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Market: AIM
Sector: General Financial
EPIC: CMB
Latest Price: 0.00p  (0,00%)
52-week High: 25.25p
52-week Low: 15.50p
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Cambria Africa plc
www.cambriaafrica.com

 

Cambria Africa plc is a long term, active investment company, building a portfolio of investments primarily in Zimbabwe.  

The name of the Company is inspired by the Cambrian period in the earth's development, also referred to as the "Cambrian explosion".

It represents an anticipated period of rapid development and a promising new era for the Company, its shareholders and employees – alongside the current economic renaissance of Zimbabwe.

It has been listed on the AIM market of the London Stock Exchange since 2007.  Until February 2012 the Company was known as LonZim plc.

 

Pdf

LonZim rated ‘speculative buy’ at WH Ireland

1st Feb 2012, 12:48 pm by Andre Lamberti WH Ireland rates the company a 'speculative buy'

WH Ireland has issued a note on LonZim (LON:LZM), which it rates a ‘speculative buy’, following yesterday’s announcement it plans to change its name to Cambria Africa.

The Zimbabwe focused group said it can now operate without further direct support of its major shareholder Lonrho (LON:LONR) and has decided to change its name to reflect the change.

As a result, five members of the board nominated by Lonrho have agreed to step down at the upcoming AGM, which will be held on February 24. Lonrho will retain its 22.9 percent stake in the company.

The group plans to replace them with four new directors. Ian Perkins will be appointed to the board as a non-executive chairman at the AGM, Edzo Wisman as executive director and chief executive officer and Itai Mazaiwana and Fred Jones will join the board as non-executive directors.

LonZim also said that current non-executives Paul Turner and Paul Heber are expected to be re-elected at the AGM, while Turner is intended to become the company's deputy chairman.

The company said its new name is inspired by the Cambrian period in the earth's development and represents an “anticipated period of rapid development and a promising new era” for the company and Zimbabwe.

WH Ireland analyst Derren Nathan said the investment company is well positioned to benefit from future improvement of the Zimbabwean economy over the longer term.

The latest announcement is a result of the progress that has been made in the company and its ability to operate as a viable stand alone business, he said.

“Subject to AGM approval, we anticipate that the restructured board will be fully focussed on leveraging value from its operating companies in Zimbabwe and we look forward to engaging with the new directors in due course,” Nathan added.

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