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  ZCCM company press release from 11/07/2024 - ZCCM-IH - LUBAMBE-JCHX MARKET ANNOUNCEMENT

  11/07/2024 - 15:00

ZCCM-IH - LUBAMBE-JCHX MARKET ANNOUNCEMENT


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

Authorized by: Charles Mjumphi – 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 Number: +260-211-232456

Website: www.sbz.com.zm

APPROVAL

The captioned Notice or Announcement has been approved by:

  1. the Lusaka Securities Exchange (“LuSE”)
  2. the Securities and Exchange Commission (“SEC”)
  3. ZCCM Investment Holdings Plc (“ZCCM-IH”)

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: 11 July 2024

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”]

MARKET ANNOUNCEMENT

The Board of ZCCM Investments Holdings Plc (“ZCCM-IH” or the Company”) wishes to inform its shareholders and the public that EMR Capital has sold its 80% shareholding in Lubambe Copper Mines Limited (“Lubambe”) to JCHX Mining Management Company Limited (“JCHX”) who has acquired this stake through its wholly owned overseas subsidiary Sundimo Mining Investments Limited (“Sundimo”) who will hold this 80% of the issued share capital of Lubambe including claims on shareholder loans via a Share Sale and Purchase Agreement.

As the principal funder, JCHX through Sundimo intends to invest circa USD 300 million into Lubambe for operations and extension of the life of mine. A new Shareholders agreement and commercial terms shall be negotiated between ZCCM-IH and Sundimo.

About JCHX

JCHX is one of the largest privately owned mining contractors with headquarters in Beijing, China. The company was founded in 1997 with a principal focus on contract mining and mine construction. JCHX has now shifted its corporate strategy to be a one-stop mining solution provider developing its 5 pillars of business modules for mine construction and contract mining, equipment manufacturing, scientific and technological research, resources development, and trading. The company was listed on Shanghai Stock Exchange (JCX: 603979) on 30th June 2015. JCHX has 36 projects across the world including Zambia, the Democratic Republic of Congo, Serbia, Indonesia and Kazakhstan.

The Board is confident that with the new partner on board, ZCCM-IH will extract value from Lubambe for the benefit of all the stakeholders.

By Order of the Board

Charles Mjumphi

Company Secretary

Issued in Lusaka, Zambia on 11 July 2024

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 11 July 2024


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  Original Source: ZCCM