REG - Camellia PLC - Sale of Bangladesh associate companies

CamelliaAnnouncement

11/11/2024 08:15

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RNS Number : 6935L  Camellia PLC  11 November 2024

11 November 2024

Camellia Plc

(the "Company")

 

Sale of Bangladesh associate companies

 

Further to the announcement made on 31 October 2024, the Company is pleased to
confirm that, following receipt of regulatory approvals, its subsidiaries have
sold their entire holdings in United Finance Limited (38.4% ownership) and
United Insurance Company Limited (37% ownership) by way of block trades on the
Dhaka Stock Exchange on 10 and 11 November 2024.  The estimated cash proceeds
are expected to total Tk1,220 million (approximately £7.9 million).
Camellia's net assets attributable to these holdings as at 30 June 2024 were
£9.5 million. Settlement of the trades is expected to occur this week.

 

This represents a further step in the simplification and rationalisation of
the Company's business.

 

 

 

 

 

 

 

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

 

Enquiries

 

Camellia Plc
 
01622 746655

Byron Coombs, Chief Executive Officer

Oliver Capon, Chief Financial Officer

 

Panmure Liberum
 
020 7886 2500

Nominated Adviser and Broker

Emma Earl

Rupert Dearden

 

H/Advisors Maitland

PR

William Clutterbuck
 
07785 292617

 

 

 

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