Further to the legal proceedings between the Company and Lonrho Limited, Cambria Africa announces it has concluded a settlement agreement with Lonrho with respect to the claims and counterclaims 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 $3,5 million and will be applied to Cambria, and its subsidiaries, working capital requirements and debt commitments.
CMB : Cambria Africa Settlement with Lonrho Limited