Cambria Africa Share Discussion Threads

[tenapen] 05/5/2016 07:45

Paul, You say it so much better than I,



Do not bet what you can not afford to loose

[paul the octopus] 04/5/2016 23:00

Mr CEO put more of his money where his speaks. Maybe a reverse takeover coming, who knows...but Cambria lives on, no more ball games

[davidlloyd] 04/5/2016 19:38

That's good to know 😀
(So am I by the way)
DL

[tenapen] 04/5/2016 19:31

I am still quietly confident about Cambria's future.

Regards.

[barnetpeter] 04/5/2016 12:19

Good news? Payment of debt and loan by shareholder who sees a lot of value here even at this tiny mkt cap.....perhaps a reverse etc.



Cambria Africa PLC

03 May 2016

Cambria Africa Plc

("Cambria" or the "Company")

Settlement of Loan

Cambria has today given instructions to effect payment in satisfaction of the sums owed to Consilium Corporate Recovery Master Fund Ltd ("Consilium"), which fell due for payment today in a total amount of USD 5,072,327.66. Of this sum, approximately USD 3,293,000 has been paid by Cambria; the remainder has been made available with the assistance of Ventures Africa Limited, a related party by virtue of being 50.55% shareholder and a company in which Samir Shasha (a director in the Company) is the beneficial holder, on terms yet to be agreed.

The Company will provide further details on any agreement with Ventures Africa Limited in relation to the sums provided on Cambria's behalf once finalised, in accordance with AIM Rule 13.

Consilium assert claims relating to their legal costs in their premature attempt to foreclose on the loan agreement; these costs are disputed by the Company. Cambria meanwhile continues to assert claims against Consilium.

[paul the octopus] 11/3/2016 16:40

last rns just confirms that Consilium has no case, they are just playing balls with the CEO who got a big stake in the company, 50.50%, and he is not a let go one

[bean02] 10/3/2016 11:48

Took some more! They need another rns to ram home this mornings as it's not being understood

[bean02] 10/3/2016 09:14

Excellent news. Poorly presented rns. Consillium news to come

[davidlloyd] 10/3/2016 08:20

Quiet here. Market doesn't know what to make of news or just not picked up on it yet?
Interesting times.
DL

[gonuts1] 04/3/2016 07:13

Heads up

10m trade in ONZ 1.02p after hours yesterday

shares in issue 138m

[paul the octopus] 03/3/2016 09:49

btw, when u see CFEP happy to take 526,910 paying a bit over bid u know what's coming, enjoy the best 2 days for spikes :)

[paul the octopus] 03/3/2016 09:46

don't worry about them, the CEO is taking care of his 51% holdings very well, and Sillyim just playing balls while mm's taking advantage of puntersso the chap bought 526,910 at 0.5223 sold at 0.5526 for less than £200 profit, was it really worth the risk for a sleep overbet he would buy again at much higher price when next rns arrives, stay tuned and enjoy the balls game

[jumbone] 03/3/2016 09:23

Paul:

No one seem to appreciate the significance of the new developments.

If you look at the Annual Report numbers... They are very impressive to say the least.

I wonder why?

[paul the octopus] 02/3/2016 17:39

simply put, the money in the bank will be released and they will get a director on board or have a say in choosing the new CFO, win-win after all

[tenapen] 02/3/2016 17:32

For anyone new looking in to see what the background to todays share price rise is all about.


Alliance News

Cambria Africa Clarifies It Has Not Accepted Offer From Consilium
Wed, 2nd Mar 2016 15:52

LONDON (Alliance News) - Cambria Africa PLC shares rose on Wednesday after it said it is considering the proposed suspension of the ongoing litigation between the company and its lender, clarifying it has not agreed terms.

Cambria Africa shares were trading up 27.5% to 0.510 pence per share on Wednesday afternoon.

Cambria Africa released a statement earlier this week that said it had agreed the ongoing litigation being stayed, or suspended, until the end of April, but on Wednesday said it is only considering the terms.

The litigation arose from a dispute with one of its creditors, Consilium Corporate Recovery Master Fund Ltd, which has offered the suspension to the company.

Back in September, Cambria Africa said it "strongly disputes" claims made by Consilium that the company was due to repay a substantial loan, with Cambria Africa accusing Consilium of trying to "accelerate the repayment of the loans".

Consilium issued Cambria Africa with a statutory demand in the Isle of Man for the repayment of USD4.8 million pursuant to the terms under the loan agreement between the two companies.

The figure demanded by Consilium Corporate Recovery is the same as the USD4.8 million secured by Cambria Africa back in September from Lonrho Ltd earlier in 2015 after a court case between the two companies. Cambria Africa was originally seeking USD10.0 million from Lonrho.

In another blow to shareholders, Consilium then converted its floating charge on Cambria's assets, including its primary bank accounts and the USD4.8 million settlement from Lonrho as part of the dispute.

That meant Cambria Africa became reliant on the USD1.1 million standby facility made available by Ventures Africa Ltd to the company so it could be used as security for costs in relation to its now settled litigation against Lonrho.

The litigation with Lonrho came after Cambria Africa was accused of unlawfully transferred payments by Lonrho to one of its subsidiaries whilst it was managing Cambria in 2008, and over the three aircraft leases.

Cambria continues to diligently investigate all the claims it may have against Consilium and the former CEO and Chairman of Cambria, which are both directors of Consilium.

On another note, Cambria Africa Wednesday said current Chief Financial Officer Josie Watenphul will no longer carry out her financial management duties, and will become a non-executive director only, as the company begins its search for a new CFO.

By Joshua Warner; [e-mail]; @JoshAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved

[paul the octopus] 02/3/2016 16:29

526,910 at 0.52p, nice fill, surely then fishing for stock

[paul the octopus] 02/3/2016 16:28

was so obvious they were playing balls, finally they are sitting around the table. Let's move forward, upward and north

[bean02] 08/2/2016 13:53

Any ideas on likely costs to be awarded?

[bean02] 29/1/2016 13:57

Rns inbound?