Artwork Sale and Update on Indian Tea Estate MOU
Camellia PLC has announced the sale of artwork for £3.7 million, generating a profit of £3.6 million, which will fund its Value Enhancement Plan and increase investment in higher-return assets. Additionally, the company noted that its 74% owned Indian subsidiary, Goodricke Group Limited, has terminated a memorandum of understanding regarding the proposed sale of its Barnesbeg Tea Estate.
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Sale of Artwork
Update on Indian Tea Estate MOU
Camellia is pleased to announce the recent sale of some of the Company's artwork has realised proceeds of £3.7 million, with a profit of £3.6 million. The proceeds from this will support the Company's Value Enhancement Plan, which includes increasing investment into higher-return operating assets to generate long-term growth in shareholder value.
The Company also notes the announcement by Goodricke Group Limited (a 74% owned Indian subsidiary of Camellia) on 1 April 2026 to the Bombay Stock Exchange, of the termination of the memorandum of understanding (announced by the Company on 23 Feburary 2026) in connection with the proposed sale of its Barnesbeg Tea Estate.
596/2014, as part of UK domestic law via the European Union (Withdrawal) Act 2018.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.