ZCCM-IH Acquires additional 50% Shares in Kariba

RNS Number : 4485I

ZCCM Invs.Hldgs PLC

26 November 2018

 

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: 23 November 2018

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 UPDATE

ZCCM Investments Holdings PLC Acquires additional 50% Shares in Kariba Minerals Limited

On 7^th November 2018, ZCCM Investments Holdings Plc (ZCCM-IH) acquired an additional 50% shareholding in Kariba Minerals Limited (KML) which is Zambia's largest Amethyst mine. This acquisition means that ZCCM-IH now owns 100% shares in KML. The shares were acquired from Gemfields Limited at a total consideration of US$2,500,000. The completion of the transaction is subject to regulatory approvals.

Going forward, ZCCM-IH will implement a robust strategic plan aimed at improving production, processing and marketing activities in order to increase profitability of the mine.

By Order of the Board

Chabby Chabala

COMPANY SECRETARY

Issued in Lusaka, Zambia on Friday, 23^nd November 2018

Lusaka Securities Exchange Sponsoring Broker
	T          |           [phone] E          60;          [e-mail] W         pan>www.sbz.com.zm Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia
First Issued on 23 November, 2018

 

END

 

 

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