Final Results Status and Update

RNS Number : 4811Q

Cambria Africa PLC

20 February 2023

 

Cambria Africa Plc

("Cambria" or the "Company")

Final Results Status and Update

Cambria Africa plc (AIM:CMB) ("Cambria" or the "Company"), will not be in a position to release audited results for the year ended 31 August 2022 ("FY22") by 28 February 2023 as required under AIM Rule 19 of the AIM Rules for Companies. As a result, the Company's shares will be suspended with effect from 7:30am on 1 March 2023 until such time as the audited results are published and sent to its shareholders. As announced on 27 October 2022, management is actively pursuing maximising and realising NAV per share and seeking to bring the share price closer to that number.

In this respect, the Company remains on track with respect to proposed realisations of asset values at the holding level including:

-  Share sale of Lonzim Enterprises UK for US $1.7 million

-  Maximising the USD value for the deposit of $1.3 million written down to US$ 2,000 at the Reserve Bank of Zimbabwe (RBZ) against debts owed by its subsidiaries in Zimbabwe 

-  Achieving the sale or rental income from business premises occupied by Paynet Zimbabwe

-  Creating value from the Intellectual Property held by Payserv Africa and Tradanet

-  Achieving an minimum return of 3% on cash held in Mauritius by Payserv Africa

-  Driving interest expense and overhead expenses to near non-material levels.

The Company will provide a further update to the shareholders upon further material developments.

Contacts
Cambria Africa Plc	www.cambriaafrica.com
Samir Shasha	[phone]
WH Ireland Limited
James Joyce / Sarah Mather	[phone]

 

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