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: 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 Number: +260-211-232456
Website: www.sbz.com.zm
APPROVAL
The captioned Notice or Announcement has been approved by:
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 2023
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
Shareholders are referred to the announcements ZCCM-IH released on the Stock Exchange News Service (“SENS”) of the Lusaka Securities Exchange (“LUSE”) on 1 December 2022 regarding the proposed conversion of the dividend rights and certain economic rights attached to ZCCM-IH's 20% shareholding in Kansanshi Mining Plc (KMP) to a 3.1 percent life-of-mine gross revenue Royalty and the variation of the rights ascribed to ZCCM-IH's Class A shares in KMP (“the Transaction”). The Company distributed a Transaction circular (the “Circular”) on the 9th of March 2023 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 on Friday, 31 March 2023 and hosted in Kitwe, Zambia, shareholders of ZCCM-IH (“Shareholders”) considered the resolutions 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:
This proposed resolution was approved by the Shareholders.
The second resolution was withdrawn from the agenda of the meeting to allow the company to undertake a comprehensive assessment of the impact of the proposed guarantees and was not voted on. The resolution will be tabled at the next Annual General Meeting scheduled to be held by end of May 2023.
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 4 April 2023.
By Order of the Board
Charles Mjumphi
Company Secretary
Issued in Lusaka, Zambia on 31 March 2023
Lusaka Securities Exchange Sponsoring Broker for the Transaction | |
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 |
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First Issued on 31 March 2023 |
Regulated information:
Inside Information:
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Full and original press release in PDF: https://www.actusnews.com/news/79156-zccm-ih-egm-results-announcement-transaction-completion-sens-31.03.2023.pdf