Settlement with Lonrho Limited
04/09/2015 14:04
RNS Number : 1587Y
Cambria Africa PLC
04 September 2015
Cambria Africa plc
("Cambria" or the "Company")
US$ 4.752 million settlement with Lonrho Limited
Further to the legal proceedings between the Company and Lonrho Limited ('Lonrho'), Cambria announces it has concluded a settlement agreement with Lonrho with respect to the claims and counterclaims ("the Claims") between the parties, in terms of which, Cambria will receive $4,752,000 in full and final settlement of the Claims.
After outstanding litigation and other associated costs, the net proceeds are estimated to be US$3,5 million and will be applied to Cambria, and itssubsidiaries, working capital requirements and debtcommitments.
| Contacts | ||
| Cambria Africa Plc | www.cambriaafrica.com | |
| Samir Shasha | +44 (0) 207 669 0115 | |
| Josie Watenphul | +41 (0) 79 9085 430 | |
| WH Ireland Limited | www.wh-ireland.co.uk | |
| James Joyce / Mark Leonard | +44 (0) 20 7220 1666 | |