Update Regarding Dispute ...
November 17 2015 - 3:47AM
UK Regulatory
/**/
RNS Number : 9596F
Cambria Africa PLC
17 November 2015
Cambria Africa Plc
("Cambria" or the
"Company")
Update Regarding Dispute
Further to Cambria's announcement of
23 October 2015 regarding the dispute over the terms of the secured
loan agreements held with Consilium Corporate Recovery Master Fund
Ltd ("CCRMF"), the Company advises that in response to its
application for an injunction, CCRMF has undertaken it will not
file any proceedings for the winding up of Cambria based on the
Statutory Demand in the Isle of Man in which CCRMF had formally
demanded the sum of US$4,819,106.18 pursuant to the secured loan
agreements.
The Company continues to dispute
CCRMF's claim that there has been an event of default that entitles
Consilium to accelerate repayment of the loan and maintains that
the due date of the loans as disclosed in its audited financial
statements and as defined in the loan agreements, as amended, is 30
April 2016. The Company is also considering counterclaims against
Consilium.
The Company will provide a further
update regarding the dispute in due course, as
appropriate.
Ends
Contacts
|
|
|
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Cambria Africa Plc
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www.cambriaafrica.com
|
Samir Shasha
|
+44 (0) 781 3919 988
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Josie Watenphul
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+41 (0) 79 9085 430
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|
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WH Ireland Limited
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www.wh-ireland.co.uk
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James Joyce / Mark Leonard
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+44 (0) 20 7220 1666
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This information is provided by RNS
The company news service from the
London Stock Exchange
END
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