KCM-Cautionary Withdrawal Announcement
Updated : 11:27
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
Authorized 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 Person: Amon Chizola
Contact Number: +260976265338
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: 20 August 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"]
WITHDRAWAL OF CAUTIONARY
The Board of Directors of ZCCM Investments Holdings Plc ("ZCCM-IH") ("the Board") wishes to refer the shareholders and the market to the announcement dated 23 May 2019 regarding ZCCM-IH filing a petition in the High Court of Zambia ("the Court") for the winding up of Konkola Copper Mines PLC ("KCM") on 21 May 2019 (the "Petition") and the subsequent appointment of Mr Milingo Lungu as Provisional Liquidator of KCM (the "Provisional Liquidator") by the Court.
Shareholders are hereby informed that on 25th July 2024, ZCCM-IH filed an application to withdraw the Petition in the High Court of Zambia, and the Court subsequently issued an Order withdrawing the Petition and vacating the Order of Appointment of Ms Celina Mena Nair who replaced Mr. Milingo Lungu as the Provisional Liquidator.
The Shareholders are further informed that pursuant to an Order of the Court Dated 28th June 2024, wherein the High Court ordered the termination of the winding up petition forthwith, vacation of the Provisional Liquidator, Reinstatement of the Board and the Reclassification as a going concern of KCM. ZCCM-IH filed into Court on 31st July 2024 a Notice of Termination of The Winding Proceedings, Vacation of the Provisional Liquidator, Reinstatement of the Board, and Reclassification as a going concern (the "Notice"). The effect of the said Notice is that KCM is no longer in Provisional Liquidation, the Board has been reinstated and management control returned to Vedanta Resources, the majority shareholder in KCM.
Accordingly, shareholders no longer need to exercise caution when dealing with this particular matter in their securities.
By Order of the Board
Charles Mjumphi
Company Secretary
Issued in Lusaka, Zambia on 20 August 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 23 May 2019
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