US$ 4.752 million settlement8 Sep 2015 11:02
US$ 4.752 million settlement with Lonrho Limited
Further to the legal proceedings between the Company and Lonrho Limited ('Lonrho'), Cambria announces it has concluded a settlement agreement with Lonrho with respect to the claims and counterclaims ("the Claims") between the parties, in terms of which, Cambria will receive $4,752,000 in full and final settlement of the Claims.
After outstanding litigation and other associated costs, the net proceeds are estimated to be US$3,5 million and will be applied to Cambria, and its subsidiaries, working capital requirements and debt commitments.
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