Portfolio Update

ZCCM Invs.Hldgs PLC
11 July 2024
 

SENS ANNOUNCEMENT

(the "Notice" or "Announcement")

 

ISSUER

ZCCM-IH LOGO _jpeg

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

 

SBZ Logo - Small

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:

i.      the Lusaka Securities Exchange ("LuSE")

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

iii.   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

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings