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