Cambria Africa PLC Paynet update - suspension of services to banks (9742B)
12 June 2019 - 7:53PM
UK Regulatory
TIDMCMB
RNS Number : 9742B
Cambria Africa PLC
12 June 2019
Cambria Africa Plc
("Cambria" or "the Company")
Paynet update - suspension of services to banks
The Company notes media speculation in Zimbabwe and confirms it
has taken the decision to temporarily suspend its Paynet services
to its banking clients in Zimbabwe.
It has taken this decision as it seeks to protect its
contractual position with those clients to receive its payments for
its Paynet software platform in US dollars as it is concerned as a
result of the devaluation of the local Zimbabwean dollar it will
renege on the contractual position.
The banks have deferred to its banking body, the Interbank
Operations Committee ('IOC'). As the IOC has to date not provided
sufficient confirmations to the satisfaction of the Company, the
Company has taken this action.
The Company will provide a further update in due course.
For further information, please contact:
Cambria Africa Plc: www.cambriaafrica.com
Samir Shasha +44 (0) 207 669 0115
WH Ireland Limited: www.wh-ireland.co.uk
James Joyce / Matthew Chan +44 (0) 207 220 1666
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCKLLBFKQFEBBB
(END) Dow Jones Newswires
June 12, 2019 05:53 ET (09:53 GMT)
Cambria Africa (LSE:CMB)
Historical Stock Chart
From Apr 2024 to May 2024
Cambria Africa (LSE:CMB)
Historical Stock Chart
From May 2023 to May 2024