Business
Artwork Sale and Update on Indian Tea Estate MOU
Camellia PLC has announced the sale of artwork for £3.7 million, generating a profit of £3.6 million, which will fund its Value Enhancement Plan and increase investment in higher-return assets. Additionally, the company noted that its 74% owned Indian subsidiary, Goodricke Group Limited, has terminated a memorandum of understanding regarding the proposed sale of its Barnesbeg Tea Estate. Disclaimer*
About this update from Camellia Plc
1 April 2026 Camellia Plc ('Camellia', the 'Company') Sale of Artwork Update on Indian Tea Estate MOU Camellia is pleased to announce the recent sale of some of the Company's artwork has realised proceeds of £3.7 million, with a profit of £3.6 million. The proceeds from this will support the Company's Value Enhancement Plan, which includes increasing investment into higher-return operating assets to generate long-term growth in shareholder value. The Company also notes the announcement by Goodricke Group Limited (a 74% owned Indian subsidiary of Camellia) on 1 April 2026 to the Bombay Stock Exchange, of the termination of the memorandum of understanding (announced by the Company on 23 Feburary 2026) in connection with the proposed sale of its Barnesbeg Tea Estate. This announcement contains inside information under Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as part of UK domestic law via the European Union (Withdrawal) Act 2018. Enquiries: Camellia Plc 01622 746655 / [email protected] Byron Coombs, Chief Executive Oliver Capon, Chief Financial Officer Panmure Liberum (Nominated Adviser and Broker) 020 7886 2500 Emma Earl / Will Goode Rupert Dearden Equitory Limited (Investor Relations) 07909918034 Catherine Miles H/Advisers Maitland (Financial PR) 07785 292617 William Clutterbuck Investors can register to receive updates and news from the Company by registering their email address at [email protected] . About Camellia: Camellia Plc is the ultimate holding company of a group of agricultural businesses incorporated in jurisdictions across the world (the 'Operating Companies'), while also owning and operating other assets outside of agriculture. Camellia's purpose is to grow and nurture agricultural businesses and assets of the highest quality - creating value for today's shareholders, while investing for the long term. Camellia's Operating Companies are committed to working fairly, sustainably and with integrity for the wellbeing of their employees, communities, and the natural environment. The Operating Companies collectively own and manage circa 50,000 hectares of mature land across seven countries (Bangladesh, Brazil, India, Kenya, Malawi, South Africa, and Tanzania). The majority of the Group's revenue is derived from the growing of tea, avocado, macadamia, rubber, wine grapes, blueberries, arable crops, forestry and livestock. The Operating Companies have well-established and industrial-scale operations, with reputations for high-quality products.