<

ZCCM (EPA:MLZAM) EGM RESULTS ANNOUNCEMENT

Transparency directive : regulatory news

31/03/2021 16:00

 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:

  1. the Lusaka Securities Exchange (“LuSE”)
  2. the Securities and Exchange Commission (“SEC”)
  3. 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. Introduction

Shareholders are referred to the cautionary announcements released on the Stock Exchange News Service (“SENS”) of the Lusaka Securities Exchange (“LUSE”) on the 9th of March 2021 and the announcements by ZCCM-IH released on SENS on 21st December 2020, 8th January 2021 and 20th 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 9th 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:

  1. 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
  2. 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 4th September 2020 is hereby withdrawn.

By Order of the Board

Chabby Chabala

Company Secretary

Issued in Lusaka, Zambia on 31 March 2021

Lusaka Securities Exchange Sponsoring Broker
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


This publication embed "Actusnews SECURITY MASTER".
- SECURITY MASTER Key: lXBvZ8VmaGeZnXGflceWa5djbmhhkpWWaJXJyGieY8iXaXKRnGxql8eYZm9pmWtm
- Check this key: https://www.security-master-key.com.



Regulated information:
Inside Information:
- Operations of the issuer (acquisitions, sales…)


Full and original press release in PDF: https://www.actusnews.com/news/68460-zccm-ih-egm-results-announcement-transaction-completion-sens-31032021.pdf

Receive by email the next press releases of the company by registering on www.actusnews.com, it's free

ZCCM's latest news


21/03/2024 18:05
23/02/2024 21:10
23/02/2024 17:00
02/02/2024 23:25
02/02/2024 23:20
02/02/2024 08:55
22/12/2023 13:00
03/12/2023 08:00
29/11/2023 12:00
10/11/2023 20:55


Other stories

28/03/2024 12:25
28/03/2024 16:58
28/03/2024 18:06
28/03/2024 21:54
28/03/2024 18:00
28/03/2024 22:52
28/03/2024 20:53
28/03/2024 13:08
28/03/2024 17:03
28/03/2024 21:30
28/03/2024 21:21
28/03/2024 14:54
28/03/2024 17:48
28/03/2024 20:29
28/03/2024 22:10
28/03/2024 20:51
28/03/2024 09:59
28/03/2024 18:03
27/03/2024 15:52
27/03/2024 19:23
28/03/2024 09:00
28/03/2024 22:21
28/03/2024 21:31
28/03/2024 19:00
28/03/2024 17:25
28/03/2024 17:45
28/03/2024 22:00
28/03/2024 12:43
28/03/2024 19:55
28/03/2024 17:34
27/03/2024 15:13
27/03/2024 21:46
28/03/2024 17:55
27/03/2024 13:40
28/03/2024 13:25
28/03/2024 12:57
28/03/2024 16:44
28/03/2024 02:42