REG - Cambria Africa PLC - Final Results Status and Update

Cambria AfricaAnnouncement

20/02/2023 14:45

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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 (http://www.cambriaafrica.com/)
 Samir Shasha                  +44 (0)20 3287 8814

 WH Ireland Limited
 James Joyce / Sarah Mather    +44 (0) 20 7220 1666

 

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