeting approves takeover by Cambria

Celsys Limited ("Celsys") held a Scheme of Arrangement meeting (the "Scheme") in terms of Section 194 of the Companies Act of Zimbabwe on 28 May 2012. In terms of the Scheme, Celsys shareholders voted on an offer to receive Cambria shares in exchange for their Celsys shares or cash.  The Scheme was duly passed by a majority in number and greater than the required three fourths in value of Celsys minority shareholders represented in person or by proxy at the meeting, in terms of the Companies Act of Zimbabwe.

With approvals in place for the acquisition of the outstanding shares held by minorities in Celsys, Cambria will undertake to proceed with the listing on the Zimbabwe Stock Exchange ("ZSE") over the coming period.

About Cambria Africa plc

Cambria Africa plc, quoted on the AIM market of the London Stock Exchange, is a long term, active investment company, building a portfolio of investments primarily in Zimbabwe.

Contacts
Cambria Africa plc	www.cambriaafrica.com
Ian Perkins	[phone]
Edzo Wisman	[phone]
WH Ireland Limited	www.wh-ireland.co.uk
James Joyce / Nick Field	[phone]

 

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