SENS ANNOUNCEMENT
(the "Notice" or "Announcement")
ISSUER
ZCCM INVESTMENTS HOLDINGS PLC ("ZCCM-IH")
[Incorporated in the Republic of Zambia]
Company registration number: 119540000771
Share Code: ZCCM-IH
ISIN: ZM0000000037
Authorised by: Chabby Chabala - Company Secretary
SPONSOR
Stockbrokers Zambia Limited
[Founder Member of the Lusaka Securities Exchange]
[Regulated and licensed by the Securities and Exchange Commission of Zambia]
Contact Person: Natasha Nelson
Contact Number: +260-211-232456
Website: www.sbz.com.zm
APPROVAL
The captioned Notice or Announcement has been approved by:
- the Lusaka Securities Exchange ("LuSE")
- the Securities and Exchange Commission ("SEC")
- Stockbrokers Zambia Limited ("SBZ")
RISK WARNING
The Notice or Announcement contained herein contains information that may be of a price sensitive nature.
Investors are advised to seek the advice of their investment advisor, stockbroker, or any professional duly licensed by the Securities and Exchange Commission of Zambia to provide securities advice.
ISSUED: 09 April , 2021
ZCCM INVESTMENTS HOLDINGS PLC
[Incorporated in the Republic of Zambia]
Company registration number: 771
Share Code: ZCCM-IH
ISIN: ZM0000000037
["ZCCM-IH" or "the Company"]
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders of ZCCM Investments Holdings Plc ("ZCCM-IH") are referred to the announcement dated 23 May 2019 concerning the following:
- ZCCM-IH filed a petition in the High Court of Zambia for the winding up of Konkola Copper Mines PLC ("KCM") on 21 May 2019 (the "Petition"), the appointment by the Court of Mr Milingo Lungu as provisional liquidator of KCM (the "Provisional Liquidator").
- The legal proceedings commenced on 2 July 2019 in the High Court of South Africa and applications made to the Zambian High Court by Vedanta Resources Limited and Vedanta Resources Holdings Limited (together "Vedanta") to stay the liquidation proceedings and refer the matter to arbitration.
Shareholders are informed that the High Court of Zambia ruled against Vedanta on 7 August 2019. On 13 August 2019 Vedanta appealed to the Court of Appeal of Zambia against the decision of the High Court of Zambia which denied them their application to stay the liquidation proceedings and refer the matter to arbitration. The Court of Appeal on 20 November 2020 ruled in favour of Vedanta and stayed the liquidation proceedings and referred the matter to arbitration.
ZCCM-IH intends to appeal against the decision of the Court of Appeal and to stay the judgment. We await the court of appeal's decision regarding ZCCM-IH's application for leave to appeal.
ZCCM-IH will provide details on this matter, as it progresses, in due course.
In the meantime, Shareholders of ZCCM-IH are advised to exercise caution when dealing in securities of the Company until further information is published.
By Order of the Board
Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on 09 April2021
| Lusaka Securities Exchange Sponsoring Broker | |
| T | +260-211-232456 E | advisory@sbz.com.zm W | www.sbz.com.zm Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia | |
First Issued on 23 May 2019
- SECURITY MASTER Key: m5iclJRnlWuVl29yZJeZnGFrm5mVmJKVaJedlpZql5jJb3GRx29jmsnIZm9pm2hm
- Check this key: https://www.security-master-key.com.
https://www.actusnews.com/documents_communiques/ACTUS-0-68630-zccm-ih-further-cautionary-announcement-kcm-sens-09042021.pdf
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