Cambria Africa PLC Company Settles Dispute with Consilium (7250S)
04 Oktober 2017 - 4:15PM
UK Regulatory
TIDMCMB
RNS Number : 7250S
Cambria Africa PLC
04 October 2017
Cambria Africa Plc
("Cambria" or the "Company")
Company Settles Dispute with Consilium for US$ 220,000
Further to the Company's announcement of 21 December 2016 in
relation to its dispute with Consilium Corporate Recovery Master
Fund (Consilium), on 4 October 2017, the Company executed a
settlement deed with Consilium. The terms of the settlement deed
provide that;
-- Cambria and Consilium agree to settle all claims against each other.
-- Cambria will pay Consilium US$220,000 and each party grants
the other and their respective directors and associated parties
releases from claims relating to the matters that were in
dispute.
-- The money deposited at the Court Funds Office by Cambria as security for costs in the sum of GBP381,342.38 shall, subject to an agreed amount being paid to Consilium by way of contribution to the settlement amount, be released in full back to Cambria.
-- To protect the interests of Cambria and its shareholders
situations not related to Consilium or the present dispute have
been excluded from the scope of the releases granted by
Cambria.
The Management and Board of Cambria, supported by the advice of
our legal counsel, believe that given the costs associated with
proceeding to trial and the inherent risks of litigation that the
settlement is in the best interest of shareholders.
Contacts
Cambria Africa Plc: www.cambriaafrica.com
+44 (0) 207 669
Samir Shasha 0115
Email: info@cambriaafrica.com
WH Ireland Limited:
+44 (0) 20 7220
James Joyce / Alex Bond 1666
This information is provided by RNS
The company news service from the London Stock Exchange
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