11th Nov 2024 17:08
Camellia PLC - Kent, England-based agriculture company - Announces that following the receipt of regulatory approvals the company has sold the entirety of its holdings in Bangladeshi associate companies as indicated on October 31. On Sunday and Monday via block trades on the Dhaka Stock Exchange, Camellia disposed of a 38.4% stake in United Finance Ltd and a 37% stake in Insurance Company Ltd. Camellia estimates approximately GBP7.9 million in cash proceeds from the transactions. Net assets attributable to the holdings amount to GBP9.5 million as at June 30 and settlement is expected later this week.
Camellia says: "This represents a further step in the simplification and rationalisation of the company's business."
Current stock price: 4,420.00 pence
12-month change: down 12%
By Elijah Dale, Alliance News reporter
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