Home » General » Cambria to Delist From Alternative Investment Market

Southern Africa-focused investment company, Cambria has appointed JP Jenkins to provide a matched bargain dealing facility pending the approval of its proposal to delist from the Alternative Investment Market by its shareholders.

Cambria investors are set to meet on February 18 to consider the proposal and if approved there would no longer be a formal market mechanism for shareholders to trade their shares on AIM or any other recognised market or trading exchange.

JP Jenkins, a trading division of Peterhouse Corporate Finance Limited that is authorised and Regulated by the Financial Conduct Authority, a Member of the London Stock Exchange, will facilitate the trading of ordinary shares after the cancellation.

Cambria is considering delisiting after disposing Leopard Rock Hotel at a price well below expectations, which resulted in the company’s total assets being significantly reduced. It also cited the significant professional fees associated with the Admission (such as legal, accounting, London Stock Exchange and nominated aiser costs) as wholly disproportionate.

“The directors believe that as a result of the cancellation, Cambria would be better placed to focus on its orderly exit from the company’s remaining portfolio investments, including pursuing the claims against Lonrho currently in the English High Courts, and subsequent return of cash to shareholders.

“In this context, the directors believe that greater shareholder value will ultimately be derived by operating the company’s business off-market,” Cambria said.

Cambria intends to continue to maximise the value of its existing assets and to seek an orderly exit from its existing portfolio of investments and return cash to its shareholders once the cancellation goes through.

Source : The Herald