ZCCM Invs.Hldgs PLC Cautionary Announcement (5111H)
08 June 2017 - 4:04PM
UK Regulatory
TIDMZCC
RNS Number : 5111H
ZCCM Invs.Hldgs PLC
08 June 2017
SENS ANNOUNCEMENT
(the "Notice" or "Announcement")
ISSUER
ZCCM INVESTMENT 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: +260-211-232456
Website: www.sbz.com.zm
APPROVAL
----------- --------------------------------------------------
The captioned Notice or Announcement has been approved by:
i. the Lusaka Securities Exchange
ii. the Securities and Exchange Commission
iii. Stockbrokers Zambia Limited
DISCLAIMER AND 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: 29 May 2017
ZCCM INVESTMENT HOLDINGS PLC
[Incorporated in the Republic of Zambia] Company registration
number: 119540000771 Share Code: ZCCM-IH
ISIN: ZM0000000037 ["ZCCM-IH" or the "Company"]
CAUTIONARY ANNOUNCEMENT
Background
Shareholders of ZCCM Investment Holdings ("Shareholders")
("ZCCM-IH") will be aware that in February 2016, ZCCM undertook to
subscribe for all shares not subscribed for by other Investrust
Bank Plc ("Investrust") shareholders in the Investrust Rights Offer
(the "Rights Offer"). This resulted in ZCCM-IH's shareholding
in
Investrust to increase from 10% to 48.6%. As a result, ZCCM-IH
was required to proceed with a Mandatory Offer to all the other
shareholders in Investrust in accordance with Rule 56 of the Third
Schedule of the Securities (Takeovers and Mergers) Rules, Statutory
Instrument No 170 of 1993, (the "Takeovers Rules"), issued pursuant
to the Securities Act, Chapter 354 of the Laws of Zambia (the
"Securities Act").
However, as provided for in the Takeovers Rules, ZCCM-IH opted
to apply to the Securities and Exchange Commission ("SEC") for a
waiver to proceed with a Mandatory Offer which was granted by the
SEC on 21 October 2016 on condition that ZCCM-IH will sell-down its
shareholding in the Bank to below 35% by 21 October 2017. Hitherto,
ZCCM-IH has only managed to sell 3.2% and ZCCM-IH thus currently
has a shareholding of 45.4% in the Bank.
Notification of Intention to Undertake a Mandatory Offer to
Investrust Shareholders
ZCCM-IH has now resolved that it would immediately and prior to
the expiration of the waiver period proceed to undertake a
Mandatory Offer to all Minority Shareholders in Investrust and
thus, on 18 May 2017, ZCCM-IH formally notified the Board of
Investrust of its intentions to proceed with a Mandatory Offer to
the Minority Shareholders of Investrust prior to the 21 October
2017 deadline.
ZCCM-IH is currently in discussions with Investrust on the
process and timing of the Mandatory Offer and will provide further
information once the discussions have been concluded.
Accordingly, and in the meantime, Shareholders are advised to
exercise caution when dealing in the Company's securities until a
full announcement is made.
By Order of the Board
Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on Monday 29(th) May 2017
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 Monday, 29(th) May 2017
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCOKFDKABKKKAK
(END) Dow Jones Newswires
June 08, 2017 02:04 ET (06:04 GMT)
Zccm Investments (LSE:ZCC)
Historical Stock Chart
From Apr 2024 to May 2024
Zccm Investments (LSE:ZCC)
Historical Stock Chart
From May 2023 to May 2024