ZCCM-IH | 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 29 May 2017

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 founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 29 May 2017

ZCCM-IH | Cautionary renewal

ZCCM Investments Holdings PLC (“ZCCM-IH”) Files a Notice of Arbitration against Kansanshi Holdings Limited and Kansanshi Mining PLC and Legal Proceedings against First Quantum Limited, FQM Finance Limited, Philip K.R. Pascall, Arthur Mathias Pascall, Clive Newall, Martin R. Rowley and Kansanshi Mining PLC.

On 26 October 2016, ZCCM-IH filed a Notice of Arbitration in London against Kansanshi Holdings Limited and Kansanshi Mining PLC. Further, on 28 October 2016 ZCCM-IH commenced Legal Proceedings in Lusaka against First Quantum Minerals Limited, FQM Finance Limited, Philip K.R. Pascall, Arthur Mathias Pascall, Clive Newall, Martin R. Rowley and Kansanshi Mining PLC for various Claims arising from transactions between Kansanshi Mining Plc and FQM Finance Limited.

Further to the Cautionary Announcement released by ZCCM-IH on 17 March, 2017 regarding these matters and in compliance with the requirements of the Securities Act No 41 of 2016 and the General Obligations of Disclosure under the Continuing Obligations of the Listings Requirements of the Lusaka Securities Exchange, shareholders are informed that the matters are yet to be determined. Shareholders will be updated as the cases progress.

Shareholders of ZCCM-IH are accordingly advised to exercise caution when dealing in securities of the Company until further information is published.

By Order of the Board

Chabby Chabala
Company Secretary

Issued in Lusaka, Zambia on 18 May 2017

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 founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 1 November 2016

ZCCM-IH seeks new strategic partnerships

London, UK – ZCCM Investments Holdings Plc (ZCCM-IH) Chief Executive Officer Dr Pius Kasolo says the Company’s adoption of a multi-commodity approach is an important part of its resilience in light of the cyclical nature of commodities.

Dr Kasolo noted that this approach presents ZCCM-IH as an investment gateway not only into Zambia’s mining sector, but into other sectors as well.

He was speaking during the annual 2017 Zambia Mining Investment Conference in London on 25 April 2017.

We will continue to grow our portfolio beyond mining and will further increase our foothold in the energy sector, agriculture sector and real estate so that the company continues to maximize shareholder value”, said Dr Kasolo.

While presenting investment opportunities that ZCCM-IH has for potential strategic partners, particularly in energy, and oil and gas exploration, Dr Kasolo highlighted that the goal is to tap into new sources of consistent and stable income while reducing the risk profile of the Company’s portfolio, which currently has an exposure of more than 90% to copper.

He concluded by reiterating ZCCM-IH’s commitment to contribute to the industrialization of Zambia through new investments.

The Zambia Mining Investment Conference was this year mainly sponsored by ZCCM-IH.

The conference is a high level mining conference that looks at the state of the mining industry, and to promote the Zambian mining sector presenting opportunities and potential growth prospects for both investors and mining companies.

A mix of about 100 delegates from mining companies, investors, lenders, resource funds, Analysts, Investment Banks, various professional services organisations and consultants in the mining sector attended the conference.

Invitation for Bids | Design, Brand, Construct the ZCCM-IH Stand at the 2017 Zambia International Trade Fair (ZITF)

Design, Brand, Construct the ZCCM-IH Stand at the 2017 Zambia International Trade Fair (ZITF), and Design, Print and Supply of various ZCCM-IH Branded Promotional Materials as one (1) Lot.

ONB No.: ZCCM-IH/010/2017

  1. ZCCM Investments Holdings Plc. (ZCCM-IH) has received financing from own sources toward the CAPEX for the 2017/2018 Financial Year, and it intends to apply part of the proceeds of this financing to payments under the Contract for the Design, brand and Construct the ZCCM-IH Branded Stand at the 2017 Zambia International Trade Fair (ZITF), and the Design, Print and Supply of Various ZCCM-IH Branded Promotional Materials, Contract No.: ZCCM-IH/010/2017.
  1. ZCCM-IH Plc. now invites sealed bids from eligible and qualified bidders for the Contract for the Design, brand and Construct the ZCCM-IH Branded Stand at the 2017 Zambia International Trade Fair (ZITF), and the Design, Print and Supply of Various ZCCM-IH Branded Promotional Materials as one (1) Lot.
  1. The 2017 (ZITF) Show commences from 28th June to 4th July 2017 and the theme is: Industrialisation through Innovation.
  1. Bidding will be conducted through the Open National Bidding (ONB) procedures specified in the Public Procurement Act of 2008 and the Public Procurement Regulations of 2011 and is open to all bidders from Eligible Source Countries as defined in the Bidding Documents. The following CEEC preferential treatment shall be applied as part of the evaluation:3.1 Citizen-influenced company – 4%
    3.2 Citizen-empowered company – 8%
    3.3 Citizen-owned company – 12%
    3.4 Domestically manufactured goods by citizen-influenced company, citizen-empowered or citizen-owned company – 15%.
  1. Interested eligible bidders may obtain further information from the address below and inspect the Bidding Documents at this address from 08:00 – 13:00 and 14:00 – 17:00 local time, Monday to Friday inclusive.
  1. Qualifications requirements include:
    i) Experience as a prime contractor in the rehabilitation of at least two (02) contracts of a similar nature and scope in the last five (05) years;ii) A minimum amount of liquid assets and/or credit facilities of ZMW916, 520.00.iii) Completion of the total assignment and hand over of the branded stand is 23rd June 2017

    iv) The submission date for Proof reading of the designed printed various ZCCM-IH Branded Promotional Materials is 19th June 2017.

    v) Delivery of the designed and printed various ZCCM-IH Branded Promotional Materials  to ZCCM-IH Office Park is 26th June 2017.

    PLEASE NOTE THAT TIME IS ESSENCE IN THIS ASSIGNMENT.

  1. A complete set of Bidding Documents in English may be purchased by interested bidders ON THE SUBMISSION OF A WRITTEN APPLICATION to the address below and upon payment of a non-refundable fee of Zambian Kwacha Five Hundred (ZMW500.00). The method of payment will be either Cash or Bank Certified Cheque.
  1. The address referred to above is:

    K D Kabwe (Mrs.)
    ZCCM Investments Holdings Plc.ZCCM-IH Office Park
    Stand No. 16806, Alick Nkhata Road
    Mass Media Complex Area
    Lusaka, Zambia
    Tel: +260-211-228833

    E-mail: kabwekd@zccm-ih.com.zm

  1. Bids must be delivered to the address below at or before 10:00 hours local time on Tuesday, 30th May 2017. Electronic bidding shall not be permitted. Late bids will be rejected. Bids will be opened physically in the presence of the bidders’ representatives who choose to attend in person at the address below immediately after 10:00 hours on Tuesday, 30th May 2017.  All bids must be accompanied by a Bid Securing Declaration.
  1. There will be an official site visit on Thursday, 18th May 2017. All prospective bidders to meet at the Zambia International Trade Fair Grounds, Ndola at 10:30 hours.
  1. The address referred to in clause 8 is:K D Kabwe (Mrs.)
    ZCCM Investments Holdings Plc.
    ZCCM-IH Office Park
    Stand No. 16806, Alick Nkhata Road
    Mass Media Complex Area
    Lusaka, Zambia.

KCM pays ZCCM-IH $100 million

ZCCM-INVESTMENT Holdings (IH) has todate received US$47 million in payments to recover over US$100 million owed by Konkola Copper Mines (KCM). Last year, ZCCM-IH commenced legal proceedings against KCM Plc in the London Courts to recover over US$ 100 million it was owed after the court’s ruling that the latter pays ZCCM-IH.

ZCCM-IH chief executive officer Pius Kasolo said the two organisations which, continue to enjoy a cordial relationship, agreed on a payment plan and has been making payments from January to April.

“KCM paid US$20 million, US$22 million in February US$2.5 million in March and another US$2.5 million in April.

“Subsequent to the judgment ZCCM-IH and KCM agreed on a payment plan favourable for both parties in the interest of the business. KCM has since been making payments as agreed, and I must say we continue to work together as partners,” he said.

Dr Kasolo said ZCCM-IH remains committed to work closely with mining companies as they are partners in the development of the country and is confident about the fundamentals of the mining industry in general and those of copper.

“Overall, we will continue to grow our portfolio beyond mining and will further increase our foothold in the energy sector, agriculture sector and real estate so that the company continues to maximise shareholder value.

“We are focused on driving sustainable long-term growth and value creation in our investment portfolio,” Dr Kasolo said.


Source: Daily Mail