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”]
CAUTIONARY ANNOUNCEMENT
Confidential Arbitration Proceedings between Trafigura Pte Limited ("Trafigura") and ZCCM Investments Holdings Plc ("ZCCM-IH" or "the Company")
In compliance with the requirements of the Securities Act No 41 of 2016, as amended, and the Lusaka Securities Exchange (" LuSE ") Listings Requirements (the " Rules "), shareholders of ZCCM-IH and members of the investing public are informed that, pursuant to a guarantee signed by ZCCM-IH's then CEO in favour of Trafigura on 28 July 2021 (“ Guarantee ”), on 24 February 2024 Trafigura filed a request for arbitration against ZCCM-IH (as respondent) brought under the London Court of International Arbitration Rules 2020. These arbitration proceedings are strictly confidential as between the parties.
The arbitration proceedings follow a demand for payment made by Trafigura on 21 November 2023 pursuant to the Guarantee. The Guarantee was signed as security for a ZMW1,663 million (US$100 million) prepayment agreement between Trafigura and Konkola Copper Mines Plc, in which ZCCM-IH is a shareholder.
ZCCM-IH is contesting the claims robustly.
The matter is yet to be determined and may be of a price sensitive nature. Shareholders will be updated as the case progresses.
Accordingly, shareholders of ZCCM-IH and members of the investing public are advised to exercise caution when dealing in securities of the Company until further information is published. They should obtain independent professional advice if they have any queries or concerns about any of the contents or subject matter of this announcement.
By Order of the Board
Charles Mjumphi
Company Secretary
Issued in Lusaka, Zambia on 31 March 2025
| Lusaka Securities Exchange Sponsoring Broker | |
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+260-211-232456
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| ISSUED: 31 March 2025 | |
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Full and original press release in PDF: https://www.actusnews.com/news/90728-zccm-ih-cautionary-announcement-arbitration-proceedings-31.03.2025-002.pdf
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