Perfect mibo1, my money was in yesterday :-)
I was briefly talking with a South African woman today on a job I got a start on - hope to chat more over time. I asked how Zimbabwe was doing and she tells me lots of German money is being invested, and she thinks the country will bounce back. South Africa on the other hand is in a bad place.
Just thought I would share this prespective.
Have a good weekend All. |
Halifax money through today |
If you have your shares in interactive the money is there.
No signs of HL yet. |
Credit to Samir for staying true and honest.
Money back is great - Thanks.
Have a good weekend David, dave & everyone. |
Should work out tax free.
If they are only buying half the shares so anybody with 1 million will receive £4400
So say you paid 0.3p for them, you are making £1400 profit in a none isa which is not taxable.
A 5 million holding paying 0.3p, would receive £22k, paid £15k making £7k and if they have to pay tax would lose maybe £1k of it.
But how many people were in under 0.3p, most people paid way more I know my average was higher so the fact they they are only paying half this tax year and any potential funds from further asset sales will be in future tax years means it will be tax free or at worst a tiny amount of tax assuming you do pay tax for a stock moved or force moved from a ISA, as far as I can see interactive still have my CMB shares in the ISA??? |
Great news- thanks Pejaten for posting. Agree Dave- It is a shame it’s now outside ISA wrapper. However really looking forward to receiving monies and ‘new’ shares after all this time invested.
DL |
Wonder what the tax implications are.
HL have moved CMB into a none ISA from the ISA so does that mean it's taxable. |
Many thanks for posting that RNS - Pejaten.
Great news |
 23 January 2025
Cambria Africa Plc
(“Cambria̶1; or the “Company”;)
50% Compulsory Partial Share Redemption at 0.88p
On 27August2024, Cambria Africa Plc (JPJ:CMB) announced that it intended to distribute capital either through dividends or share redemptions. The first tranche of these distributions was set at USD 3.1million.
On 10October 2024, 99.7% of shareholders voting approved an amendment to Cambria’s Articles of Association to allow a prorata distribution of capital by way of a compulsory partial redemption. According to the Company’s Articles, “…the price per share shall not be lower than the latest audited Net Asset Value (NAV) per share of the Company less 10%”.
In anticipation of this redemption, on 16December2024, the Company sold USD3.1million at an exchange rate of USD 1.2681 per GBP, yielding GBP2,454,414.39. The Board of Directors has resolved to redeem 50% of all outstanding shares from shareholders of record on 31 January 2025 at 0.88p per share. Neville Registrars, the Company's Registrar, holds the record of members and is responsible for verifying shareholder details to ensure the accurate and timely distribution of payments for redeemed shares.
On or about 3 February 2025, the Company will execute a compulsory prorata redemption of 50% of all outstanding shares at a price of 0.88pence per share. Payment will be distributed via Crest, post, or internet transfer. Shareholders can expect payments via Crest within 2 business days, with postal and internet transfers processed shortly thereafter. The Board has determined that following the redemption, the Company will retain sufficient liquidity to meet its obligations, and its assets will exceed its liabilities. The Board increased the share capital by 37 shares to avoid fractional allotments.
As of 31August2023, the Company’s last audited NAV per share stood at 1.12UScents. At the exchange rate achieved on 16December2024, 0.88pence was equivalent to approximately 1.116UScents. As of 27January2025, 0.88pence is the equivalent of 1.10UScents.
Following this redemption:
The total number of ordinary shares in issue will be reduced by 50%.
All redeemed ordinary shares will be canceled.
Each shareholder will receive 0.88p per redeemed share and one reissued ordinary share for every two redeemed shares held.
Our Registrars, Neville Registrars are now activating the new ISIN assigned to Cambria with Euroclear. The redemption, issuance, and capital distribution are scheduled for 3 February 2025. No action is required from shareholders during this process. After the distribution, while the Company’s overall NAV will decline by up to 50% (relative to FY2023), the NAV per share is expected to remain the same. The reason is that there will be half as many shares in issue after the transaction.
As stated in the 27August2024 announcement to Shareholders, the Company intends to distribute a second tranche of capital following the sale of Paynet’s offices in MountPleasantBusinessPark. Beyond its real estate holdings, the Company has Zimbabwe-based assets valued by management at approximately USD 2.67 million. However, the extent and timing of recovery at the holding level remain uncertain. While the first tranche of distributions is confirmed, there is no guarantee regarding the amount or timing of proceeds from the remaining assets.
While maintaining strict cost controls, management will continue its efforts to streamline remaining operations and recover the value of the Company’s assets at the holding level for the benefit of all shareholders. |
Run off with our money |
I thought we might have had the first instalment by now ? |
Morning Camerongd53,
Just a waiting game unless Dave / David or anyone else has read the details better than me. I was hoping to get the first payment before the years end, still time.
Good luck. |
Anybody know when we can expect dividends etc from cCambria.
I thought an offer to buy the shares would be more pragmatic.
It would get rid of all tthe small shareholders and reduce costs etc.
I would accept afull value for the shares and saay cheerio from when I bought them as LOnrho AFrica |
Alliance News) - Old Mutual Ltd said on Tuesday that sales momentum continued into the third quarter of 2024 and indicated that it is "well positioned" to deal with influx of claims related to the two-pot retirement regime.
Cont... |
Stable and in demand - Zimbabwe ZIG |
Looking at other delisted stocks on the platform it seems highly unlikely you would first be able to sell and secondly get a good price so it's better just to wait for hopefully the full pay day from the company.
For example REDX has been there 2 months with a large valuation and not one trade has been done yet |
hxxps://jpjenkins.com/company/cambria-africa-plc/ |
Farewell CMB
At least on it's very last day it did over 100%+ |
Thanks dave,
I have £10k invested and at 0.77p I would lose £670 from that. Having held for 15/20 yrs. Lonzim / Cambria could prove to be one of my most stable gamble's, hahaha. I would never have sold of my own accord, so I'm happy Samir called an end.
Good weekend everyone. |
20 million so far.
I did reduce some, I know it's low but I have a huge holding and think I can do something with the cash but have plenty left.
But still the price was double the suspension price so I'm happy.
Still looks like it might go even higher today |
Hi Dave and David,
Samir seems to be a man of his word ! Unlike many CEO's on AIM.
dave, out of interest how is the volume today ? I don't have money to add but happy to hold for the final outcome.
Regards. |
If you can hold out for monies being returned it still seems worth buying under .5p for a 50% plus return, no? I guess getting hands on volume is unlikely as well as unknown timeframe that’s stopping this..🙄 |
Tenapen/david/md
Currently it's 0.333-0.5p and NT to buy amazing
I really believe Samir has a buy order at this level, they took 2 lots of 1.5 mil and a 1.7 mil and did not flinch.
If it goes to a reasonable price for me I might reduce a few but atm it looks good but the spread is attrocious |
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