Camellia PLC BF&M Strategic Review (7264Q)
June 30 2022 - 2:00AM
UK Regulatory
TIDMCAM
RNS Number : 7264Q
Camellia PLC
30 June 2022
30 June 2022
Camellia Plc
(the "Company" or the "Group")
Associate company update
Camellia Plc (CAM.L) announces that its 37.4% owned associate
company, BF&M Limited ("BF&M"), a listed Bermudian
insurance business, yesterday issued a statement that in order to
maximise shareholder value, it has initiated a review of strategic
alternatives for the business. This may include a range of outcomes
for BF&M, including, inter alia, the sale of BF&M. The full
text of BF&M's announcement can be found in Appendix 1 to this
announcement.
There can be no guarantee as to the outcome of the BF&M
strategic review. A further announcement will be made in due course
as and when appropriate.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation.
Enquiries
Camellia Plc 01622 746655
Malcolm Perkins, Chairman
Susan Walker, Chief Financial Officer
Panmure Gordon 020 7886 2500
Nominated Adviser and Broker
Emma Earl
Erik Anderson
Maitland/AMO
PR
William Clutterbuck 07785 292617
Appendix 1 BF&M announces Strategic Review
Hamilton, Bermuda. 29 June 2022- BF&M Limited (BF&M or
the 'Company') (BSX:BFM) announced today that, following
discussions with its principal 37.4% shareholder, the Board of
Directors ( the 'Board') has initiated a review of strategic
alternatives (the Strategic Review) to maximise shareholder value
and which may include the sale of the Company.
The Board has established a special committee (Special
Committee), chaired by Group Chairman and Chief Executive Officer
John Wight and including Jennifer Reynolds and Anthony Joaquin,
both independent directors, to oversee the Strategic Review. The
Special Committee has retained Desjardins Capital Markets to assist
it in this process.
John Wight stated: 'Throughout and beyond the Strategic Review
process, BF&M will remain focused on enhancing corporate value
by steadily carrying out business activities, delivering excellent
customer service and executing on our long-term strategy.'
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