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  ZCCM company press release from 26/07/2022

  26/07/2022 - 20:30

ZCCM-IH_ATLAS MARA CORPORATE GUARANTEE


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: 26 July 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”]

TRANSACTION ANNOUNCEMENT

The Board wishes to inform the shareholders and the market that ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”), has agreed to provide Corporate Guarantees to Atlas Mara Bank for the amount of USD 15 million (the “Transaction”).

In line with the requirements of Section 9 of the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the key features of the Transaction are as follows:

Particulars of the Transaction The provision of USD 15 million Corporate Guarantees Atlas Mara by ZCCM-IH for the provision of a Letter of Credit and Working Capital to Mopani Copper Mines Plc (“MCM”).
Guaranteed Amount
  • USD 15 Million
Other significant terms of the Transaction Provision of USD 15 million Corporate Guarantee to Atlas Mara comprising:
  • USD 5 Million Letter of Credit from Atlas Mara; and
  • USD10 Million Overdraft Facility from Atlas Mara for twelve months.
Effective Date 22 June 2022
Rationale for the Transaction The support of ZCCM-IH to the operations of MCM is quite critical at this juncture. MCM needs working capital urgently in order to address the following issues:
  • Purchase of third-party concentrates;
  • Financing of mobile equipment; and
  • Recurring working capital needs.

By Order of the Board

Chabby Chabala

COMPANY SECRETARY

Issued in Lusaka, Zambia on 26 July 2022

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 26 July 2022


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  Original Source: ZCCM