ZCCM-IH | Market Announcement

Shareholders of ZCCM Investments Holdings (ZCCM-IH) and the market are advised of the following on-going developments relating to the Company.

1. The Proposed Joint Venture for the setting up of a Cement Manufacturing Company
As part of ZCCM-IH’s strategy to diversify its portfolio, the Company is progressing towards the finalising a Joint Venture partnership which will culminate into the setting up of a Cement Manufacturing Company. Shareholders will be aware that His Excellency, the President of the Republic of Zambia, Mr. Edgar C. Lungu, graced the groundbreaking ceremony on 7 July 2017, for the Cement Project in Masaiti district located in the Copperbelt province of Zambia.

ZCCM-IH intends to hold 35% of the shares while its Chinese Partner will have 65%. The planned production capacity of the Plant will be 5000 tonnes per day of Clinker with a two (2) by twenty-five (25) MW Thermal Power Plant. It is expected that the Plant will take 3 years to construct and employ over 1000 people during construction. Once completed, the plant is expected to employ about 400 people.

Commencement of construction is conditional upon financial closure.

2. Disposal of ARM & Vale’s indirect interest in Lubambe Copper Mine Ltd (Lubambe)
ZCCM-IH Plc shareholders are advised that African Rainbow Minerals (ARM) and Vale International SA (Vale) have concluded an agreement to dispose ARM and Vale’s combined 80% beneficial interest in Lubambe to EMR Capital Limited (EMR). The 80% beneficial interest in Lubambe, which is held in equal shares by ARM and Vale, includes the equity holding in Lubambe as well as loans to Lubambe. Lubambe is owned 40% by ARM and 40% by VALE, both as beneficial owners and 20% by ZCCM-IH.

The purchase consideration for the Disposal is US$97.10 million and will be settled in cash. The final amount receivable is subject to, amongst others, the following adjustments which will be finalised on completion of the Disposal:

  • Settlement of Lubambe general banking facility; and
  • Additional funding provided to Lubambe by ARM and Vale between 1 May 2017 and the completion date.

Completion of the Disposal is subject to the fulfilment of agreed conditions precedent.
EMR is a specialist resources private equity management firm with a proven investment track record spanning over 20 years. It manages investments of more than US$2 billion.

RISK WARNING
Prospective investors are urged to exercise caution in dealing in securities that, by their nature, are volatile and subject to price fluctuation.

By Order of the Board
Chabby Chabala
Company Secretary

Issued in Lusaka, Zambia on Monday, 16th October 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 Monday, 16th October 2017

ZCCM houses sale to take 3 years

THE sale of 16,000 houses to former Zambia Consolidated Copper Mines (ZCCM) workers will be completed in the course of three years, the ZCCM-Investment Holdings has said.

ZCCM-IH Chief Executive Officer Pius Kasolo said ZCCM-IH sold the houses to its former employees and so far 64 per cent of the units had been sold off with all the transactions concluded.

Speaking during the re-opening of the firm’s Kitwe office, which had closed, Mr Kasolo said the initial houses were 45,817 and 29,292 transactions had been completed with title deeds issued.

He said the delays had been due to legal disputes regarding certain houses, the death of former employees, and family disputes, following deceased purchasers.

“With the re-opening of this office, it is anticipated that the processing of tittles will be concluded expeditiously. ZCCM-IH is doing everything possible to resolve the transactions, as such we have come up with a programme that will see the remaining transactions concluded within three years,” he said.

Copperbelt Minister Bowman Lusambo was happy that ZCCM-IH had come up with a three-year programme to complete the transactions.

In a speech read for him by Kitwe District Commissioner Binwell Mpundu, Mr Lusambo said owning a house was an empowerment, hence the need for ZCCM-IH to expedite the process on the remaining transactions.

He said the Government was available to assist ZCCM-IH complete the process and called on former purchasers to work with the firm to complete the process.

“My ministry is anxious to see that all former employees receive their title deeds. The Government’s agenda, among others, is the economic empowerment of citizens. Certainly house ownership forms part of such empowerment,” he said.

Mineworkers Union of Zambia president Chishimba Nkole urged all former employees to visit the office and complete their transactions.

He said former employees had not made efforts to complete their transactions looking at the number of documents that were still in the hands of ZCCM-IH.


Source: Times

ZCCM-IH | Further Cautionary Announcement

Shareholders and the market are referred to the Cautionary Announcement issued on Monday, 29th May 2017, in which they were informed of ZCCM Investment Holdings Plc (“ZCCM-IH” or “the Company”) intentions to undertake a Mandatory Offer to the Minority Shareholders of Investrust Bank Plc (“Investrust” or “the Bank”). Shareholders were further informed that Investrust and ZCCM-IH were in discussions regarding the process and timing of the Mandatory Offer.

ZCCM-IH wishes to inform shareholders and the market that the Company is in the process of obtaining the requisite regulatory approvals in order to proceed with the Mandatory Offer. Thereafter, details of the Mandatory Offer including salient dates and terms will be communicated.

In the meantime, shareholders are advised to exercise caution when dealing in the Company’s securities.

By Order of the Board
Chabby Chabala
Company Secretary

Issued in Lusaka, Zambia on Friday, 22nd September 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 Monday, 29th May 2017