AMBR Ambrian

TIDMAMBR

RNS Number : 5126M

Ambrian PLC

14 October 2016

Ambrian plc

("Ambrian" or the "Company")

Ambrian to focus on industrial activities

As previously announced, the Board has been seeking to adapt the Company's business model so as to reduce earnings volatility and protect its capital base going forward. Accordingly, the Board has determined that, in light of the prevailing uncertain business environment in the commodity sector, the Company's metal trading activities will be wound down in an orderly manner and closed over the next few months. Unlike the capital engaged in the Company's industrial asset base, capital employed in the metal trading activities can be released within a relatively short time span, strengthening the Company's resources. As a consequence, following the closure of its metals trading business, Ambrian will focus on the development of its industrial asset base and on building a portfolio of businesses with a balanced risk profile and defensive income drivers. The Board is currently assessing a number of strategies, investments and corporate transactions which it believes could assist the Company in achieving these targets.

JP Conrad, CEO, said:

"The long term fundamentals of our cement producing and marketing business remain solid. We continue to drive operational improvements which benefits will be captured to their full extent once the Mozambique economy resumes its historical growth pattern. Moving out of the metals trading activities allows Ambrian to become a more focused organisation and accelerate the performance and development of our industrial asset base. "

Enquiries

 
 Ambrian plc 
 Roger Clegg              + 44 (0)20 7634 4700 
 
 
 
 Cenkos Securities plc 
 Neil McDonald            + 44 (0)20 7397 8900 
 Nick Tulloch 
 

This announcement contains inside information.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 14, 2016 02:00 ET (06:00 GMT)

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