Further Cautionary Announcement

RNS Number : 5058H

ZCCM Invs.Hldgs PLC

03 December 2020

 

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:  [phone]

Website:  www.sbz.com.zm

APPROVAL

The captioned Notice or Announcement has been approved by:

i.  the Lusaka Securities Exchange ("LuSE")

ii.  the Securities and Exchange Commission ("SEC")

iii.  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: 01 December, 2020

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 filing by ZCCM-IH of 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") and the legal proceedings commenced 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").

Shareholders are informed that Vedanta appealed against the decision of the High Court which denied them their application to stay the liquidation proceedings and refer the matter to arbitration. The Court of Appeal on 20 November 2020 found 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.

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   1^st December 2020  

	T   |   [phone] E   |   [e-mail] 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

 

END

 

 

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