TIDMCMB

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

END

MSCBRGDUXDGBGLX

(END) Dow Jones Newswires

May 03, 2016 13:24 ET (17:24 GMT)

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