REG - Cambria Africa PLC - Settlement of Loan <Origin Href="QuoteRef">CMBC.L</Origin>

Cambria AfricaAnnouncement

03/05/2016 18:25

RNS Number : 1376X
Cambria Africa PLC
03 May 2016
Cambria Africa Plc
("Cambria" or the "Company")
Settlement of Loan
Cambria has today given instructions to effect payment in satisfaction of the sums owed to Consilium Corporate Recovery Master Fund Ltd ("Consilium"), which fell due for payment today in a total amount of USD 5,072,327.66. Of this sum, approximately USD 3,293,000 has been paid by Cambria; the remainder has been made available with the assistance of Ventures Africa Limited, a related party by virtue of being 50.55% shareholder and a company in which Samir Shasha (a director in the Company) is the beneficial holder, on terms yet to be agreed.
The Company will provide further details on any agreement with Ventures Africa Limited in relation to the sums provided on Cambria's behalf once finalised, in accordance with AIM Rule 13.
Consilium assert claims relating to their legal costs in their premature attempt to foreclose on the loan agreement; these costs are disputed by the Company. Cambria meanwhile continues to assert claims against Consilium.
Ends
Contacts
Cambria Africa Plc
www.cambriaafrica.com
Samir Shasha
+44 (0) 781 3919 988
WH Ireland Limited
www.wh-ireland.co.uk
James Joyce / Mark Leonard
+44 (0) 20 7220 1666

This information is provided by RNS
The company news service from the London Stock Exchange
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