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
Issued in Lusaka, Zambia on 18 May 2017
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First Issued on 1 November 2016