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Camellia PLC - holding company for agriculture businesses in Bangladesh, Brazil, India, Kenya, Malawi, South Africa and Tanzania, growing tea, avocado, macadamias and other produce - Calls general meeting for June 5 for shareholders to approve a tender offer for shares representing 12.8% of the total. Camellia proposes to return up to £18.9 million to shareholders by repurchasing up to 350,000 shares at a fixed tender price of £54.00, a premium to the current market price. The Camellia Foundation, the company’s majority shareholder at 52%, will vote in favour of the tender offer but will not take part. The tender offer will be run by broker Panmure Liberum Ltd. Together with an ongoing share buyback, the tender offer will return some of the proceeds of Camellia’s recent $100.0 million sale of its entire 36.9% holding in associate BF&M to Bermuda Life Insurance Co, a subsidiary of Argus Group Holdings Ltd. It also is part of a ’value enhancement plan’ launched by Camellia on Monday. ‘Camellia has a well-established portfolio of high-quality agricultural businesses that own and manage 50,000 hectares of mature land across three continents, and which offer significant potential,’ says Chief Executive Byron Coombs. ‘The strengthened board and leadership team have been looking carefully at how to improve the performance of the group to provide sustainable and growing shareholder returns. The outcome of this, the value enhancement plan, is designed to generate long-term shareholder value.’ Current stock price: 5,334.00 pence, up 5.1% in London on Monday 12-month change: up 21% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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