REG - Camellia PLC - BF&M Strategic Review

CamelliaAnnouncement

30/06/2022 07:16

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220630:nRSd7264Qa&default-theme=true

RNS Number : 7264Q  Camellia PLC  30 June 2022

30  June 2022

Camellia Plc

 

(the "Company" or the "Group")

 

Associate company update

 

Camellia Plc (CAM.L) announces that its 37.4% owned associate company,
BF&M Limited ("BF&M"), a listed Bermudian insurance business,
yesterday issued a statement that in order to maximise shareholder value, it
has initiated a review of strategic alternatives for the business. This may
include a range of outcomes for BF&M, including, inter alia, the sale of
BF&M. The full text of BF&M's announcement can be found in Appendix 1
to this announcement.

 

There can be no guarantee as to the outcome of the BF&M strategic review.
A further announcement will be made in due course as and when appropriate.

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation.

 

Enquiries

 

Camellia Plc
 
01622 746655

Malcolm Perkins, Chairman

Susan Walker, Chief Financial Officer

 

Panmure Gordon
                                      020
7886 2500

Nominated Adviser and Broker

Emma Earl

Erik Anderson

 

Maitland/AMO

PR

William Clutterbuck
                                     07785
292617

 

 

 

 

 

 

 

Appendix 1 BF&M announces Strategic Review

Hamilton, Bermuda. 29 June 2022- BF&M Limited (BF&M or the 'Company')
(BSX:BFM) announced today that, following discussions with its principal 37.4%
shareholder, the Board of Directors ( the 'Board') has initiated a review of
strategic alternatives (the Strategic Review) to maximise shareholder value
and which may include the sale of the Company.

 

The Board has established a special committee (Special Committee), chaired by
Group Chairman and Chief Executive Officer John Wight and including Jennifer
Reynolds and Anthony Joaquin, both independent directors, to oversee the
Strategic Review. The Special Committee has retained Desjardins Capital
Markets to assist it in this process.

 

John Wight stated: 'Throughout and beyond the Strategic Review process,
BF&M will remain focused on enhancing corporate value by steadily carrying
out business activities, delivering excellent customer service and executing
on our long-term strategy.'

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCSESESUEESEDM