ZCCM Invs.Hldgs PLC Announcement re: FURTHER CAUTIONARY_KCM_23JUNE2021 (9171C)
June 24 2021 - 2:00AM
UK Regulatory
TIDMZCC
RNS Number : 9171C
ZCCM Invs.Hldgs PLC
24 June 2021
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 Person: Natasha Nelson
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. 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 June 2021
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
following:
-- ZCCM-IH filed 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").
-- The legal proceedings commenced on 2 July 2019 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") to stay the liquidation proceedings
and refer the matter to arbitration.
Shareholders are informed that the High Court of Zambia ruled
against Vedanta on 7 August 2019. On 13 August 2019 Vedanta
appealed to the Court of Appeal of Zambia against the decision of
the High Court of Zambia which denied them their application to
stay the liquidation proceedings and refer the matter to
arbitration. The Court of Appeal on 20 November 2020 ruled in
favour of Vedanta and stayed the liquidation proceedings and
referred the matter to arbitration.
The Court of Appeal refused the ZCCM-IH application for leave to
appeal to the Supreme Court and ZCCM-IH has since made an
application for leave before the Supreme Court. ZCCM-IH awaits the
decision of the Supreme Court.
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 23 June 2021
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 23 May 2019
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END
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