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Pin to quick picksCambria Africa Regulatory News (CMB)

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Company Settles Dispute with Consilium

4 Oct 2017 15:15

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 £381,342.38 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

Samir Shasha

+44 (0) 207 669 0115

Email:

info@cambriaafrica.com

WH Ireland Limited:

James Joyce / Alex Bond

+44 (0) 20 7220 1666

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBSBDGXBGBGRS
Date   Source Headline
1st Mar 20247:30 amRNSSuspension - Cambria Africa PLC
16th Feb 20247:00 amRNSHolding(s) in Company
9th Feb 202410:14 amRNSFinal Results Status and Update
4th Jan 20246:03 pmRNSHolding(s) in Company
15th Sep 20237:30 amRNSRestoration - Cambria Africa plc
14th Sep 20235:00 pmRNSInterim Results
14th Sep 20235:00 pmRNSAudited FY 2022 Results
11th Jul 20233:29 pmRNSProposed Paynet Software Agreement
31st May 20237:57 amRNSFinal and Interim Results status
1st Mar 20237:30 amRNSSuspension - Cambria Africa PLC
20th Feb 20232:39 pmRNSFinal Results Status and Update
27th Oct 202212:16 pmRNSInvestment update
30th May 20224:28 pmRNSInterim Results
31st Mar 20224:25 pmRNSAudited FY 2021 Results
28th Feb 20226:33 pmRNSREPLACEMENT - Trading Update FY 2021
28th Feb 20224:20 pmRNSTrading Update FY 2021
30th Jun 20213:00 pmRNSInterim Results
17th Jun 20217:30 amRNSRestoration - Cambria Africa plc
16th Jun 20214:30 pmRNSAudited FY 2020 Results
1st Jun 20217:30 amRNSSuspension - Cambria Africa PLC
28th May 20213:02 pmRNSNotice of Final Results and Interim Results
26th Feb 202111:21 amRNSTrading Update and Extension of Reporting Deadline
21st Sep 20204:34 pmRNSTrading and operational update
29th May 20204:20 pmRNSInterim Results
30th Mar 202011:00 amRNSPrice Monitoring Extension
28th Feb 202011:50 amRNSAudited FY 2019 Results
18th Nov 20198:22 amRNSTrading and Legal Actions Update
6th Aug 20194:29 pmRNSPaynet and Adviser Update
4th Jul 20197:00 amRNSPaynet and Payserv Sue BAZ for US $100 million
12th Jun 20191:12 pmRNSSuspension of Banks on Paynet Zimbabwe Platform
12th Jun 201910:53 amRNSPaynet update - suspension of services to banks
31st May 20197:00 amRNSInterim Results
5th Apr 20197:00 amRNSNew Appointments at Payserv Zimbabwe
1st Feb 20197:45 amRNSAudited 2018 Results
15th Jan 201912:45 pmRNSAnnual Results Update
4th Dec 20188:18 amRNSAppointment of Joint Broker
15th Nov 20182:05 pmRNSSecond Price Monitoring Extn
15th Nov 20182:00 pmRNSPrice Monitoring Extension
8th Nov 201812:17 pmRNSPreliminary Unaudited Results
11th Oct 20189:00 amRNSCorporate Update
18th Sep 20181:58 pmRNSTrading Update and Radar Holdings Ltd Acquisiton
10th Jul 20182:45 pmRNSOpen Offer raises £2.1 million Equity
2nd Jul 20189:06 amRNSTrading Update & Open Offer Reminder
5th Jun 20187:00 amRNSPosting of Open Offer Circular
15th May 20181:38 pmRNSOpen Offer & Issue of Shares to Directors
20th Apr 20185:52 pmRNSInterim Results
27th Feb 20187:00 amRNSFY 2017 Audited Financial Results
21st Dec 20177:00 amRNSSubsidiary Appoints Sibert Dube CEO
23rd Oct 201710:33 amRNSTrading Statement
4th Oct 20173:15 pmRNSCompany Settles Dispute with Consilium

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