Result of Meeting: ZCCM-IH EGM RESULTS

ZCCM Invs.Hldgs PLC

23 February 2024

 

 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:                                     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:                 [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.   ZCCM-IH Investments 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: 23 February 2024

ZCCM INVESTMENTS HOLDINGS PLC

[Incorporated in the Republic of Zambia]

Company registration number: 119540000771

Share Code: ZCCM-IH

ISIN: ZM0000000037

["ZCCM-IH" or the "Company"]

RESULTS OF RESOLUTIONS PASSED AT THE EXTRAORDINARY GENERAL MEETING OF ZCCM INVESTMENTS HOLDINGS PLC

1.0  Introduction

Shareholders are referred to the announcements ZCCM-IH released on the Stock Exchange News Service ("SENS") of the Lusaka Securities Exchange ("LUSE") on 10^th November 2023, 30 November 2023, 22 December 2023 and 1 February 2024 regarding the up to US$1.1 billion capital investment by International Resources Holding RSC Ltd, through its wholly-owned subsidiary, Delta Mining Limited, for a 51% interest in Mopani Copper Mines plc and the formation of a strategic partnership with ZCCM-IH. The investment will comprise US$620 million in new equity capital, up to US$100 million in settlement of existing third-party letters of credit and up to US$380 million of shareholder loans ("the Transaction"). The Company distributed a Transaction circular (the "Circular") on 2 February 2024 incorporating a notice of Extraordinary General Meeting ("EGM") to consider the Transaction. The Board of Directors of ZCCM-IH ("the Board") is pleased to provide a further update in relation to the Transaction.

2.0 Results of the General Meeting

At the EGM of ZCCM-IH held on 23^rd February 2024 and held at Mulungushi International Conference Centre, Lusaka, Zambia, shareholders of ZCCM-IH ("Shareholders") considered the resolutions proposed at the EGM as set out below:

THAT the Transaction be and is hereby approved and:

a)    the directors of the Company (the "Directors") be and are hereby authorised to do and procure to be done all such acts and things as they consider necessary, expedient or appropriate in connection with the Transaction and to give effect to or implement the Transaction and this resolution (including for the purpose of obtaining any approval, consent, clearance or permission that is a condition to the Transaction or that the Directors consider necessary or expedient);

b)    the Directors be and are hereby authorised to agree such modifications, variations, revisions, waivers or amendments to the terms and conditions of the Transaction (provided that such modifications, variations, revisions, waivers or amendments are not of a material nature), to any documents, and arrangements relating thereto, as the directors may, in their absolute discretion think fit; and

c)    that any and all conduct of each of the Directors that amounts to a breach of the Articles resulting from, arising out of or in relation to causing ZCCM-IH to enter into the Transaction and Transaction Agreements be and is hereby ratified and confirmed and ZCCM-IH hereby unconditionally and irrevocably waives, releases and discharges any and all claims or rights of action that it may have against each of the Directors resulting from, arising out of or in relation to the same.

The proposed resolutions were approved by the Shareholders.

Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company's securities until the completion of the Transaction.

By Order of the Board

Charles Mjumphi

Company Secretary

Issued in Lusaka, Zambia on 23 February 2024

	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 February 2024

 

END