Update on Dispute
18/07/2016 07:00
RNS Number : 3921E
Cambria Africa PLC
18 July 2016
Cambria Africa Plc
("Cambria" or the "Company")
Update on Dispute
Company files Amended Defence and $1.84 Million in Counterclaims against Consilium
In its results announcement of 31 May 2016, the Company referred to claims asserted by Consilium Corporate Recovery Master Fund ("Consilium") relating to their legal costs incurred in their attempt to foreclose on the Consilium loan. Consilium's loan was repaid in full on the repayment date stipulated in the agreement.
The Company advises that it filed an Amended Defence and Counterclaim against Consilium in the Commercial Court on 13 July 2016. The Counterclaims total $1.84 million and are based on the substantive losses suffered by the Company as a result of Consilium's actions.
The Company will provide a further update regarding the dispute in due course, as appropriate.
| Contacts | |
| Cambria Africa Plc: | www.cambriaafrica.com |
| Samir Shasha | +44 (0) 207 669 0115 |
| Email: | info@cambriaafrica.com |
| WH Ireland Limited: | www.wh-ireland.co.uk |
| James Joyce | +44 (0) 20 7220 1666 |