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  ZCCM company press release from 30/03/2022

  30/03/2022 - 10:00

ZCCM-IH FURTHER CAUTIONARY ANNOUNCEMENT_KCM


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 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. 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: 30 March 2022

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 ZCCM-IH filing a petition in the High Court of Zambia for the winding up of Konkola Copper Mines PLC (“KCM”) on 21 May 2019 (the “Petition”) and the appointment by the Court of Mr. Milingo Lungu as provisional liquidator of KCM (the “Provisional Liquidator”) and to the announcement dated 23 June 2021 regarding ZCCM-IH's application for leave to appeal against the decision of the Court of appeal which stayed the liquidation proceedings and referred the parties to Arbitration.

Shareholders are also referred to the announcement regarding the fact that ZCCM-IH had appealed against the said decision of the Court of Appeal to the Supreme Court on 7 September 2021. ZCCM-IH wishes to inform the market that the Supreme Court in a Ruling dated 22 March 2022 declined to hear the appeal. The decision was based on the fact that the matters that ZCCM-IH sought to have the Supreme Court hear and determine had already been dealt with in the Partial Final Award delivered on 7 July 2021 in Arbitration. By the Ruling of the Supreme Court, the Court of Appeal's decision staying the liquidation proceedings and referring the parties to Arbitration remains unvacated.

Shareholders are also informed that on 17 March 2022, Mr. Milingo Lungu, resigned as Provisional Liquidator. By operation of law, the Official Receiver, Mrs. Natasha Kalimukwa, has assumed the role of Provisional Liquidator.

ZCCM-IH will provide details on this matter 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 30 March 2022

Lusaka Securities Exchange Sponsoring Broker
  T | +260-211-232456

E | [email protected]

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


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  Original Source: ZCCM