ZCCM Invs.Hldgs PLC GM Statement (1627U)
31 March 2021 - 11:45PM
UK Regulatory
TIDMZCC
RNS Number : 1627U
ZCCM Invs.Hldgs PLC
31 March 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 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: 31 March 2021
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 INVESTMENT HOLDINGS PLC, COMPLETION OF TRANSACTION
& WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
1.0 Introduction
Shareholders are referred to the cautionary announcements
released on the Stock Exchange News Service ("SENS") of the Lusaka
Securities Exchange ("LUSE") on the 9(th) of March 2021 and the
announcements by ZCCM-IH released on SENS on 21(st) December 2020,
8(th) January 2021 and 20(th) January 2021 regarding the
acquisition of the 90% stake not currently held by ZCCM-IH in
Mopani Copper Mines Plc ("Mopani") ("the Transaction"). The Company
distributed a Transaction circular (the "Circular") on the 9(th) of
March 2021 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 virtually on Tuesday, 30 March 2021
and hosted in Lusaka, Zambia, shareholders of ZCCM-IH
("Shareholders") considered the resolution proposed at the EGM as
set out below:
THAT the Transaction be and is hereby approved and the directors
of the Company (the "Directors") be and are hereby authorised
to:
a. do or procure to be done all such acts and things as they
consider necessary, expedient or appropriate in connection with 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); and
b. 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.
The proposed resolution was approved by the Shareholders.
3.0 Completion of the Transaction
The Board is pleased to confirm that all the Conditions
Precedent to the Transaction have now been satisfied, allowing for
the completion of the Transaction on 31 March 2021. ZCCM-IH is now
the holder of 100% of the issued shares in Mopani, transforming the
Company from an investment company to owning and operating a
multi-billion-dollar mining asset in Zambia. The Board looks
forward to providing Shareholders with further updates on Mopani in
the coming months.
Accordingly, the Cautionary Announcement in force since 4(th)
September 2020 is hereby withdrawn.
By Order of the Board
Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on 31 March 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 4
September
2020
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END
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