Home » General » Cambria Seeks to Have Suspension From Aim Lifted

Southern Africa-focused investment company Cambria is seeking to have its suspension from the Alternative Investment Market lifted after indicating that it will publish its outstanding results in August. Trading in the company’s shares was suspended from February 17, 2015, pending publication of the audited 2014 Full Year Results for the 12 months ended August 31, 2014.

“The company announces that, further to its announcement on February 16 2015, it now expects to release its 2014 Full Year Results for the 12 months ended August 31 2014, together with its 2015 Interim Results for the six months ended February 28 2015, by the middle of August 2015,” the company said in a statement.

The AIM rules for companies, stipulate that the admission of the company’s shares will be cancelled if the company’s shares are not restored to trading by the August 17.

“Consequently, the company will need to have published both its audited 2014 Full Year Results for the 12 months ended August 31 2014, and its 2015 Interim Results for the six months ended February 28 2015, by that date,” Cambria said.

Cambria, which was planning to delist had a change of heart following the successful subscription for 107 million shares for pound909 500 by Ventures Africa last month.

Cambria has already indicated that it will use the money raised from the transaction for general working capital for its existing investments.

The company’s existing investments include Payserv and Millchem.

The Payserv Group is Zimbabwe’s leading provider of Payments and Business Process Outsourcing services targeted at financial and related sectors.

The group comprises four business units, Paynet Zimbabwe, AutoPay, Loanserv and Softserv.

Paynet Zimbabwe provides an outsourced payments transfer platform linking 22 financial institutions and over 1 200 corporate institutions in all sectors of the Zimbabwean economy.

The payments transfer platform is well known as the Paynet system in Zimbabwe and widely used for bulk salary transfers, supplier payments and direct debits.

Millchem is a value-added chemicals distributor in Zimbabwe. It distributes industrial solvents and metal treatment products.

The company was established in 1986 as Millpal and rebranded to Millchem in 2011.

Source : The Herald

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