Trading update

RNS Number : 2967J

Camellia PLC

04 December 2018

 

4 December 2018

Camellia Plc

(the "Company")

Trading update - post employment benefits

The Board is pleased to announce that following consultation, the Government of Bangladesh has declared the tea industry to be exempt from legislation which requires companies to make a payment on retirement to employees, on the basis that the tea industry already makes such payments under industry specific legislation.   The consequence of this is that a provision for post employment benefits which amounted to £8.2 million (Tk 921.7 million) at 31 October 2018 can now be released.  This will increase profit before tax for 2018 by this amount.

This announcement contains inside information for the purpose of Article 7 of the Market Abuse Regulation (EU) N0. 596/2014.          

Camellia Plc                                                                                                                                                         01622 746655

Tom Franks, CEO

Susan Walker, CFO                                                                                                                                                                     

Panmure Gordon & Co (Nominated Adviser and Broker)                                                                           020 7886 2500

Erik Anderson

Emma Earl

 

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