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Cambria Africa to leave AIM

The Board of Cambria Africa has decided that there is not much point in the company persevering with the cost of an AIM quote and intends to cancel the trading of the company’s shares on AIM.  They reckon they’ll save about £250,000 per year. To enable shareholders to buy and sell shares, the Board intends to facilitate a dealing arrangement expected to be in place shortly after the date of cancellation to enable shareholders to trade the ordinary shares.

The Board is convening a meeting on 18th February to approve this decision. 75% of shareholders that vote will need to approve the cancellation of trading for it to take effect.

The announcement says that, following the cancellation, the company will continue to work to maximise the value of its existing assets and to seek an orderly exit from the company’s existing portfolio of investments and return cash to its shareholders.

The directors say they also intend to keep shareholders informed of the company’s financial and operational performance through periodic updates via the company’s website, www.cambriaafrica.com.

CMB : Cambria Africa to leave AIM

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