Cambria Africa Executes 50% Partial Share Redemption

Cambria Africa Plc announced a 50% compulsory partial share redemption at 0.88p per share. Approved by 99.7% of shareholders, this follows the company's plan to distribute capital initiated on August 27, 2024. The scheme sees USD 3.1 million slated for redemption, with funds already secured through currency exchange.

This redemption will halve the number of issued shares, cancelling the redeemed portion. Shareholders will receive 0.88p per share and one ordinary share for every two redeemed. Despite reducing NAV by about 50%, the NAV per share will remain unchanged, given the reduced number of shares.

Future capital distribution is tied to selling assets like Paynet's offices in Zimbabwe. However, the timeline and outcomes remain uncertain. As a precaution, Cambria retains ample liquidity post-redemption, ensuring obligations are met.