Camellia PLC Sale of Bangladesh associate companies

RNS Number : 6935L

Camellia PLC

11 November 2024

 

11 November 2024

Camellia Plc

(the "Company")

 

Sale of Bangladesh associate companies

 

Further to the announcement made on 31 October 2024, the Company is pleased to confirm that, following receipt of regulatory approvals, its subsidiaries have sold their entire holdings in United Finance Limited (38.4% ownership) and United Insurance Company Limited (37% ownership) by way of block trades on the Dhaka Stock Exchange on 10 and 11 November 2024.  The estimated cash proceeds are expected to total Tk1,220 million (approximately £7.9 million).  Camellia's net assets attributable to these holdings as at 30 June 2024 were £9.5 million. Settlement of the trades is expected to occur this week.

 

This represents a further step in the simplification and rationalisation of the Company's business.

 

 

 

 

 

 

 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation.

 

Enquiries

 

Camellia Plc                                                      01622 746655

Byron Coombs, Chief Executive Officer

Oliver Capon, Chief Financial Officer

 

Panmure Liberum                                        020 7886 2500

Nominated Adviser and Broker

Emma Earl

Rupert Dearden

 

H/Advisors Maitland 

PR

William Clutterbuck                                             07785 292617

 

 

 

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