Directorate Change

RNS Number : 1337P

Cambria Africa PLC

03 June 2015

 



Cambria Africa Plc

("Cambria" or the "Company")

Directorate Change

The Company is pleased to announce that Samir Shasha has joined the board as a non-executive director with immediate effect. Pursuant to the Share Subscription Agreement with Ventures Africa Ltd ("VAL"), as set out in the Company announcement on 16 February 2015, VAL is entitled to nominate 3 additional Directors and Samir Shasha was nominated under this entitlement. VAL purchased Leopard Rock Hotel from Cambria Africa in October 2014.

Through his companies, Mr. Shasha is actively involved in real estate and hotel investments, supply of trucks, and transport operations in Zimbabwe and Southern Africa.

Mr. Shasha started his involvement in Southern Africa with supplying and leasing trucks for the operations of a transport company focused on relief aid. In 1995 he established S. Shasha & Associates in Zimbabwe and introduced Freightliner Trucks in Southern Africa for the first time. In 2002, S. Shasha & Associates (Pvt) Ltd. (Zimbabwe) purchased Zimbabwe Online, an Internet Service Provider in Zimbabwe, and took on the role of CEO until 2006. The company was sold to Liquid Telecom in 2012. 

Mr. Shasha received his Bachelors from Vassar College with Honors in Economics in 1981.

 The names of all companies and partnerships of which Mr. Shasha, aged 55, has been a director or partner at any time in the previous five years are set out below:

S. Shasha & Associates (Pvt) Ltd	Current
Shasha & Associates, SP (USA)	Current
Global Coal Distributors (Pvt) Ltd.	Current
Encyclia Logistics (Pvt) Ltd.	Current
Maxiyield (Pvt) Ltd.	Current
Leopard Rock Hotel Ltd.	Current
Space Properties (Pvt) Ltd.	Current
Rofane (Pvt) Ltd	Current
FDB Properties (Pvt) Ltd.	Current

At age 27, on 7 August 1987, Samir Shasha filed for Chapter 7 voluntary bankruptcy in US Bankruptcy Court for the Northern District of Illinois in relation to outstanding debts of approximately $75,000. The bankruptcy was terminated on January 15, 1988. 

S. Shasha & Associates (Pvt) Ltd is the 100% shareholder of Encyclia Logistics (Pvt) Ltd. which is the 100% shareholder of Ventures Africa Limited which in turn has a 50.55% interest in Cambria. Shasha & Associates, SP (USA), wholly owned by Samir Shasha, owns 100% of S. Shasha & Associates (Pvt) Ltd,.

There are no other matters which are required to be announced pursuant to paragraph (g) of Schedule 2 to the AIM Rules.

Ends

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

 

END

 

 

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